AngloGold Ashanti (NYSE:AU) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded AngloGold Ashanti from a "buy" to a "hold."
• Despite that downgrade, the consensus among analysts remains a "Moderate Buy" with a consensus price target of $100.33 (six Buys, one Hold, one Sell).
• AngloGold reported quarterly EPS of $1.90 (in line) and revenue of $3.07 billion (above estimates), showing strong margins (net margin 26.65%, ROE 29.11%) and analysts expect fiscal-year EPS of 3.83.

AngloGold Ashanti (NYSE:AU - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Other equities analysts have also recently issued research reports about the stock. Scotiabank dropped their price target on shares of AngloGold Ashanti from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, March 20th. JPMorgan Chase & Co. lifted their target price on shares of AngloGold Ashanti from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Wednesday, December 3rd. Weiss Ratings upgraded shares of AngloGold Ashanti from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, March 12th. Citigroup increased their price target on shares of AngloGold Ashanti from $105.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, January 20th. Finally, Roth Mkm reissued a "buy" rating and set a $122.00 price target on shares of AngloGold Ashanti in a research report on Friday, February 20th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, AngloGold Ashanti has a consensus rating of "Moderate Buy" and a consensus price target of $100.33.

AngloGold Ashanti Stock Up 3.9%

Shares of NYSE:AU opened at $89.05 on Friday. The stock has a fifty day simple moving average of $104.86 and a two-hundred day simple moving average of $87.50. The stock has a market capitalization of $44.96 billion, a price-to-earnings ratio of 17.16 and a beta of 0.55. AngloGold Ashanti has a 12-month low of $31.91 and a 12-month high of $129.14. The company has a current ratio of 2.87, a quick ratio of 2.20 and a debt-to-equity ratio of 0.20.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its earnings results on Friday, February 20th. The mining company reported $1.90 EPS for the quarter, hitting the consensus estimate of $1.90. AngloGold Ashanti had a return on equity of 29.11% and a net margin of 26.65%.The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.99 billion. On average, research analysts anticipate that AngloGold Ashanti will post 3.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds and other institutional investors have recently bought and sold shares of AU. Empowered Funds LLC purchased a new position in shares of AngloGold Ashanti during the first quarter valued at approximately $321,000. Prudential Financial Inc. purchased a new stake in AngloGold Ashanti in the second quarter worth approximately $1,036,000. Advisors Asset Management Inc. bought a new stake in AngloGold Ashanti in the 2nd quarter worth approximately $69,000. Korea Investment CORP grew its position in AngloGold Ashanti by 0.5% in the 2nd quarter. Korea Investment CORP now owns 196,368 shares of the mining company's stock worth $8,850,000 after purchasing an additional 1,018 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new stake in AngloGold Ashanti during the 2nd quarter valued at $15,885,000. Institutional investors 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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