AngloGold Ashanti (NYSE:AU) Rating Lowered to “Hold” at StockNews.com

AngloGold Ashanti (NYSE:AU) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Other analysts also recently issued research reports about the stock. BMO Capital Markets raised their price objective on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Scotiabank reaffirmed a “sector underperform” rating and set a $30.00 target price (up from $27.00) on shares of AngloGold Ashanti in a research report on Monday, August 19th. JPMorgan Chase & Co. raised their target price on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.67.

AngloGold Ashanti Stock Down 1.9 %

NYSE AU traded down $0.48 during trading on Tuesday, hitting $24.63. The stock had a trading volume of 3,046,673 shares, compared to its average volume of 2,021,829. The company has a quick ratio of 1.19, a current ratio of 1.83 and a debt-to-equity ratio of 0.48. AngloGold Ashanti has a one year low of $15.60 and a one year high of $32.57. The stock has a 50 day simple moving average of $27.96 and a 200 day simple moving average of $26.97.

Hedge Funds Weigh In On AngloGold Ashanti

Several institutional investors have recently bought and sold shares of the business. CWM LLC grew its holdings in AngloGold Ashanti by 26.1% in the second quarter. CWM LLC now owns 2,383 shares of the mining company’s stock worth $60,000 after purchasing an additional 493 shares during the last quarter. GAMMA Investing LLC grew its holdings in AngloGold Ashanti by 17.3% in the second quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock worth $74,000 after purchasing an additional 433 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of AngloGold Ashanti by 338.3% during the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock worth $87,000 after buying an additional 2,679 shares during the period. Toronto Dominion Bank acquired a new stake in shares of AngloGold Ashanti during the first quarter worth $118,000. Finally, SG Americas Securities LLC acquired a new stake in shares of AngloGold Ashanti during the third quarter worth $126,000. 36.09% of the stock is owned by hedge funds and other institutional investors.

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.