AngloGold Ashanti (NYSE:AU) PT Lowered to $32.00 at JPMorgan Chase & Co.

AngloGold Ashanti (NYSE:AU) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $33.00 to $32.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 22.61% from the stock’s previous close.

Several other analysts have also issued reports on AU. Scotiabank upped their price objective on AngloGold Ashanti from $22.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. HSBC lowered AngloGold Ashanti from a “hold” rating to a “reduce” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.50.

AngloGold Ashanti Stock Performance

AU traded up $0.58 on Wednesday, hitting $26.10. 152,491 shares of the company were exchanged, compared to its average volume of 2,022,139. AngloGold Ashanti has a 12 month low of $14.91 and a 12 month high of $26.18. The stock’s fifty day moving average is $23.94 and its 200-day moving average is $21.17.

Hedge Funds Weigh In On AngloGold Ashanti

Several institutional investors and hedge funds have recently made changes to their positions in AU. Vanguard Group Inc. acquired a new position in shares of AngloGold Ashanti in the third quarter valued at approximately $245,342,000. First Eagle Investment Management LLC grew its position in AngloGold Ashanti by 312.3% during the fourth quarter. First Eagle Investment Management LLC now owns 6,003,149 shares of the mining company’s stock worth $112,199,000 after buying an additional 4,547,011 shares in the last quarter. Van ECK Associates Corp grew its position in AngloGold Ashanti by 7.6% during the first quarter. Van ECK Associates Corp now owns 27,747,289 shares of the mining company’s stock worth $615,990,000 after buying an additional 1,948,322 shares in the last quarter. Deutsche Bank AG acquired a new stake in AngloGold Ashanti during the third quarter worth approximately $25,027,000. Finally, TT International Asset Management LTD grew its position in AngloGold Ashanti by 38.8% during the fourth quarter. TT International Asset Management LTD now owns 3,562,919 shares of the mining company’s stock worth $66,590,000 after buying an additional 995,709 shares in the last quarter. Institutional investors and hedge funds own 36.09% of the company’s stock.

AngloGold Ashanti Company Profile

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.