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

Key Points

• Wall Street Zen has downgraded AngloGold Ashanti from a "buy" rating to a "hold" rating, reflecting a change in investor sentiment.
• HSBC reiterated a "reduce" rating for the stock, setting a price target of $35.00, while other firms like JPMorgan raised their price target from $58.00 to $63.00.
• AngloGold Ashanti reported a quarterly EPS of $1.25, missing expectations of $1.31, with a revenue of $2.45 billion surpassing analysts' expectations.

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

Other analysts have also recently issued research reports about the company. Roth Capital reiterated a "buy" rating on shares of AngloGold Ashanti in a report on Friday, August 1st. HSBC reissued a "reduce" rating and set a $35.00 price target on shares of AngloGold Ashanti in a research report on Thursday, April 17th. Scotiabank boosted their price target on AngloGold Ashanti from $42.00 to $43.50 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. boosted their price target on AngloGold Ashanti from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, AngloGold Ashanti has an average rating of "Hold" and an average price target of $49.60.

AngloGold Ashanti Trading Down 1.1%

AU traded down $0.61 during midday trading on Friday, hitting $56.81. The company's stock had a trading volume of 1,864,476 shares, compared to its average volume of 3,163,509. The company has a current ratio of 2.34, a quick ratio of 1.57 and a debt-to-equity ratio of 0.22. AngloGold Ashanti has a 52-week low of $22.45 and a 52-week high of $59.19. The firm has a market cap of $23.84 billion, a P/E ratio of 15.11 and a beta of 0.46. The firm has a 50-day moving average price of $48.50 and a two-hundred day moving average price of $40.70.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.31 by ($0.06). AngloGold Ashanti had a return on equity of 24.25% and a net margin of 23.60%. The firm had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.29 billion. On average, research analysts anticipate that AngloGold Ashanti will post 3.83 earnings per share for the current year.

Hedge Funds Weigh In On AngloGold Ashanti

Institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. acquired a new position in shares of AngloGold Ashanti in the 2nd quarter valued at approximately $30,000. Global Trust Asset Management LLC acquired a new position in shares of AngloGold Ashanti in the 1st quarter valued at approximately $30,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of AngloGold Ashanti in the 1st quarter valued at approximately $30,000. SVB Wealth LLC acquired a new position in shares of AngloGold Ashanti in the 1st quarter valued at approximately $32,000. Finally, Hara Capital LLC acquired a new position in shares of AngloGold Ashanti in the 4th quarter valued at approximately $29,000. 36.09% of the stock is owned by institutional investors and hedge funds.

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.