AngloGold Ashanti Limited (NYSE:AU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “AngloGold Limited is the largest gold producer at 7 million ounces a year, with reserves of 126 m oz. The company has operations in six countries on three continents, some of which are joint ventures, as well as exploration activities in ten countries. AngloGold can be financially characterized by high cash generation, substantial reinvestment in long-term growth and the payment of significant dividends. The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market, particularly in Asia. “
Several other brokerages also recently commented on AU. BidaskClub downgraded shares of AngloGold Ashanti Limited from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. J P Morgan Chase & Co raised shares of AngloGold Ashanti Limited from a “neutral” rating to an “overweight” rating in a research note on Monday. Finally, ValuEngine downgraded shares of AngloGold Ashanti Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. AngloGold Ashanti Limited presently has an average rating of “Hold” and a consensus price target of $12.43.
AngloGold Ashanti Limited (NYSE:AU) opened at 9.28 on Tuesday. The firm’s 50-day moving average price is $9.66 and its 200 day moving average price is $10.44. The firm’s market cap is $3.80 billion. AngloGold Ashanti Limited has a 52-week low of $8.89 and a 52-week high of $14.77.
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Several hedge funds have recently added to or reduced their stakes in AU. Virtu Financial LLC bought a new position in shares of AngloGold Ashanti Limited during the second quarter valued at $173,000. Balyasny Asset Management LLC bought a new position in shares of AngloGold Ashanti Limited during the second quarter valued at $183,000. Quantbot Technologies LP bought a new position in shares of AngloGold Ashanti Limited during the second quarter valued at $219,000. QCM Cayman Ltd. bought a new position in shares of AngloGold Ashanti Limited during the second quarter valued at $260,000. Finally, Comerica Bank raised its stake in shares of AngloGold Ashanti Limited by 1.3% during the first quarter. Comerica Bank now owns 23,405 shares of the mining company’s stock valued at $263,000 after acquiring an additional 306 shares during the last quarter. 32.74% of the stock is owned by hedge funds and other institutional investors.
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.
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