AngloGold Ashanti (NYSE:AU) Price Target Lowered to $134.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. lowered its price target on AngloGold Ashanti from $155 to $134, while keeping an overweight rating. The new target still implies significant upside from the prior close.
• Other analysts also trimmed targets recently, including RBC, Scotiabank, and Citigroup, though the stock’s overall consensus remains Moderate Buy with an average price target of $110.50.
• AngloGold Ashanti shares fell 3.4% to $76.47 in Thursday trading. The company recently beat quarterly EPS estimates, reporting $2.52 per share versus expectations of $2.27.

AngloGold Ashanti (NYSE:AU - Get Free Report) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $155.00 to $134.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the mining company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 75.24% from the stock's previous close.

Several other research firms have also recently commented on AU. Royal Bank Of Canada cut their price target on AngloGold Ashanti from $114.00 to $111.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Scotiabank dropped their price objective on AngloGold Ashanti from $134.00 to $128.00 and set a "sector outperform" rating on the stock in a report on Tuesday. Citigroup cut their target price on AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday. Wall Street Zen downgraded shares of AngloGold Ashanti from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Finally, Weiss Ratings lowered shares of AngloGold Ashanti from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $110.50.

AngloGold Ashanti Stock Down 3.4%

AngloGold Ashanti stock traded down $2.67 during midday trading on Thursday, hitting $76.47. 1,159,765 shares of the stock were exchanged, compared to its average volume of 3,012,340. AngloGold Ashanti has a 1 year low of $45.36 and a 1 year high of $129.14. The firm has a market cap of $38.61 billion, a P/E ratio of 11.20 and a beta of 0.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.71 and a quick ratio of 2.11. The company has a 50 day moving average price of $88.91 and a two-hundred day moving average price of $97.06.

AngloGold Ashanti (NYSE:AU - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The mining company reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.25. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.26 billion. AngloGold Ashanti had a net margin of 31.11% and a return on equity of 36.41%. On average, sell-side analysts predict that AngloGold Ashanti will post 8.91 earnings per share for the current fiscal year.

Institutional Trading of AngloGold Ashanti

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of AngloGold Ashanti by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 23,001,047 shares of the mining company's stock valued at $1,979,174,000 after acquiring an additional 252,307 shares during the last quarter. Ninety One SA Pty Ltd bought a new position in AngloGold Ashanti during the fourth quarter worth $1,380,472,000. Arrowstreet Capital Limited Partnership lifted its stake in AngloGold Ashanti by 1.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,386,503 shares of the mining company's stock worth $620,874,000 after purchasing an additional 98,250 shares during the last quarter. State Street Corp boosted its holdings in AngloGold Ashanti by 0.5% in the fourth quarter. State Street Corp now owns 5,731,937 shares of the mining company's stock worth $488,820,000 after purchasing an additional 26,421 shares during the period. Finally, Deutsche Bank AG boosted its holdings in AngloGold Ashanti by 3.9% in the fourth 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 during the period. Institutional investors and hedge funds own 36.09% of the company's stock.

About AngloGold Ashanti

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.

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