AngloGold Ashanti (NYSE:AU) Given New $32.00 Price Target at JPMorgan Chase & Co.

AngloGold Ashanti (NYSE:AU) had its target price dropped by analysts at JPMorgan Chase & Co. from $37.00 to $32.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 27.14% from the stock’s previous close.

AU has been the subject of a number of other reports. StockNews.com downgraded AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Scotiabank raised shares of AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price objective for the company in a report on Thursday, November 21st. Finally, Royal Bank of Canada raised shares of AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.75.

AngloGold Ashanti Trading Down 1.9 %

Shares of AngloGold Ashanti stock traded down $0.48 on Friday, hitting $25.17. The company had a trading volume of 829,744 shares, compared to its average volume of 2,213,173. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.19 and a current ratio of 1.73. AngloGold Ashanti has a 1 year low of $15.80 and a 1 year high of $32.57. The stock has a 50 day moving average of $26.76 and a 200-day moving average of $27.05.

Institutional Investors Weigh In On AngloGold Ashanti

A number of institutional investors and hedge funds have recently made changes to their positions in AU. CWM LLC lifted its position in AngloGold Ashanti by 26.1% during the second quarter. CWM LLC now owns 2,383 shares of the mining company’s stock valued at $60,000 after purchasing an additional 493 shares during the last quarter. GAMMA Investing LLC raised its position in AngloGold Ashanti by 17.3% during the second quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock valued at $74,000 after purchasing an additional 433 shares in the last quarter. Blue Trust Inc. lifted its stake in AngloGold Ashanti by 338.3% during the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock worth $87,000 after purchasing an additional 2,679 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of AngloGold Ashanti in the 3rd quarter worth about $126,000. Finally, Cigna Investments Inc. New purchased a new position in shares of AngloGold Ashanti during the 2nd quarter valued at about $206,000. Hedge funds and other institutional investors own 36.09% of the company’s stock.

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.