Zacks Investment Research upgraded shares of AngloGold Ashanti (NYSE:AU) from a sell rating to a hold rating in a research note published on Monday morning.

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. “

Other equities research analysts also recently issued reports about the stock. ValuEngine upgraded shares of AngloGold Ashanti from a sell rating to a hold rating in a research note on Friday, October 12th. Royal Bank of Canada downgraded shares of AngloGold Ashanti from an outperform rating to a sector perform rating in a research note on Tuesday, September 18th. Finally, Citigroup downgraded shares of AngloGold Ashanti from a neutral rating to a sell rating in a research note on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $9.50.

Shares of AngloGold Ashanti stock opened at $10.25 on Monday. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 170.33 and a beta of -1.12. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 1.84. AngloGold Ashanti has a 12-month low of $7.07 and a 12-month high of $12.00.

Several hedge funds have recently bought and sold shares of AU. Wetherby Asset Management Inc. bought a new position in shares of AngloGold Ashanti in the third quarter worth about $112,000. Verition Fund Management LLC bought a new position in shares of AngloGold Ashanti in the second quarter worth about $122,000. NumerixS Investment Technologies Inc lifted its holdings in shares of AngloGold Ashanti by 222.9% in the second quarter. NumerixS Investment Technologies Inc now owns 22,600 shares of the mining company’s stock worth $178,000 after acquiring an additional 15,600 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of AngloGold Ashanti in the third quarter worth about $198,000. Finally, Capital Fund Management S.A. bought a new position in shares of AngloGold Ashanti in the second quarter worth about $206,000. 40.66% of the stock is owned by hedge funds and other institutional investors.

AngloGold Ashanti Company Profile

AngloGold Ashanti Limited operates as a gold mining company. The company also produces silver, uranium oxide, and sulphuric acid. Its portfolio includes 17 operations and 3 projects in 10 countries in South Africa, Continental Africa, the Americas, and Australasia. AngloGold Ashanti Limited was founded in 1944 and is headquartered in Johannesburg, South Africa.

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