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

AngloGold Ashanti (NYSE:AU) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on AU. Citigroup increased their target price on AngloGold Ashanti from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Roth Capital increased their price target on shares of AngloGold Ashanti from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. JPMorgan Chase & Co. lifted their price objective 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. HSBC reaffirmed a “reduce” rating and set a $55.00 target price on shares of AngloGold Ashanti in a research note on Thursday, October 9th. Finally, Weiss Ratings raised shares of AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, AngloGold Ashanti presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

AngloGold Ashanti Stock Performance

Shares of AngloGold Ashanti stock opened at $89.55 on Tuesday. The business’s 50 day moving average price is $78.40 and its 200 day moving average price is $64.13. The company has a market cap of $37.59 billion, a price-to-earnings ratio of 19.73 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 has a one year low of $22.45 and a one year high of $91.00.

AngloGold Ashanti (NYSE:AU) last issued its earnings results on Wednesday, November 12th. The mining company reported $1.32 earnings per share (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 company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.53 billion. On average, research analysts predict that AngloGold Ashanti will post 3.83 EPS for the current year.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of AngloGold Ashanti by 0.5% during the third quarter. California State Teachers Retirement System now owns 31,919 shares of the mining company’s stock worth $2,245,000 after purchasing an additional 147 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of AngloGold Ashanti by 33.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 599 shares of the mining company’s stock valued at $42,000 after purchasing an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of AngloGold Ashanti by 4.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,528 shares of the mining company’s stock valued at $248,000 after purchasing an additional 161 shares during the period. CoreCap Advisors LLC grew its stake in AngloGold Ashanti by 27.3% during the 3rd quarter. CoreCap Advisors LLC now owns 1,006 shares of the mining company’s stock worth $71,000 after buying an additional 216 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in AngloGold Ashanti by 13.8% during the third quarter. Farther Finance Advisors LLC now owns 1,893 shares of the mining company’s stock worth $133,000 after buying an additional 229 shares during the period. 36.09% of the stock is currently owned by institutional investors and hedge funds.

About AngloGold Ashanti

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.