AngloGold Ashanti (NYSE:AU) Price Target Raised to $31.00 at JPMorgan Chase & Co.

AngloGold Ashanti (NYSE:AU - Get Free Report) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $23.00 to $31.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the mining company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 30.75% from the company's previous close.

Separately, StockNews.com raised AngloGold Ashanti from a "sell" rating to a "hold" rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $24.25.

AngloGold Ashanti Stock Performance

Shares of NYSE:AU traded down $0.14 on Wednesday, reaching $23.71. 2,050,621 shares of the company's stock were exchanged, compared to its average volume of 2,157,172. The company has a fifty day moving average of $20.95 and a 200-day moving average of $18.93. AngloGold Ashanti has a twelve month low of $14.91 and a twelve month high of $30.26.

Institutional Trading of AngloGold Ashanti

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. bought a new position in AngloGold Ashanti in the 3rd quarter worth about $245,342,000. Barclays PLC purchased a new stake in shares of AngloGold Ashanti in the fourth quarter worth about $180,693,000. First Eagle Investment Management LLC lifted its holdings in shares of AngloGold Ashanti by 312.3% in the fourth quarter. First Eagle Investment Management LLC now owns 6,003,149 shares of the mining company's stock worth $112,199,000 after buying an additional 4,547,011 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of AngloGold Ashanti by 19.5% in the first quarter. BlackRock Inc. now owns 9,948,606 shares of the mining company's stock worth $240,657,000 after buying an additional 1,625,854 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of AngloGold Ashanti by 711.8% in the first quarter. JPMorgan Chase & Co. now owns 1,830,538 shares of the mining company's stock worth $44,280,000 after buying an additional 1,605,046 shares in the last quarter. 36.09% of the stock is currently owned by institutional investors.

About AngloGold Ashanti

AngloGold Ashanti plc operates as a gold mining company in Africa, the Americas, and Australia. 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 project located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.