JPMorgan Chase & Co. Has Lowered Expectations for AngloGold Ashanti (NYSE:AU) Stock Price

Key Points

• JPMorgan lowered AngloGold Ashanti’s price target from $139 to $138 while maintaining an “overweight” rating, implying approximately 73% upside from the stock’s $79.71 price.
• AngloGold Ashanti shares fell 6.3% in Friday trading, and the company’s latest quarterly results missed analyst expectations for both earnings and revenue.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $117.83; institutional investors own 36.09% of the company.

AngloGold Ashanti (NYSE:AU - Get Free Report) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $139.00 to $138.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the mining company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 73.13% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Freedom Broker increased their price objective on shares of AngloGold Ashanti from $107.00 to $111.50 and gave the stock a "buy" rating in a research report on Thursday, October 22nd. BMO Capital Markets lowered shares of AngloGold Ashanti from an "outperform" rating to a "market perform" rating and set a $115.00 target price for the company. in a research note on Thursday, September 10th. RBC Dominion Securities set a $110.00 target price on shares of AngloGold Ashanti and gave the stock an "outperform" rating in a research note on Thursday, October 22nd. Weiss Ratings cut AngloGold Ashanti from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday. Finally, Royal Bank Of Canada lifted their price target on AngloGold Ashanti from $111.00 to $119.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, AngloGold Ashanti has an average rating of "Moderate Buy" and a consensus price target of $117.83.

AngloGold Ashanti Stock Down 6.3%

Shares of NYSE:AU traded down $5.37 during trading on Friday, hitting $79.71. 3,272,010 shares of the company's stock traded hands, compared to its average volume of 2,855,196. 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 company has a 50-day moving average price of $99.07 and a 200-day moving average price of $96.86. AngloGold Ashanti has a 52 week low of $63.29 and a 52 week high of $129.14. The company has a market cap of $40.24 billion, a price-to-earnings ratio of 10.68 and a beta of 0.73.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its 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). 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 the consensus estimate of $3.20 billion. As a group, research analysts forecast that AngloGold Ashanti will post 8.13 EPS for the current fiscal year.

Institutional Trading of AngloGold Ashanti

Institutional investors have recently made changes to their positions in the business. Compass Financial Management LLC acquired a new stake in shares of AngloGold Ashanti in the third quarter valued at approximately $108,000. ARGA Investment Management LP increased its holdings in shares of AngloGold Ashanti by 27.4% during the 3rd quarter. ARGA Investment Management LP now owns 1,137,018 shares of the mining company's stock worth $106,823,000 after acquiring an additional 244,212 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of AngloGold Ashanti by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 859,380 shares of the mining company's stock worth $80,739,000 after acquiring an additional 4,407 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in AngloGold Ashanti during the 3rd quarter valued at $104,000. Finally, Profund Advisors LLC boosted its position in AngloGold Ashanti by 0.9% during the third quarter. Profund Advisors LLC now owns 34,131 shares of the mining company's stock worth $3,207,000 after purchasing an additional 300 shares during the period. Institutional investors own 36.09% of the company's stock.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc is a global gold mining company engaged in the exploration, development, and operation of gold mines. Its principal product is refined gold, and the company also produces related byproducts at certain operations. In addition to operating mines, AngloGold Ashanti maintains exploration and development projects intended to expand and sustain its production portfolio.

The company has a geographically diversified portfolio spanning Africa, Australia, and the Americas. Its operations and projects have included assets in Ghana, Tanzania, Guinea, Côte d'Ivoire, the Democratic Republic of the Congo, Australia, Brazil, and Argentina.

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