AngloGold Ashanti Limited (NYSE:AU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “AngloGold Limited is the largest gold producer at 7 million ounces a year, with reserves of 126 m oz. The company has operations in six countries on three continents, some of which are joint ventures, as well as exploration activities in ten countries. AngloGold can be financially characterized by high cash generation, substantial reinvestment in long-term growth and the payment of significant dividends. The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market, particularly in Asia. “
AU has been the subject of a number of other research reports. Bank of America Corp raised shares of AngloGold Ashanti Limited from a “neutral” rating to a “buy” rating in a report on Wednesday, April 5th. JPMorgan Chase & Co. downgraded shares of AngloGold Ashanti Limited from an “overweight” rating to a “neutral” rating in a report on Friday, March 3rd. Finally, Citigroup Inc downgraded shares of AngloGold Ashanti Limited from a “neutral” rating to a “sell” rating in a report on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $14.00.
Shares of AngloGold Ashanti Limited (NYSE:AU) traded down 0.64% on Friday, hitting $12.43. 4,818,410 shares of the company were exchanged. AngloGold Ashanti Limited has a 52-week low of $9.28 and a 52-week high of $22.91. The company has a 50-day moving average price of $11.27 and a 200 day moving average price of $11.94. The firm has a market cap of $5.08 billion, a P/E ratio of 82.87 and a beta of -1.31.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 24th were issued a $0.0992 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Wednesday, March 22nd.
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In other AngloGold Ashanti Limited news, insider Lotan Holdings Inc. acquired 35,000 shares of the firm’s stock in a transaction on Wednesday, February 1st. The stock was purchased at an average price of $1.08 per share, with a total value of $37,800.00. Also, insider David Loveys sold 125,000 shares of AngloGold Ashanti Limited stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $1.63, for a total transaction of $203,750.00.
A number of large investors have recently bought and sold shares of AU. Compagnie Lombard Odier SCmA boosted its stake in AngloGold Ashanti Limited by 178.8% in the third quarter. Compagnie Lombard Odier SCmA now owns 7,250 shares of the mining company’s stock worth $115,000 after buying an additional 4,650 shares during the last quarter. Ellington Management Group LLC bought a new stake in AngloGold Ashanti Limited during the fourth quarter worth about $170,000. Rathbone Brothers plc boosted its stake in AngloGold Ashanti Limited by 29.1% in the first quarter. Rathbone Brothers plc now owns 25,508 shares of the mining company’s stock worth $275,000 after buying an additional 5,750 shares during the last quarter. Capstone Asset Management Co. boosted its stake in AngloGold Ashanti Limited by 6.6% in the first quarter. Capstone Asset Management Co. now owns 25,650 shares of the mining company’s stock worth $276,000 after buying an additional 1,580 shares during the last quarter. Finally, Comerica Bank boosted its stake in AngloGold Ashanti Limited by 13.3% in the fourth quarter. Comerica Bank now owns 23,099 shares of the mining company’s stock worth $278,000 after buying an additional 2,710 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.
About AngloGold Ashanti Limited
AngloGold Ashanti Limited (AngloGold Ashanti) is a gold mining company. The Company’s business activities span the spectrum of the mining value chain. Its main product is gold. Its portfolio includes over 17 mines in approximately nine countries. It also produces silver, uranium and sulfuric acid as by-products.
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