AngloGold Ashanti (NYSE:AU) Rating Increased to Hold at Zacks Research

Key Points

• AngloGold Ashanti has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, signaling a change in analyst sentiment towards the stock.
• The company's shares are currently priced at $70.39, with a twelve-month high of $71.41 and a low of $22.45.
• Institutional investors own approximately 36.09% of AngloGold Ashanti, reflecting increased interest from financial management professionals and hedge funds.

AngloGold Ashanti (NYSE:AU - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on AU. Scotiabank reiterated a "sector perform" rating and issued a $55.00 price objective on shares of AngloGold Ashanti in a research note on Monday, August 11th. Roth Capital reiterated a "buy" rating on shares of AngloGold Ashanti in a research note on Friday, August 1st. Wall Street Zen upgraded AngloGold Ashanti from a "hold" rating to a "buy" rating in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. boosted their price objective on AngloGold Ashanti from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $49.60.

AngloGold Ashanti Price Performance

Shares of NYSE AU opened at $70.39 on Monday. The company has a current ratio of 2.99, a quick ratio of 2.22 and a debt-to-equity ratio of 0.22. AngloGold Ashanti has a twelve month low of $22.45 and a twelve month high of $71.41. The stock has a 50 day moving average of $58.49 and a two-hundred day moving average of $48.25. The stock has a market cap of $29.54 billion, a P/E ratio of 18.72 and a beta of 0.54.

AngloGold Ashanti (NYSE:AU - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The mining company reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.31 by ($0.06). AngloGold Ashanti had a net margin of 23.60% and a return on equity of 22.54%. The firm had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.29 billion. On average, research analysts forecast that AngloGold Ashanti will post 3.83 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. acquired a new position in AngloGold Ashanti during the second quarter worth $30,000. Global Trust Asset Management LLC acquired a new position in AngloGold Ashanti during the first quarter worth $30,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in AngloGold Ashanti during the first quarter worth $30,000. SVB Wealth LLC acquired a new position in AngloGold Ashanti during the first quarter worth $32,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in AngloGold Ashanti by 30.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the mining company's stock worth $47,000 after acquiring an additional 238 shares during the period. Institutional investors and hedge funds own 36.09% of the company's stock.

About AngloGold Ashanti

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.