AngloGold Ashanti Limited (AU) Downgraded to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of AngloGold Ashanti Limited (NYSE:AU) from a hold rating to a sell rating in a report released on Friday 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. “
A number of other equities research analysts also recently issued reports on AU. BidaskClub downgraded shares of AngloGold Ashanti Limited from a sell rating to a strong sell rating in a research note on Tuesday, August 8th. ValuEngine downgraded shares of AngloGold Ashanti Limited from a hold rating to a sell rating in a research note on Tuesday, June 27th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $12.43.
AngloGold Ashanti Limited (NYSE AU) traded up 0.53% during mid-day trading on Friday, hitting $9.56. 2,195,438 shares of the stock traded hands. AngloGold Ashanti Limited has a 12 month low of $8.89 and a 12 month high of $14.77. The company’s market cap is $3.91 billion. The company’s 50 day moving average is $9.65 and its 200 day moving average is $10.53.
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A number of institutional investors have recently added to or reduced their stakes in AU. First Trust Advisors LP purchased a new stake in AngloGold Ashanti Limited during the first quarter valued at $503,000. Bank of New York Mellon Corp raised its stake in AngloGold Ashanti Limited by 218.1% during the first quarter. Bank of New York Mellon Corp now owns 831,541 shares of the mining company’s stock valued at $8,956,000 after purchasing an additional 570,117 shares in the last quarter. Comerica Bank raised its stake in AngloGold Ashanti Limited by 1.3% during the first quarter. Comerica Bank now owns 23,405 shares of the mining company’s stock valued at $263,000 after purchasing an additional 306 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in AngloGold Ashanti Limited by 10.9% during the first quarter. UBS Asset Management Americas Inc. now owns 620,875 shares of the mining company’s stock valued at $6,687,000 after purchasing an additional 60,888 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in AngloGold Ashanti Limited by 62.1% during the first quarter. Ameriprise Financial Inc. now owns 1,297,314 shares of the mining company’s stock valued at $13,960,000 after purchasing an additional 496,998 shares in the last quarter. 32.76% of the stock is currently owned by institutional investors.
AngloGold Ashanti Limited Company Profile
AngloGold Ashanti Limited (AngloGold Ashanti) is a gold mining company. The Company’s business activities span the spectrum of the mining value chain. Its main product is gold. Its portfolio includes over 17 mines in approximately nine countries. It also produces silver, uranium and sulfuric acid as by-products.
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