AngloGold Ashanti (NYSE:AU) Receives Hold (C+) Rating from Weiss Ratings

Key Points

• AngloGold Ashanti has received a Hold (C+) rating from Weiss Ratings, amidst varying ratings from other analysts; JPMorgan Chase & Co. has upgraded the stock to an overweight rating and set a target price of $63.00.
• The company's stock has experienced a 4.0% increase, currently trading at $77.54, with a market capitalization of $32.55 billion.
• Despite a revenue of $2.45 billion in its last earnings report, AngloGold Ashanti missed the earnings per share estimate by $0.06, reporting $1.25 EPS instead of the expected $1.31.

AngloGold Ashanti (NYSE:AU - Get Free Report)'s stock had its "hold (c+)" rating reissued by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of AngloGold Ashanti from $58.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wall Street Zen raised shares of AngloGold Ashanti from a "hold" rating to a "buy" rating in a research report on Friday, September 26th. Roth Capital set a $76.00 price objective on shares of AngloGold Ashanti and gave the company a "buy" rating in a research report on Friday, October 3rd. Zacks Research upgraded shares of AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Finally, Scotiabank restated a "sector perform" rating and issued a $55.00 price target on shares of AngloGold Ashanti in a research note on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $54.00.

AngloGold Ashanti Stock Up 4.0%

AU traded up $3.01 during trading on Wednesday, reaching $77.54. 2,458,423 shares of the stock were exchanged, compared to its average volume of 3,144,065. The stock has a market cap of $32.55 billion, a P/E ratio of 20.62 and a beta of 0.53. AngloGold Ashanti has a twelve month low of $22.45 and a twelve month high of $77.71. The stock's 50 day moving average price is $60.80 and its two-hundred day moving average price is $49.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.22 and a current ratio of 2.99.

AngloGold Ashanti (NYSE:AU - Get Free Report) last issued its earnings results 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). The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.29 billion. AngloGold Ashanti had a return on equity of 22.54% and a net margin of 23.60%. Equities analysts expect that AngloGold Ashanti will post 3.83 EPS for the current year.

Institutional Investors Weigh In On AngloGold Ashanti

A number of hedge funds have recently made changes to their positions in AU. State Street Corp increased its holdings in AngloGold Ashanti by 1,175.7% in the 2nd quarter. State Street Corp now owns 4,967,173 shares of the mining company's stock worth $226,354,000 after acquiring an additional 4,577,807 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of AngloGold Ashanti by 1,767.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,788,123 shares of the mining company's stock worth $127,027,000 after buying an additional 2,638,823 shares during the last quarter. Geode Capital Management LLC lifted its position in AngloGold Ashanti by 274.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,137,721 shares of the mining company's stock worth $142,986,000 after buying an additional 2,300,204 shares during the last quarter. Coronation Fund Managers Ltd. bought a new stake in AngloGold Ashanti in the 1st quarter worth approximately $63,186,000. Finally, Norges Bank bought a new stake in AngloGold Ashanti in the 2nd quarter worth approximately $74,039,000. 36.09% of the stock is currently owned by institutional investors.

AngloGold Ashanti Company Profile

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.

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