AngloGold Ashanti (NYSE:AU) Stock Rating Lowered by ValuEngine

ValuEngine cut shares of AngloGold Ashanti (NYSE:AU) from a buy rating to a hold rating in a research report report published on Thursday, ValuEngine reports.

AU has been the topic of a number of other reports. BMO Capital Markets upgraded shares of AngloGold Ashanti from a market perform rating to an outperform rating and lifted their price objective for the company from $16.00 to $21.00 in a research note on Thursday, June 27th. Zacks Investment Research upgraded shares of AngloGold Ashanti from a hold rating to a buy rating and set a $20.00 price objective on the stock in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada upgraded shares of AngloGold Ashanti from a sector perform rating to an outperform rating and set a $17.05 price objective on the stock in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $18.01.

AU stock traded up $0.59 during mid-day trading on Thursday, reaching $19.36. The company had a trading volume of 4,686,489 shares, compared to its average volume of 2,883,764. The company has a quick ratio of 0.73, a current ratio of 1.55 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $7.09 billion, a PE ratio of 36.53, a P/E/G ratio of 0.46 and a beta of -0.79. AngloGold Ashanti has a one year low of $7.07 and a one year high of $19.63. The business has a 50-day moving average price of $17.80.

Several hedge funds and other institutional investors have recently modified their holdings of AU. Gabelli Funds LLC lifted its holdings in AngloGold Ashanti by 15.7% in the 2nd quarter. Gabelli Funds LLC now owns 701,000 shares of the mining company’s stock worth $12,485,000 after purchasing an additional 94,900 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in AngloGold Ashanti by 41.3% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 117,213 shares of the mining company’s stock worth $2,078,000 after buying an additional 34,270 shares during the period. DekaBank Deutsche Girozentrale bought a new position in AngloGold Ashanti in the 2nd quarter worth approximately $1,966,000. TD Asset Management Inc. increased its position in AngloGold Ashanti by 49.0% in the 2nd quarter. TD Asset Management Inc. now owns 213,704 shares of the mining company’s stock worth $3,806,000 after buying an additional 70,300 shares during the period. Finally, Pendal Group Ltd increased its position in AngloGold Ashanti by 6.4% in the 2nd quarter. Pendal Group Ltd now owns 166,541 shares of the mining company’s stock worth $2,966,000 after buying an additional 10,051 shares during the period. Institutional investors and hedge funds own 38.03% of the company’s stock.

AngloGold Ashanti Company Profile

AngloGold Ashanti Limited operates as a gold mining company. It also produces silver, uranium, and sulphuric acid; and dóre bars. The company operates 14 mines and 3 projects in 10 countries in South Africa, Continental Africa, the Americas, and Australasia. AngloGold Ashanti Limited was incorporated in 1944 and is headquartered in Johannesburg, South Africa.

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