AngloGold Ashanti (NYSE:AU) Cut to Hold at StockNews.com

StockNews.com cut shares of AngloGold Ashanti (NYSE:AU) from a buy rating to a hold rating in a research note released on Tuesday.

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

AngloGold Ashanti Stock Up 1.0 %

AU traded up $0.24 during trading on Tuesday, hitting $24.25. 74,845 shares of the company traded hands, compared to its average volume of 2,017,183. AngloGold Ashanti has a one year low of $15.80 and a one year high of $32.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.83 and a quick ratio of 1.19. The stock’s fifty day moving average is $27.79 and its 200 day moving average is $26.95.

Hedge Funds Weigh In On AngloGold Ashanti

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Chesapeake Capital Corp IL boosted its holdings in shares of AngloGold Ashanti by 3.1% in the second quarter. Chesapeake Capital Corp IL now owns 14,100 shares of the mining company’s stock worth $354,000 after buying an additional 429 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of AngloGold Ashanti by 17.3% in the second quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock worth $74,000 after buying an additional 433 shares during the last quarter. US Bancorp DE boosted its holdings in shares of AngloGold Ashanti by 1.0% in the third quarter. US Bancorp DE now owns 47,103 shares of the mining company’s stock worth $1,254,000 after buying an additional 466 shares during the last quarter. CWM LLC boosted its holdings in shares of AngloGold Ashanti by 26.1% in the second quarter. CWM LLC now owns 2,383 shares of the mining company’s stock worth $60,000 after buying an additional 493 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of AngloGold Ashanti by 1.0% in the second quarter. Sei Investments Co. now owns 64,843 shares of the mining company’s stock worth $1,630,000 after buying an additional 656 shares during the last quarter. 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.