AngloGold Ashanti (NYSE:AU) Raised to “Buy” at Wall Street Zen

AngloGold Ashanti (NYSE:AU) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of AngloGold Ashanti from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. Zacks Research raised AngloGold Ashanti from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Scotiabank lifted their target price on AngloGold Ashanti from $90.00 to $92.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 12th. Weiss Ratings upgraded AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 24th. Finally, Citigroup raised their price target on AngloGold Ashanti from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.33.

AngloGold Ashanti Trading Down 3.0%

AU stock opened at $82.97 on Friday. The firm has a fifty day moving average price of $76.41 and a 200 day moving average price of $61.96. AngloGold Ashanti has a fifty-two week low of $22.45 and a fifty-two week high of $89.19. The firm has a market cap of $34.82 billion, a PE ratio of 18.27 and a beta of 0.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.98 and a current ratio of 2.58.

AngloGold Ashanti (NYSE:AU) last released its quarterly earnings data on Wednesday, November 12th. The mining company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.02). AngloGold Ashanti had a net margin of 26.25% and a return on equity of 24.01%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.53 billion. Sell-side analysts anticipate that AngloGold Ashanti will post 3.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AngloGold Ashanti

Hedge funds have recently bought and sold shares of the business. HHM Wealth Advisors LLC bought a new stake in shares of AngloGold Ashanti during the third quarter worth $25,000. Financial Management Professionals Inc. purchased a new position in AngloGold Ashanti in the 2nd quarter worth about $30,000. SVB Wealth LLC bought a new stake in AngloGold Ashanti during the 1st quarter valued at about $32,000. UMB Bank n.a. boosted its position in AngloGold Ashanti by 129.0% in the 3rd quarter. UMB Bank n.a. now owns 490 shares of the mining company’s stock valued at $34,000 after buying an additional 276 shares during the period. Finally, Optimum Investment Advisors purchased a new stake in AngloGold Ashanti in the 3rd quarter valued at about $35,000. 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.