Freedom Broker Issues Positive Forecast for AngloGold Ashanti (NYSE:AU) Stock Price

AngloGold Ashanti (NYSE:AU) had its price objective lifted by investment analysts at Freedom Broker from $107.00 to $111.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the mining company’s stock. Freedom Broker‘s price target would suggest a potential upside of 31.10% from the stock’s current price.

AU has been the subject of a number of other reports. Zacks Research upgraded shares of AngloGold Ashanti from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. Weiss Ratings raised shares of AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 12th. The Goldman Sachs Group initiated coverage on AngloGold Ashanti in a research note on Thursday, October 15th. They issued a “buy” rating and a $104.00 price target on the stock. Scotiabank dropped their price target on AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Finally, Roth Capital reduced their price objective on AngloGold Ashanti from $121.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, AngloGold Ashanti has an average rating of “Buy” and a consensus price target of $118.06.

AngloGold Ashanti Stock Down 7.0%

Shares of AU traded down $6.44 during mid-day trading on Thursday, hitting $85.05. 2,327,902 shares of the company traded hands, compared to its average volume of 2,865,878. The company has a quick ratio of 2.07, a current ratio of 2.71 and a debt-to-equity ratio of 0.15. AngloGold Ashanti has a 1-year low of $62.55 and a 1-year high of $129.14. The company has a market capitalization of $42.94 billion, a PE ratio of 11.40 and a beta of 0.73. The business has a 50 day moving average of $101.67 and a 200 day moving average of $94.61.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings data on Thursday, July 30th. The mining company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($0.05). AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Equities research analysts anticipate that AngloGold Ashanti will post 8.18 EPS for the current year.

Institutional Investors Weigh In On AngloGold Ashanti

A number of institutional investors and hedge funds have recently made changes to their positions in AU. Axxcess Wealth Management LLC purchased a new stake in AngloGold Ashanti in the third quarter valued at approximately $200,000. Quadrant Capital Group LLC boosted its holdings in AngloGold Ashanti by 2.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 7,975 shares of the mining company’s stock valued at $731,000 after acquiring an additional 224 shares during the period. Nisa Investment Advisors LLC increased its stake in AngloGold Ashanti by 376.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 78,607 shares of the mining company’s stock worth $7,385,000 after buying an additional 62,093 shares during the period. Diversify Advisory Services LLC increased its holdings in AngloGold Ashanti by 6.2% during the 3rd quarter. Diversify Advisory Services LLC now owns 4,290 shares of the mining company’s stock worth $393,000 after purchasing an additional 252 shares during the period. Finally, Founders Grove Wealth Partners LLC acquired a new stake in shares of AngloGold Ashanti in the 3rd quarter valued at $209,000. 36.09% of the stock is owned by hedge funds and other institutional investors.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc is a global gold mining company engaged in the exploration, development, and operation of gold mines. Its principal product is refined gold, and the company also produces related byproducts at certain operations. In addition to operating mines, AngloGold Ashanti maintains exploration and development projects intended to expand and sustain its production portfolio.

The company has a geographically diversified portfolio spanning Africa, Australia, and the Americas. Its operations and projects have included assets in Ghana, Tanzania, Guinea, Côte d’Ivoire, the Democratic Republic of the Congo, Australia, Brazil, and Argentina.