TD Securities Begins Coverage on AngloGold Ashanti (NYSE:AU)

Key Points

• TD Securities initiated coverage of AngloGold Ashanti with a “strong-buy” rating, joining a generally positive analyst consensus. MarketBeat reports an average rating of “Buy” and an average price target of $118.35.
• AngloGold Ashanti opened at $82.14, well below its 52-week high of $129.14, with a market capitalization of approximately $41.47 billion. The company recently missed quarterly earnings and revenue estimates, reporting $1.98 in EPS and $3.10 billion in revenue.
• Institutional ownership stands at 36.09%, with several hedge funds and investment firms increasing their positions during the third quarter.

Stock analysts at TD Securities assumed coverage on shares of AngloGold Ashanti (NYSE:AU - Get Free Report) in a research note issued on Monday, Zacks reports. The brokerage set a "strong-buy" rating on the mining company's stock.

Several other research firms have also recently commented on AU. BMO Capital Markets cut AngloGold Ashanti from an "outperform" rating to a "market perform" rating and set a $115.00 target price for the company. in a research report on Thursday, September 10th. RBC Dominion Securities set a $110.00 price target on AngloGold Ashanti and gave the company an "outperform" rating in a report on Thursday, October 22nd. Freedom Broker raised their price target on AngloGold Ashanti from $107.00 to $111.50 and gave the company a "buy" rating in a report on Thursday, October 22nd. Scotiabank dropped their price target on AngloGold Ashanti from $134.00 to $128.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada boosted their price objective on AngloGold Ashanti from $111.00 to $119.00 and gave the stock an "outperform" rating in a report on Wednesday, September 16th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $118.35.

AngloGold Ashanti Stock Performance

NYSE AU opened at $82.14 on Monday. The company's 50 day simple moving average is $98.28 and its two-hundred day simple moving average is $96.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.07. AngloGold Ashanti has a 1 year low of $63.29 and a 1 year high of $129.14. The stock has a market capitalization of $41.47 billion, a PE ratio of 11.01 and a beta of 0.73.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.20 billion. Analysts predict that AngloGold Ashanti will post 8.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently modified their holdings of the company. CenterBook Partners LP raised its stake in shares of AngloGold Ashanti by 71.5% during the third quarter. CenterBook Partners LP now owns 18,229 shares of the mining company's stock valued at $1,713,000 after acquiring an additional 7,600 shares during the last quarter. Asset One Wealth Management LLC boosted its holdings in shares of AngloGold Ashanti by 18.5% during the third quarter. Asset One Wealth Management LLC now owns 11,964 shares of the mining company's stock worth $1,124,000 after purchasing an additional 1,869 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of AngloGold Ashanti by 2.0% in the third quarter. Commonwealth Equity Services LLC now owns 30,425 shares of the mining company's stock worth $2,858,000 after purchasing an additional 588 shares during the last quarter. Covestor Ltd grew its stake in shares of AngloGold Ashanti by 39.9% in the third quarter. Covestor Ltd now owns 2,359 shares of the mining company's stock worth $222,000 after purchasing an additional 673 shares during the last quarter. Finally, Compass Financial Management LLC bought a new stake in shares of AngloGold Ashanti in the third quarter worth about $108,000. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

About AngloGold Ashanti

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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