AngloGold Ashanti (NYSE:AU) Stock Rating Upgraded by The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded AngloGold Ashanti to “strong buy,” adding to a generally positive analyst outlook. The stock has a consensus “Buy” rating and an average price target of $120.14.
• AngloGold Ashanti shares opened at $91.44 and were reported to be up 2.9%, with a 12-month trading range of $62.55 to $129.14 and a market capitalization of approximately $46.17 billion.
• The company’s latest quarterly results slightly missed expectations, reporting $1.98 in EPS versus a $2.03 estimate and revenue of $3.10 billion versus $3.20 billion expected; institutional investors own 36.09% of the stock.

AngloGold Ashanti (NYSE:AU - Get Free Report) was upgraded by stock analysts at The Goldman Sachs Group to a "strong-buy" rating in a research note issued on Wednesday, Zacks reports.

Several other brokerages have also recently issued reports on AU. Roth Capital reduced their price objective on AngloGold Ashanti from $121.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. Royal Bank Of Canada boosted their target price on AngloGold Ashanti from $111.00 to $119.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 16th. JPMorgan Chase & Co. upped their target price on AngloGold Ashanti from $134.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, September 15th. Citigroup lowered their target price on AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. Finally, Freedom Capital upgraded AngloGold Ashanti to a "strong-buy" rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $120.14.

AngloGold Ashanti Trading Up 2.9%

Shares of AngloGold Ashanti stock opened at $91.44 on Wednesday. AngloGold Ashanti has a 12-month low of $62.55 and a 12-month high of $129.14. The company has a current ratio of 2.71, a quick ratio of 2.07 and a debt-to-equity ratio of 0.15. The stock has a market cap of $46.17 billion, a PE ratio of 11.51 and a beta of 0.73. The company has a 50-day moving average of $102.12 and a two-hundred day moving average of $94.80.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($0.05). The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. On average, research analysts anticipate that AngloGold Ashanti will post 8.16 EPS for the current fiscal year.

Institutional Trading of AngloGold Ashanti

Large investors have recently modified their holdings of the business. Moody National Bank Trust Division raised its position in shares of AngloGold Ashanti by 7.8% during the 3rd quarter. Moody National Bank Trust Division now owns 2,777 shares of the mining company's stock worth $261,000 after purchasing an additional 202 shares during the last quarter. Monument Capital Management raised its holdings in shares of AngloGold Ashanti by 6.5% in the third quarter. Monument Capital Management now owns 4,037 shares of the mining company's stock worth $379,000 after acquiring an additional 245 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in shares of AngloGold Ashanti by 0.9% in the first quarter. Banque Cantonale Vaudoise now owns 27,795 shares of the mining company's stock worth $2,667,000 after acquiring an additional 255 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of AngloGold Ashanti in the first quarter valued at $26,000. Finally, Allen Capital Group LLC lifted its position in shares of AngloGold Ashanti by 10.5% in the first quarter. Allen Capital Group LLC now owns 2,832 shares of the mining company's stock valued at $276,000 after acquiring an additional 268 shares in the last quarter. 36.09% of the stock is currently owned by institutional investors and hedge funds.

AngloGold Ashanti Company Profile

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.

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