JPMorgan Chase & Co. Forecasts Strong Price Appreciation for AngloGold Ashanti (NYSE:AU) Stock

AngloGold Ashanti (NYSE:AU) had its price target increased by equities researchers at JPMorgan Chase & Co. from $58.00 to $63.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 33.68% from the stock’s previous close.

A number of other brokerages also recently commented on AU. Royal Bank Of Canada raised their price objective on AngloGold Ashanti from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Roth Capital raised their price objective on AngloGold Ashanti from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 1st. Wall Street Zen downgraded AngloGold Ashanti from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 1st. HSBC reiterated a “reduce” rating and issued a $35.00 price objective on shares of AngloGold Ashanti in a research report on Thursday, April 17th. Finally, Scotiabank raised their target price on AngloGold Ashanti from $42.00 to $43.50 and gave the stock a “sector perform” rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, AngloGold Ashanti presently has an average rating of “Moderate Buy” and an average target price of $45.08.

AngloGold Ashanti Price Performance

Shares of NYSE:AU opened at $47.13 on Tuesday. The business has a 50 day moving average price of $45.49 and a 200 day moving average price of $37.46. AngloGold Ashanti has a twelve month low of $22.45 and a twelve month high of $51.11. The company has a market cap of $19.78 billion, a price-to-earnings ratio of 15.50 and a beta of 0.48. The company has a quick ratio of 1.57, a current ratio of 2.34 and a debt-to-equity ratio of 0.22.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings data on Friday, May 9th. The mining company reported $0.88 EPS for the quarter. AngloGold Ashanti had a return on equity of 21.18% and a net margin of 21.09%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.84 billion. Research analysts predict that AngloGold Ashanti will post 3.83 earnings per share for the current year.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new stake in AngloGold Ashanti during the 4th quarter valued at $392,000. Vanguard Capital Wealth Advisors acquired a new stake in AngloGold Ashanti during the 1st quarter valued at $221,000. Raymond James Financial Inc. acquired a new stake in AngloGold Ashanti during the 4th quarter valued at $406,000. Charles Schwab Investment Management Inc. increased its holdings in AngloGold Ashanti by 47.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 381,627 shares of the mining company’s stock valued at $8,808,000 after purchasing an additional 122,507 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in AngloGold Ashanti by 59.2% during the 4th quarter. Geode Capital Management LLC now owns 520,772 shares of the mining company’s stock valued at $12,019,000 after purchasing an additional 193,664 shares in the last quarter. 36.09% of the stock is owned by institutional investors and hedge funds.

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.