AngloGold Ashanti Ltd. (AU) Rating Lowered to Strong Sell at Zacks Investment Research
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. “
Several other research firms have also recently issued reports on AU. Jefferies Group reissued a buy rating on shares of AngloGold Ashanti in a research note on Tuesday, August 23rd. Deutsche Bank AG cut AngloGold Ashanti from a buy rating to a hold rating in a research note on Wednesday, July 6th. Finally, Citigroup Inc. reissued a sell rating on shares of AngloGold Ashanti in a research note on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. AngloGold Ashanti presently has an average rating of Hold and an average price target of $47.00.
AngloGold Ashanti (NYSE:AU) opened at 13.38 on Tuesday. AngloGold Ashanti has a 12-month low of $6.20 and a 12-month high of $22.91. The stock has a 50 day moving average price of $15.62 and a 200 day moving average price of $16.80. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 49.93 and a beta of -0.93.
A number of hedge funds have recently bought and sold shares of AU. Capstone Asset Management Co. boosted its stake in AngloGold Ashanti by 1.0% in the third quarter. Capstone Asset Management Co. now owns 24,010 shares of the mining company’s stock valued at $382,000 after buying an additional 230 shares during the last quarter. Dorsey Wright & Associates raised its position in AngloGold Ashanti by 45.0% in the third quarter. Dorsey Wright & Associates now owns 25,118 shares of the mining company’s stock valued at $400,000 after buying an additional 7,795 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in AngloGold Ashanti by 136.1% in the third quarter. BNP Paribas Arbitrage SA now owns 54,453 shares of the mining company’s stock valued at $867,000 after buying an additional 31,387 shares during the last quarter. Stifel Financial Corp raised its position in AngloGold Ashanti by 17.8% in the second quarter. Stifel Financial Corp now owns 14,717 shares of the mining company’s stock valued at $267,000 after buying an additional 2,227 shares during the last quarter. Finally, Numeric Investors LLC raised its position in AngloGold Ashanti by 44.6% in the second quarter. Numeric Investors LLC now owns 1,363,400 shares of the mining company’s stock valued at $24,623,000 after buying an additional 420,800 shares during the last quarter. 39.88% of the stock is currently owned by institutional investors and hedge funds.
About AngloGold Ashanti
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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