AngloGold Ashanti (NYSE:AU – Get Free Report) had its target price upped by analysts at JPMorgan Chase & Co. from $32.00 to $37.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 37.60% from the stock’s current price.
Other equities research analysts have also issued reports about the stock. Scotiabank restated a “sector underperform” rating and issued a $30.00 price objective (up from $27.00) on shares of AngloGold Ashanti in a report on Monday, August 19th. StockNews.com upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets lifted their price target on AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.67.
View Our Latest Analysis on AU
AngloGold Ashanti Price Performance
AngloGold Ashanti (NYSE:AU – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The mining company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, sell-side analysts anticipate that AngloGold Ashanti will post 2.58 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management purchased a new position in AngloGold Ashanti during the 3rd quarter valued at about $222,000. Atomi Financial Group Inc. increased its stake in shares of AngloGold Ashanti by 87.0% during the third quarter. Atomi Financial Group Inc. now owns 16,907 shares of the mining company’s stock valued at $450,000 after purchasing an additional 7,864 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of AngloGold Ashanti by 30.6% during the third quarter. Handelsbanken Fonder AB now owns 119,500 shares of the mining company’s stock valued at $3,182,000 after purchasing an additional 28,000 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of AngloGold Ashanti in the 3rd quarter worth approximately $126,000. Finally, Creative Planning grew its stake in shares of AngloGold Ashanti by 18.2% in the 2nd quarter. Creative Planning now owns 17,961 shares of the mining company’s stock worth $451,000 after buying an additional 2,768 shares during the last quarter. Institutional investors own 36.09% of the company’s stock.
About AngloGold Ashanti
AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.
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