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

AngloGold Ashanti (NYSE:AU) had its target price increased by JPMorgan Chase & Co. from $23.00 to $31.00 in a report issued on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the mining company’s stock.

Separately, StockNews.com upgraded shares of AngloGold Ashanti from a sell rating to a hold rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, AngloGold Ashanti presently has an average rating of Hold and an average price target of $24.25.

AngloGold Ashanti Stock Performance

Shares of AngloGold Ashanti stock opened at $23.85 on Wednesday. The business has a fifty day simple moving average of $20.83 and a 200-day simple moving average of $18.90. AngloGold Ashanti has a fifty-two week low of $14.91 and a fifty-two week high of $30.26.

AngloGold Ashanti Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.19 per share. This represents a yield of 1.1%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from AngloGold Ashanti’s previous semi-annual dividend of $0.03.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of AngloGold Ashanti by 89.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,475 shares of the mining company’s stock valued at $29,000 after acquiring an additional 695 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of AngloGold Ashanti in the fourth quarter valued at $30,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of AngloGold Ashanti in the third quarter worth $40,000. CWM LLC boosted 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 worth $42,000 after buying an additional 501 shares during the period. Finally, Point72 Middle East FZE purchased a new position in shares of AngloGold Ashanti during the second quarter valued at $54,000. 36.09% of the stock is currently owned by institutional investors and hedge funds.

AngloGold Ashanti Company Profile

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.