Zacks Investment Research downgraded shares of AngloGold Ashanti (NYSE:AU) from a hold rating to a sell rating in a research report sent to investors on Monday.

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. “

Several other equities research analysts also recently commented on the stock. ValuEngine downgraded shares of AngloGold Ashanti from a sell rating to a strong sell rating in a research note on Friday, August 17th. 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.

Shares of AU opened at $10.85 on Monday. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 180.83 and a beta of -1.07. AngloGold Ashanti has a twelve month low of $7.07 and a twelve month high of $12.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 0.79.

Large investors have recently bought and sold shares of the company. Wetherby Asset Management Inc. acquired a new stake in shares of AngloGold Ashanti during the third quarter worth $112,000. Verition Fund Management LLC acquired a new stake in shares of AngloGold Ashanti during the second quarter worth $122,000. NumerixS Investment Technologies Inc lifted its stake in shares of AngloGold Ashanti by 222.9% during the second quarter. NumerixS Investment Technologies Inc now owns 22,600 shares of the mining company’s stock worth $178,000 after buying an additional 15,600 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of AngloGold Ashanti during the third quarter worth $198,000. Finally, Capital Fund Management S.A. purchased a new position in shares of AngloGold Ashanti during the second quarter worth $206,000. Institutional investors and hedge funds own 39.82% of the company’s stock.

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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