AngloGold Ashanti (NYSE:AU) Raised to “Strong-Buy” at The Goldman Sachs Group

AngloGold Ashanti (NYSE:AU) was upgraded by analysts at The Goldman Sachs Group to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

AU has been the topic of several other reports. Freedom Capital raised AngloGold Ashanti to a “strong-buy” rating in a research note on Friday, June 26th. Scotiabank lowered their target price on AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings raised shares of AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Zacks Research upgraded AngloGold Ashanti from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th. Finally, JPMorgan Chase & Co. boosted their price objective on AngloGold Ashanti from $134.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $120.14.

AngloGold Ashanti Trading Up 2.9%

Shares of AU stock opened at $91.44 on Wednesday. The stock’s fifty day moving average price is $102.12 and its two-hundred day moving average price is $94.80. The company has a market cap of $46.17 billion, a PE ratio of 12.26 and a beta of 0.73. AngloGold Ashanti has a fifty-two week low of $62.55 and a fifty-two week high of $129.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.07 and a current ratio of 2.71.

AngloGold Ashanti (NYSE:AU) last posted its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 EPS 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 business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. Equities analysts predict that AngloGold Ashanti will post 8.16 EPS for the current fiscal year.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds have recently added to or reduced their stakes in the business. Ascentis Independent Advisors bought a new stake in AngloGold Ashanti during the 1st quarter worth approximately $26,000. Ancora Advisors LLC bought a new position in shares of AngloGold Ashanti during the second quarter valued at $30,000. Reflection Asset Management acquired a new position in shares of AngloGold Ashanti during the fourth quarter worth $42,000. KBC Group NV acquired a new position in shares of AngloGold Ashanti during the first quarter worth $55,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of AngloGold Ashanti during the second quarter worth $51,000. 36.09% of the stock is currently owned by institutional investors and hedge funds.

About AngloGold Ashanti

AngloGold Ashanti plc (NYSE: AU) is a global gold mining company engaged in the exploration, development, and production of gold. Its activities include operating mines, processing ore into doré and bullion, and developing mineral resources and reserves. The company also conducts exploration and evaluation activities in areas with potential for additional gold discoveries.

The company has mining operations and projects across several regions, including Africa, Australia, the Americas, and other international markets.