AngloGold Ashanti (NYSE:AU) Stock Rating Upgraded by The Goldman Sachs Group

AngloGold Ashanti (NYSE:AU) was upgraded by investment analysts at The Goldman Sachs Group to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of AngloGold Ashanti from $134.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, September 15th. Roth Capital dropped their price objective on AngloGold Ashanti from $121.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. BMO Capital Markets downgraded AngloGold Ashanti from an “outperform” rating to a “market perform” rating and set a $115.00 price objective for the company. in a report on Thursday, September 10th. Zacks Research raised AngloGold Ashanti from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. Finally, Scotiabank cut their target price on AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $120.14.

AngloGold Ashanti Price Performance

Shares of NYSE:AU opened at $91.44 on Wednesday. The company has a market cap of $46.17 billion, a P/E ratio of 11.51 and a beta of 0.73. The business has a fifty day simple moving average of $102.12 and a 200-day simple moving average of $94.80. AngloGold Ashanti has a 52 week low of $62.55 and a 52 week high of $129.14. The company has a quick ratio of 2.07, a current ratio of 2.71 and a debt-to-equity ratio of 0.15.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.05). The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%. Equities research analysts forecast that AngloGold Ashanti will post 8.16 EPS for the current year.

Institutional Trading of AngloGold Ashanti

Institutional investors have recently added to or reduced their stakes in the business. Ninety One SA Pty Ltd increased its holdings in AngloGold Ashanti by 1.8% in the 3rd quarter. Ninety One SA Pty Ltd now owns 11,398,551 shares of the mining company’s stock valued at $1,069,147,000 after purchasing an additional 203,418 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in AngloGold Ashanti by 1.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,386,503 shares of the mining company’s stock valued at $620,874,000 after purchasing an additional 98,250 shares during the period. Wellington Management Group LLP lifted its stake in shares of AngloGold Ashanti by 8.7% during the second quarter. Wellington Management Group LLP now owns 1,930,737 shares of the mining company’s stock worth $156,214,000 after purchasing an additional 154,726 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of AngloGold Ashanti during the second quarter worth about $100,848,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of AngloGold Ashanti by 2.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 860,537 shares of the mining company’s stock worth $83,782,000 after purchasing an additional 23,482 shares in the last quarter. 36.09% of the stock is owned by hedge funds and other institutional investors.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc (NYSE: AU) is a global gold mining company engaged in the exploration, development, and production of gold. Its activities include operating mines, processing ore into doré and bullion, and developing mineral resources and reserves. The company also conducts exploration and evaluation activities in areas with potential for additional gold discoveries.

The company has mining operations and projects across several regions, including Africa, Australia, the Americas, and other international markets.