AngloGold Ashanti (NYSE:AU) Price Target Raised to $31.00

AngloGold Ashanti (NYSE:AU) had its target price lifted by analysts at JPMorgan Chase & Co. from $23.00 to $31.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 30.75% from the company’s previous close.

Separately, StockNews.com raised AngloGold Ashanti from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.25.

AngloGold Ashanti Price Performance

AngloGold Ashanti stock opened at $23.71 on Wednesday. The business’s fifty day moving average is $20.95 and its two-hundred day moving average is $18.93. AngloGold Ashanti has a 52 week low of $14.91 and a 52 week high of $30.26.

Institutional Investors Weigh In On AngloGold Ashanti

Several large investors have recently modified their holdings of the business. Ballentine Partners LLC bought a new stake in shares of AngloGold Ashanti in the first quarter worth about $257,000. Polianta Ltd acquired a new stake in shares of AngloGold Ashanti in the first quarter valued at approximately $1,234,000. GAMMA Investing LLC lifted its position in shares of AngloGold Ashanti by 108.9% in the first quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock valued at $56,000 after buying an additional 1,306 shares during the last quarter. CWM LLC lifted its position in shares of AngloGold Ashanti by 36.1% in the first quarter. CWM LLC now owns 1,890 shares of the mining company’s stock valued at $42,000 after buying an additional 501 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in AngloGold Ashanti by 32.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company’s stock worth $79,000 after purchasing an additional 1,032 shares during the last quarter. 36.09% of the stock is currently owned by institutional investors.

About AngloGold Ashanti

AngloGold Ashanti plc operates as a gold mining company in Africa, the Americas, and Australia. 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 project located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.