Wall Street Zen Upgrades AngloGold Ashanti (NYSE:AU) to Strong-Buy

AngloGold Ashanti (NYSE:AU) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Several other brokerages also recently issued reports on AU. HSBC restated a “reduce” rating and issued a $35.00 price objective on shares of AngloGold Ashanti in a research note on Thursday, April 17th. Royal Bank of Canada raised their price target on shares of AngloGold Ashanti from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Scotiabank boosted their price objective on shares of AngloGold Ashanti from $42.00 to $43.50 and gave the stock a “sector perform” rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of AngloGold Ashanti from $33.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.30.

AngloGold Ashanti Stock Up 2.8%

AU stock opened at $44.09 on Friday. The stock has a market capitalization of $18.51 billion, a price-to-earnings ratio of 14.50 and a beta of 0.48. The company has a 50-day moving average of $39.78 and a two-hundred day moving average of $31.78. AngloGold Ashanti has a 52-week low of $22.13 and a 52-week high of $46.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.14.

AngloGold Ashanti (NYSE:AU) last posted its quarterly earnings data on Friday, May 9th. The mining company reported $0.88 earnings per share for the quarter. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.84 billion. As a group, equities research analysts anticipate that AngloGold Ashanti will post 3.83 EPS for the current year.

Hedge Funds Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Trust Asset Management LLC bought a new position in shares of AngloGold Ashanti during the 1st quarter worth approximately $30,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of AngloGold Ashanti during the first quarter valued at $30,000. SVB Wealth LLC acquired a new stake in shares of AngloGold Ashanti in the 1st quarter valued at $32,000. Whittier Trust Co. bought a new stake in shares of AngloGold Ashanti in the 4th quarter worth about $25,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of AngloGold Ashanti by 210.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company’s stock worth $27,000 after purchasing an additional 796 shares during the last quarter. 36.09% of the stock is 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.