AngloGold Ashanti (NYSE:AU) Upgraded at Weiss Ratings

Key Points

• AngloGold Ashanti was upgraded from a "hold (c+)" to a "buy (b-)" rating by Weiss Ratings, indicating increased analyst confidence in the company's stock.
• Five analysts have rated the stock as a Buy, with an average price target of $65.00, reflecting positive sentiment among research analysts.
• The company's latest earnings report revealed a quarterly revenue of $2.45 billion, surpassing analyst expectations, though earnings per share slightly missed estimates.

AngloGold Ashanti (NYSE:AU - Get Free Report) was upgraded by analysts at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on the stock. Zacks Research upgraded shares of AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Wall Street Zen raised shares of AngloGold Ashanti from a "hold" rating to a "buy" rating in a report on Friday, September 26th. JPMorgan Chase & Co. boosted their price target 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. Scotiabank raised shares of AngloGold Ashanti from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $55.00 to $90.00 in a report on Thursday. Finally, HSBC reissued a "reduce" rating and issued a $55.00 price target on shares of AngloGold Ashanti in a report on Thursday, October 9th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.00.

AngloGold Ashanti Stock Performance

Shares of AU traded up $0.02 during trading hours on Friday, hitting $68.63. The stock had a trading volume of 2,059,909 shares, compared to its average volume of 3,170,758. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.22 and a current ratio of 2.99. The firm has a 50-day moving average price of $65.28 and a 200 day moving average price of $52.54. AngloGold Ashanti has a fifty-two week low of $22.45 and a fifty-two week high of $79.94. The firm has a market capitalization of $28.80 billion, a price-to-earnings ratio of 18.25 and a beta of 0.53.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its earnings results on Friday, August 1st. The mining company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $2.29 billion. As a group, research analysts anticipate that AngloGold Ashanti will post 3.83 EPS for the current year.

Institutional Investors Weigh In On AngloGold Ashanti

A number of large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC purchased a new stake in shares of AngloGold Ashanti during the third quarter worth $4,937,000. Benjamin Edwards Inc. purchased a new stake in shares of AngloGold Ashanti during the third quarter worth $262,000. HB Wealth Management LLC purchased a new stake in shares of AngloGold Ashanti during the third quarter worth $280,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of AngloGold Ashanti by 27.2% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,257 shares of the mining company's stock worth $88,000 after buying an additional 269 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of AngloGold Ashanti during the third quarter worth $7,733,000. Hedge funds and other institutional investors own 36.09% of the company's stock.

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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