AngloGold Ashanti (NYSE:AU) Given New $140.00 Price Target at JPMorgan Chase & Co.

AngloGold Ashanti (NYSE:AU) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $134.00 to $140.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 40.40% from the company’s current price.

Several other brokerages also recently commented on AU. Freedom Capital upgraded shares of AngloGold Ashanti to a “strong-buy” rating in a research report on Friday, June 26th. BMO Capital Markets downgraded shares of AngloGold Ashanti from an “outperform” rating to a “market perform” rating and set a $115.00 target price for the company. in a report on Thursday, September 10th. Weiss Ratings lowered AngloGold Ashanti from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Royal Bank Of Canada decreased their price target on AngloGold Ashanti from $114.00 to $111.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Scotiabank lowered their price objective on AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.

AngloGold Ashanti Stock Performance

AngloGold Ashanti stock traded down $0.77 during midday trading on Tuesday, hitting $99.72. The stock had a trading volume of 532,835 shares, compared to its average volume of 2,941,466. AngloGold Ashanti has a 52-week low of $62.55 and a 52-week high of $129.14. The company has a market capitalization of $50.35 billion, a PE ratio of 13.38 and a beta of 0.74. The firm’s fifty day moving average is $94.97 and its two-hundred day moving average is $95.88. The company has a current ratio of 2.71, a quick ratio of 2.07 and a debt-to-equity ratio of 0.15.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.20 billion. AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. On average, research analysts forecast that AngloGold Ashanti will post 8.27 EPS for the current year.

Hedge Funds Weigh In On AngloGold Ashanti

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Moody National Bank Trust Division increased its holdings in AngloGold Ashanti by 9.0% in the 2nd quarter. Moody National Bank Trust Division now owns 2,575 shares of the mining company’s stock valued at $208,000 after acquiring an additional 213 shares during the last quarter. Banque Cantonale Vaudoise boosted its holdings in shares of AngloGold Ashanti by 0.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 27,795 shares of the mining company’s stock valued at $2,667,000 after purchasing an additional 255 shares during the last quarter. Ascentis Independent Advisors bought a new position in shares of AngloGold Ashanti during the 1st quarter valued at about $26,000. Allen Capital Group LLC boosted its holdings in shares of AngloGold Ashanti by 10.5% during the 1st quarter. Allen Capital Group LLC now owns 2,832 shares of the mining company’s stock valued at $276,000 after purchasing an additional 268 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in shares of AngloGold Ashanti during the second quarter valued at about $30,000. Institutional investors own 36.09% of the company’s stock.

About AngloGold Ashanti

AngloGold Ashanti plc is a global gold mining company that explores for, develops, and operates gold mines. Its primary product is gold, with silver and other minerals produced as byproducts at some operations. The company also manages mineral exploration, mine development, processing, and related reclamation activities.

AngloGold Ashanti operates across several regions, including Africa, Australia, and the Americas. Its portfolio has included mines and projects in Ghana, Guinea, Tanzania, Australia, Brazil, and Argentina, supported by exploration programs in other prospective mining jurisdictions.