AngloGold Ashanti (NYSE:AU) Stock Rating Upgraded by Zacks Investment Research

AngloGold Ashanti (NYSE:AU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage currently has a $20.00 price objective on the mining company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.86% from the stock’s current price.

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. “

Several other equities research analysts have also recently weighed in on the company. BMO Capital Markets started coverage on Encompass Health in a research note on Thursday, June 27th. They issued an “outperform” rating and a $72.00 price target for the company. ValuEngine raised Xylem from a “hold” rating to a “buy” rating in a research note on Friday, June 21st. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a GBX 215 ($2.81) price target on shares of in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. AngloGold Ashanti has a consensus rating of “Buy” and a consensus price target of $18.01.



Shares of AU stock traded down $0.34 on Tuesday, hitting $18.04. The company had a trading volume of 385,154 shares, compared to its average volume of 3,556,790. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 33.96, a P/E/G ratio of 0.56 and a beta of -0.78. The company’s 50-day moving average price is $15.39. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.73 and a current ratio of 1.55. AngloGold Ashanti has a twelve month low of $7.07 and a twelve month high of $18.44.

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in shares of AngloGold Ashanti by 480.5% during the 1st quarter. Acadian Asset Management LLC now owns 2,772,905 shares of the mining company’s stock valued at $36,324,000 after purchasing an additional 2,295,235 shares in the last quarter. Deutsche Bank AG boosted its position in shares of AngloGold Ashanti by 410.0% during the 4th quarter. Deutsche Bank AG now owns 2,525,033 shares of the mining company’s stock valued at $31,689,000 after purchasing an additional 2,029,964 shares in the last quarter. USS Investment Management Ltd boosted its position in shares of AngloGold Ashanti by 165.9% during the 1st quarter. USS Investment Management Ltd now owns 2,260,000 shares of the mining company’s stock valued at $29,595,000 after purchasing an additional 1,410,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of AngloGold Ashanti by 147.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,857,528 shares of the mining company’s stock valued at $24,334,000 after purchasing an additional 1,107,350 shares in the last quarter. Finally, LGT Capital Partners LTD. boosted its position in shares of AngloGold Ashanti by 145.6% during the 2nd quarter. LGT Capital Partners LTD. now owns 1,551,566 shares of the mining company’s stock valued at $27,633,000 after purchasing an additional 919,866 shares in the last quarter. 38.34% of the stock is owned by institutional investors.

About AngloGold Ashanti

AngloGold Ashanti Limited operates as a gold mining company. It also produces silver, uranium, and sulphuric acid; and dóre bars. The company operates 14 mines and 3 projects in 10 countries in South Africa, Continental Africa, the Americas, and Australasia. AngloGold Ashanti Limited was incorporated in 1944 and is headquartered in Johannesburg, South Africa.

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