Zacks Investment Research upgraded shares of AngloGold Ashanti (NYSE:AU) from a hold rating to a buy rating in a research note issued to investors on Thursday, Zacks.com reports. They currently have $23.00 target price on the mining company’s stock.
According to Zacks, “Headquartered in Johannesburg, South Africa, AngloGold Ashanti Limited is an independent, global gold mining company with mines and exploration projects across Continental Africa, South Africa, Americas and Australasia. It is the third-biggest gold mining company globally in terms of production. The company has a portfolio of long-life, relatively low-cost assets and differing orebody types located across major gold producing regions around the world. The company’s 14 operations are located across nine countries and its operating assets are supported by extensive exploration activities. “
Several other equities research analysts have also recently commented on AU. Royal Bank of Canada raised AngloGold Ashanti from a sector perform rating to an outperform rating and set a $17.05 target price on the stock in a report on Wednesday, June 26th. BMO Capital Markets raised AngloGold Ashanti from a market perform rating to an outperform rating and boosted their target price for the stock from $16.00 to $21.00 in a report on Thursday, June 27th. Finally, ValuEngine cut AngloGold Ashanti from a buy rating to a hold rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. AngloGold Ashanti currently has a consensus rating of Hold and a consensus price target of $18.76.
Several hedge funds and other institutional investors have recently bought and sold shares of AU. O Shaughnessy Asset Management LLC bought a new position in shares of AngloGold Ashanti in the first quarter valued at $31,000. Investors Research Corp bought a new position in shares of AngloGold Ashanti in the first quarter valued at $34,000. Parallel Advisors LLC increased its holdings in shares of AngloGold Ashanti by 458.8% in the second quarter. Parallel Advisors LLC now owns 2,157 shares of the mining company’s stock valued at $38,000 after buying an additional 1,771 shares in the last quarter. Nkcfo LLC bought a new position in shares of AngloGold Ashanti in the first quarter valued at $39,000. Finally, Signaturefd LLC increased its holdings in shares of AngloGold Ashanti by 60.9% in the first quarter. Signaturefd LLC now owns 2,962 shares of the mining company’s stock valued at $39,000 after buying an additional 1,121 shares in the last quarter. 38.14% of the stock is currently owned by institutional investors.
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.
Further Reading: Why is the price-sales ratio important?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AngloGold Ashanti Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AngloGold Ashanti and related companies with MarketBeat.com's FREE daily email newsletter.