AngloGold Ashanti Limited (AU) Upgraded by Zacks Investment Research to Hold
AngloGold Ashanti Limited (NYSE:AU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “
A number of other brokerages also recently issued reports on AU. BidaskClub downgraded AngloGold Ashanti Limited from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. ValuEngine downgraded AngloGold Ashanti Limited from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.22.
Shares of AngloGold Ashanti Limited (NYSE AU) traded up 1.74% during trading on Friday, hitting $9.94. 3,158,173 shares of the company traded hands. The company has a 50-day moving average of $9.72 and a 200-day moving average of $10.65. The stock’s market capitalization is $4.07 billion. AngloGold Ashanti Limited has a 52-week low of $8.89 and a 52-week high of $17.23.
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A number of hedge funds and other institutional investors have recently modified their holdings of AU. Virtu Financial LLC purchased a new stake in AngloGold Ashanti Limited in the second quarter valued at approximately $173,000. Balyasny Asset Management LLC purchased a new stake in AngloGold Ashanti Limited in the second quarter valued at approximately $183,000. Quantbot Technologies LP purchased a new stake in AngloGold Ashanti Limited in the second quarter valued at approximately $219,000. QCM Cayman Ltd. purchased a new stake in AngloGold Ashanti Limited in the second quarter valued at approximately $260,000. Finally, Comerica Bank lifted its stake in AngloGold Ashanti Limited by 1.3% in the first quarter. Comerica Bank now owns 23,405 shares of the mining company’s stock valued at $263,000 after buying an additional 306 shares during the last quarter. Institutional investors own 32.76% of the company’s stock.
AngloGold Ashanti Limited 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.
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