AngloGold Ashanti (NYSE:AU) Upgraded by Investec to Buy

AngloGold Ashanti (NYSE:AU) was upgraded by Investec from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat Ratings reports.

Several other analysts also recently issued reports on AU. StockNews.com upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Scotiabank restated a “sector underperform” rating and set a $30.00 price objective (up previously from $27.00) on shares of AngloGold Ashanti in a research report on Monday, August 19th. Finally, BMO Capital Markets lifted their target price on AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, AngloGold Ashanti has a consensus rating of “Hold” and a consensus target price of $33.67.

AngloGold Ashanti Stock Up 3.4 %

AngloGold Ashanti stock traded up $0.99 during trading hours on Friday, reaching $30.51. The stock had a trading volume of 1,547,435 shares, compared to its average volume of 1,978,524. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.19 and a current ratio of 1.83. The business’s 50 day moving average price is $28.73 and its 200-day moving average price is $26.29. AngloGold Ashanti has a 52 week low of $15.60 and a 52 week high of $32.57.

AngloGold Ashanti (NYSE:AU) last announced its earnings results on Tuesday, August 6th. The mining company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business earned $0.17 EPS. As a group, equities analysts anticipate that AngloGold Ashanti will post 2.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of AngloGold Ashanti during the first quarter valued at about $596,000. Frank Rimerman Advisors LLC purchased a new stake in shares of AngloGold Ashanti in the second quarter worth $2,002,000. Russell Investments Group Ltd. grew its stake in AngloGold Ashanti by 5.6% during the first quarter. Russell Investments Group Ltd. now owns 3,396,216 shares of the mining company’s stock valued at $75,396,000 after acquiring an additional 181,081 shares in the last quarter. US Bancorp DE lifted its position in AngloGold Ashanti by 748.1% during the first quarter. US Bancorp DE now owns 45,142 shares of the mining company’s stock valued at $1,002,000 after purchasing an additional 39,819 shares during the last quarter. Finally, Oaktree Fund Advisors LLC lifted its position in AngloGold Ashanti by 10.5% during the second quarter. Oaktree Fund Advisors LLC now owns 683,604 shares of the mining company’s stock valued at $17,179,000 after purchasing an additional 64,993 shares during the last quarter. 36.09% of the stock is owned by 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.