Zacks Investment Research upgraded shares of AngloGold Ashanti (NYSE:AU) from a hold rating to a buy rating in a research report released on Wednesday morning. They currently have $12.00 target price on the mining company’s stock.
According to Zacks, “AngloGold Limited is the largest gold producer at 7 million ounces a year, with reserves of 126 m oz. The company has operations in six countries on three continents, some of which are joint ventures, as well as exploration activities in ten countries. AngloGold can be financially characterized by high cash generation, substantial reinvestment in long-term growth and the payment of significant dividends. The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market, particularly in Asia. “
Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of AngloGold Ashanti from a neutral rating to an overweight rating in a report on Monday, October 16th. Royal Bank of Canada raised shares of AngloGold Ashanti from a sector perform rating to an outperform rating and set a $11.50 target price for the company in a report on Monday, November 13th. raised shares of AngloGold Ashanti from a hold rating to a buy rating in a report on Tuesday, November 7th. Deutsche Bank raised shares of AngloGold Ashanti from a hold rating to a buy rating in a report on Thursday, November 30th. Finally, ValuEngine downgraded shares of AngloGold Ashanti from a hold rating to a sell rating in a report on Sunday, December 31st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. AngloGold Ashanti presently has an average rating of Hold and a consensus target price of $11.75.
Shares of AngloGold Ashanti (AU) traded up $0.44 during mid-day trading on Wednesday, hitting $11.07. 3,910,000 shares of the stock were exchanged, compared to its average volume of 3,150,000. The company has a market cap of $4,450.00, a P/E ratio of -27.68, a price-to-earnings-growth ratio of 0.30 and a beta of -1.40. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.65 and a current ratio of 1.57. AngloGold Ashanti has a 12-month low of $8.86 and a 12-month high of $13.68.
Hedge funds have recently made changes to their positions in the business. Fox Run Management L.L.C. purchased a new stake in AngloGold Ashanti in the 3rd quarter worth $123,000. Balyasny Asset Management LLC purchased a new stake in AngloGold Ashanti in the 2nd quarter worth $183,000. Quantbot Technologies LP purchased a new stake in AngloGold Ashanti in the 2nd quarter worth $219,000. Nationwide Fund Advisors lifted its stake in AngloGold Ashanti by 202.5% in the 3rd quarter. Nationwide Fund Advisors now owns 24,344 shares of the mining company’s stock worth $226,000 after purchasing an additional 16,296 shares in the last quarter. Finally, Virtu Financial LLC lifted its stake in AngloGold Ashanti by 377.0% in the 3rd quarter. Virtu Financial LLC now owns 84,891 shares of the mining company’s stock worth $241,000 after purchasing an additional 67,094 shares in the last quarter. Institutional investors and hedge funds own 31.27% of the company’s stock.
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About AngloGold Ashanti
AngloGold Ashanti Limited (AngloGold Ashanti) is a gold mining company. The Company’s business activities span the spectrum of the mining value chain. Its main product is gold. Its portfolio includes over 17 mines in approximately nine countries. It also produces silver, uranium and sulfuric acid as by-products.
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