Scotiabank Upgrades AngloGold Ashanti (NYSE:AU) to “Sector Perform”

AngloGold Ashanti (NYSE:AU) was upgraded by research analysts at Scotiabank from a “sector underperform” rating to a “sector perform” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a $30.00 target price on the mining company’s stock. Scotiabank’s price objective points to a potential upside of 15.61% from the company’s current price.

AU has been the subject of a number of other research reports. Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. StockNews.com downgraded shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets boosted their price target on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $33.67.

AngloGold Ashanti Trading Up 3.0 %

Shares of NYSE:AU opened at $25.95 on Thursday. The company has a fifty day simple moving average of $27.36 and a 200 day simple moving average of $26.98. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.19 and a current ratio of 1.83. AngloGold Ashanti has a 12-month low of $15.80 and a 12-month high of $32.57.

Institutional Investors Weigh In On AngloGold Ashanti

A number of hedge funds and other institutional investors have recently modified their holdings of AU. FMR LLC raised its stake in shares of AngloGold Ashanti by 39.5% during the third quarter. FMR LLC now owns 10,448,445 shares of the mining company’s stock valued at $277,968,000 after purchasing an additional 2,957,304 shares in the last quarter. TT International Asset Management LTD raised its stake in shares of AngloGold Ashanti by 51.3% during the third quarter. TT International Asset Management LTD now owns 2,836,110 shares of the mining company’s stock valued at $75,525,000 after purchasing an additional 962,141 shares in the last quarter. Barings LLC raised its stake in shares of AngloGold Ashanti by 395.0% during the second quarter. Barings LLC now owns 1,101,183 shares of the mining company’s stock valued at $27,818,000 after purchasing an additional 878,717 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AngloGold Ashanti by 159.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,251,492 shares of the mining company’s stock valued at $33,327,000 after purchasing an additional 768,363 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of AngloGold Ashanti by 1,504.8% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 391,715 shares of the mining company’s stock valued at $10,419,000 after purchasing an additional 367,306 shares in 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, 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.