AngloGold Ashanti (AU) Rating Lowered to Hold at Zacks Investment Research

AngloGold Ashanti (NYSE:AU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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 several other research reports. ValuEngine cut shares of AngloGold Ashanti from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Deutsche Bank raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. Royal Bank of Canada raised shares of AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $11.50 price target for the company in a research note on Monday, November 13th. raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Finally, JPMorgan Chase & Co. raised shares of AngloGold Ashanti from a “neutral” rating to an “overweight” rating in a research note on Monday, October 16th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $11.75.

Shares of AngloGold Ashanti (NYSE AU) opened at $10.67 on Thursday. AngloGold Ashanti has a one year low of $8.86 and a one year high of $13.68. The company has a quick ratio of 0.65, a current ratio of 1.57 and a debt-to-equity ratio of 0.88. The firm has a market cap of $4,270.00, a P/E ratio of -26.68, a PEG ratio of 0.29 and a beta of -1.40.

Several institutional investors have recently bought and sold shares of AU. BlackRock Inc. boosted its position in shares of AngloGold Ashanti by 3.0% during the 2nd quarter. BlackRock Inc. now owns 28,450,519 shares of the mining company’s stock worth $276,540,000 after purchasing an additional 819,709 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of AngloGold Ashanti by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 12,807,917 shares of the mining company’s stock worth $119,006,000 after purchasing an additional 396,554 shares during the period. FMR LLC boosted its position in shares of AngloGold Ashanti by 1.3% during the 2nd quarter. FMR LLC now owns 3,838,325 shares of the mining company’s stock worth $37,309,000 after purchasing an additional 48,640 shares during the period. Oaktree Capital Management LP boosted its position in shares of AngloGold Ashanti by 5.2% during the 3rd quarter. Oaktree Capital Management LP now owns 3,237,041 shares of the mining company’s stock worth $30,072,000 after purchasing an additional 159,816 shares during the period. Finally, Capital International Investors boosted its position in shares of AngloGold Ashanti by 57.9% during the 2nd quarter. Capital International Investors now owns 1,506,280 shares of the mining company’s stock worth $14,641,000 after purchasing an additional 552,200 shares during the period. 31.27% of the stock is owned by institutional investors and hedge funds.

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AngloGold Ashanti Company Profile

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.

Analyst Recommendations for AngloGold Ashanti (NYSE:AU)

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