AngloGold Ashanti (NYSE:AU) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of AngloGold Ashanti (NYSE:AU) from a buy rating to a hold rating in a report published on Tuesday.

Several other analysts also recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Scotiabank reissued a “sector underperform” rating and issued a $30.00 price objective (up previously from $27.00) on shares of AngloGold Ashanti in a research note on Monday, August 19th. JPMorgan Chase & Co. raised their price objective on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.67.

AngloGold Ashanti Stock Performance

Shares of NYSE AU opened at $24.63 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.83 and a quick ratio of 1.19. AngloGold Ashanti has a 1 year low of $15.60 and a 1 year high of $32.57. The firm has a 50-day simple moving average of $27.96 and a two-hundred day simple moving average of $26.97.

Institutional Trading of AngloGold Ashanti

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in AngloGold Ashanti by 297.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 259,120 shares of the mining company’s stock valued at $6,900,000 after buying an additional 193,992 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in AngloGold Ashanti by 95.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 247,292 shares of the mining company’s stock valued at $6,585,000 after buying an additional 120,844 shares during the period. Chesapeake Capital Corp IL increased its holdings in AngloGold Ashanti by 18.9% during the third quarter. Chesapeake Capital Corp IL now owns 16,770 shares of the mining company’s stock valued at $464,000 after buying an additional 2,670 shares during the period. Van ECK Associates Corp increased its holdings in AngloGold Ashanti by 0.4% during the third quarter. Van ECK Associates Corp now owns 22,920,684 shares of the mining company’s stock valued at $610,378,000 after buying an additional 80,563 shares during the period. Finally, US Bancorp DE increased its holdings in AngloGold Ashanti by 1.0% during the third quarter. US Bancorp DE now owns 47,103 shares of the mining company’s stock valued at $1,254,000 after buying an additional 466 shares during the period. 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.