Royal Bank Of Canada Issues Positive Forecast for AngloGold Ashanti (NYSE:AU) Stock Price

Key Points

• Royal Bank of Canada raised AngloGold Ashanti’s price target from $111 to $119 and maintained an “outperform” rating, implying 17.86% upside from the prior close.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $113.14.
• AngloGold Ashanti recently traded at $100.97, while its latest quarterly results fell slightly short of estimates, with EPS of $1.98 versus the $2.03 consensus and revenue of $3.10 billion versus $3.20 billion expected.

AngloGold Ashanti (NYSE:AU - Get Free Report) had its price target hoisted by equities researchers at Royal Bank Of Canada from $111.00 to $119.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the mining company's stock. Royal Bank Of Canada's price target suggests a potential upside of 17.86% from the stock's previous close.

A number of other equities analysts have also recently commented on AU. Scotiabank decreased their price target on 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. Wall Street Zen cut shares of AngloGold Ashanti from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Freedom Capital upgraded shares of AngloGold Ashanti to a "strong-buy" rating in a report on Friday, June 26th. Roth Capital cut their price target on shares of AngloGold Ashanti from $121.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, June 24th. Finally, Weiss Ratings cut shares of AngloGold Ashanti from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $113.14.

AngloGold Ashanti Trading Up 0.3%

AngloGold Ashanti stock traded up $0.26 during mid-day trading on Wednesday, hitting $100.97. The company's stock had a trading volume of 711,412 shares, compared to its average volume of 2,933,746. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.07. The stock has a market cap of $50.98 billion, a price-to-earnings ratio of 13.52 and a beta of 0.74. The business has a 50 day moving average price of $95.35 and a 200-day moving average price of $95.71. AngloGold Ashanti has a 12 month low of $62.55 and a 12 month high of $129.14.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its quarterly earnings data 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 net margin of 32.19% and a return on equity of 38.77%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.20 billion. As a group, analysts forecast that AngloGold Ashanti will post 8.27 EPS for the current year.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds and other institutional investors have recently modified their holdings of AU. Moody National Bank Trust Division lifted its holdings in shares of AngloGold Ashanti by 9.0% in the 2nd quarter. Moody National Bank Trust Division now owns 2,575 shares of the mining company's stock valued at $208,000 after acquiring an additional 213 shares during the last quarter. Banque Cantonale Vaudoise increased its stake in AngloGold Ashanti by 0.9% during 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 AngloGold Ashanti during the first quarter valued at approximately $26,000. Allen Capital Group LLC lifted its stake in shares of AngloGold Ashanti by 10.5% in the 1st quarter. Allen Capital Group LLC now owns 2,832 shares of the mining company's stock valued at $276,000 after purchasing an additional 268 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of AngloGold Ashanti in the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 36.09% of the company's stock.

About AngloGold Ashanti

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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