AngloGold Ashanti (NYSE:AU) Stock Gets Price Target Trim from JPMorgan Chase & Co.

AngloGold Ashanti (NYSE:AU) had its price objective reduced by JPMorgan Chase & Co. from $139.00 to $138.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the mining company’s stock.

Several other equities research analysts have also weighed in on the company. RBC Dominion Securities set a $110.00 price objective on AngloGold Ashanti and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. BMO Capital Markets downgraded AngloGold Ashanti from an “outperform” rating to a “market perform” rating and set a $115.00 price target on the stock. in a research note on Thursday, September 10th. Scotiabank reduced their price objective on AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Royal Bank Of Canada lifted their target price on AngloGold Ashanti from $111.00 to $119.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Finally, Freedom Broker lifted their price objective on shares of AngloGold Ashanti from $107.00 to $111.50 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $117.83.

AngloGold Ashanti Stock Performance

AngloGold Ashanti stock opened at $79.71 on Friday. The firm has a market capitalization of $40.24 billion, a P/E ratio of 10.68 and a beta of 0.72. The company’s 50-day moving average is $99.07 and its 200 day moving average is $96.86. AngloGold Ashanti has a 1-year low of $63.29 and a 1-year high of $129.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.07.

AngloGold Ashanti (NYSE:AU) last released its quarterly earnings data on Thursday, July 30th. The mining company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. Research analysts forecast that AngloGold Ashanti will post 8.13 EPS for the current year.

Hedge Funds Weigh In On AngloGold Ashanti

A number of large investors have recently modified their holdings of AU. Latitude Advisors LLC acquired a new position in AngloGold Ashanti in the third quarter valued at $25,000. Ascentis Independent Advisors purchased a new stake in AngloGold Ashanti during the first quarter valued at about $26,000. Ancora Advisors LLC acquired a new position in shares of AngloGold Ashanti during the 2nd quarter valued at about $30,000. Alpine Bank Wealth Management acquired a new position in shares of AngloGold Ashanti in the 3rd quarter worth approximately $31,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of AngloGold Ashanti during the 2nd quarter valued at $51,000. 36.09% of the stock is currently owned by 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.