BidaskClub Downgrades AngloGold Ashanti Limited (NYSE:AU) to Strong Sell

AngloGold Ashanti Limited (NYSE:AU) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday, June 22nd.

AU has been the subject of several other research reports. Royal Bank Of Canada downgraded shares of AngloGold Ashanti Limited from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $11.96 to $12.43 in a research report on Monday, April 24th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of AngloGold Ashanti Limited from a “hold” rating to a “sell” rating in a research report on Friday, May 26th. J P Morgan Chase & Co downgraded shares of AngloGold Ashanti Limited from an “overweight” rating to a “neutral” rating in a research report on Friday, March 3rd. Bank of America Corporation upgraded shares of AngloGold Ashanti Limited from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 5th. Finally, Citigroup Inc. lowered shares of AngloGold Ashanti Limited from a “neutral” rating to a “sell” rating in a research note on Wednesday, February 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $13.22.

Shares of AngloGold Ashanti Limited (NYSE:AU) traded up 1.670% during mid-day trading on Thursday, hitting $10.045. The stock had a trading volume of 440,388 shares. AngloGold Ashanti Limited has a 12 month low of $9.28 and a 12 month high of $22.91. The stock’s 50-day moving average is $11.16 and its 200 day moving average is $11.41. The company has a market cap of $4.11 billion, a PE ratio of 66.967 and a beta of -1.38.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Ellington Management Group LLC acquired a new position in shares of AngloGold Ashanti Limited during the fourth quarter valued at approximately $170,000. Comerica Bank raised its position in AngloGold Ashanti Limited by 1.3% in the first quarter. Comerica Bank now owns 23,405 shares of the mining company’s stock worth $263,000 after buying an additional 306 shares during the last quarter. World Asset Management Inc raised its position in AngloGold Ashanti Limited by 1.2% in the first quarter. World Asset Management Inc now owns 25,360 shares of the mining company’s stock worth $273,000 after buying an additional 308 shares during the last quarter. Rathbone Brothers plc raised its position in AngloGold Ashanti Limited by 29.1% in the first quarter. Rathbone Brothers plc now owns 25,508 shares of the mining company’s stock worth $275,000 after buying an additional 5,750 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in AngloGold Ashanti Limited by 6.6% in the first quarter. Capstone Asset Management Co. now owns 25,650 shares of the mining company’s stock worth $276,000 after buying an additional 1,580 shares during the last quarter. Institutional investors own 35.86% of the company’s stock.

About AngloGold Ashanti Limited

AngloGold Ashanti Limited (AngloGold Ashanti) is a gold mining company. The Company’s business activities span the spectrum of the mining value chain. Its main product is gold. Its portfolio includes over 17 mines in approximately nine countries. It also produces silver, uranium and sulfuric acid as by-products.

Analyst Recommendations for AngloGold Ashanti Limited (NYSE:AU)

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