AngloGold Ashanti (NYSE:AU) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised AngloGold Ashanti’s price target to $140 from $134 and maintained an “overweight” rating, implying roughly 40.4% upside from the reported $99.72 share price.
• Analyst sentiment is generally positive, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of $112, despite mixed recent rating changes from other firms.
• AngloGold Ashanti’s latest quarterly results fell slightly short of expectations, reporting $1.98 in earnings per share versus a $2.03 consensus estimate and $3.10 billion in revenue versus $3.20 billion expected.

AngloGold Ashanti (NYSE:AU - Get Free Report) had its price target raised by JPMorgan Chase & Co. from $134.00 to $140.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the mining company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 40.40% from the stock's current price.

Several other equities research analysts also recently commented on the company. Zacks Research raised AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a report on Friday. Weiss Ratings lowered AngloGold Ashanti from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. BMO Capital Markets cut shares of 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. Royal Bank Of Canada cut their price objective on shares of AngloGold Ashanti from $114.00 to $111.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Finally, Scotiabank dropped their target price on shares of AngloGold Ashanti from $134.00 to $128.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, AngloGold Ashanti presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.00.

AngloGold Ashanti Trading Down 0.8%

Shares of NYSE AU traded down $0.77 during trading hours on Tuesday, hitting $99.72. The company's stock had a trading volume of 532,835 shares, compared to its average volume of 2,941,466. The stock has a market cap of $50.35 billion, a price-to-earnings ratio of 13.38 and a beta of 0.74. AngloGold Ashanti has a 12 month low of $62.55 and a 12 month high of $129.14. The business has a 50-day simple moving average of $94.97 and a 200-day simple moving average of $95.88. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The mining company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.05). The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.20 billion. AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%. On average, analysts anticipate that AngloGold Ashanti will post 8.27 earnings per share for the current fiscal year.

Institutional Trading of AngloGold Ashanti

Several large investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership boosted its stake in shares of AngloGold Ashanti by 1.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,386,503 shares of the mining company's stock worth $620,874,000 after acquiring an additional 98,250 shares during the last quarter. Deutsche Bank AG increased its stake in shares of AngloGold Ashanti by 3.9% in the 4th quarter. Deutsche Bank AG now owns 5,121,189 shares of the mining company's stock worth $436,735,000 after purchasing an additional 191,859 shares in the last quarter. Norges Bank bought a new position in AngloGold Ashanti in the 4th quarter worth $426,477,000. Geode Capital Management LLC raised its holdings in AngloGold Ashanti by 29.8% in the 4th quarter. Geode Capital Management LLC now owns 4,684,560 shares of the mining company's stock worth $419,256,000 after purchasing an additional 1,074,822 shares during the period. Finally, Capital World Investors lifted its position in AngloGold Ashanti by 64.5% during the fourth quarter. Capital World Investors now owns 4,186,463 shares of the mining company's stock valued at $357,022,000 after purchasing an additional 1,641,545 shares in the last quarter. 36.09% of the stock is currently owned by institutional investors.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc is a global gold mining company that explores for, develops, and operates gold mines. Its primary product is gold, with silver and other minerals produced as byproducts at some operations. The company also manages mineral exploration, mine development, processing, and related reclamation activities.

AngloGold Ashanti operates across several regions, including Africa, Australia, and the Americas. Its portfolio has included mines and projects in Ghana, Guinea, Tanzania, Australia, Brazil, and Argentina, supported by exploration programs in other prospective mining jurisdictions.

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