AngloGold Ashanti (NYSE:AU) PT Raised to $27.00

AngloGold Ashanti (NYSE:AU) had its price target raised by stock analysts at Scotiabank from $26.00 to $27.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the mining company’s stock. Scotiabank’s target price suggests a potential downside of 12.28% from the company’s previous close.

Several other research analysts have also recently weighed in on AU. StockNews.com raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their target price on shares of AngloGold Ashanti from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 3rd. HSBC lowered shares of AngloGold Ashanti from a “hold” rating to a “reduce” rating in a report on Friday, April 19th. Finally, BMO Capital Markets lifted their target price on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.75.

AngloGold Ashanti Trading Up 3.9 %

Shares of AngloGold Ashanti stock opened at $30.78 on Monday. The firm has a fifty day moving average of $26.42 and a two-hundred day moving average of $23.38. AngloGold Ashanti has a 52 week low of $14.91 and a 52 week high of $31.35.

AngloGold Ashanti (NYSE:AU) last announced its earnings results on Tuesday, August 6th. The mining company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company posted $0.17 earnings per share. Sell-side analysts predict that AngloGold Ashanti will post 2.29 earnings per share for the current year.

Institutional Investors Weigh In On AngloGold Ashanti

Several institutional investors have recently added to or reduced their stakes in AU. CWM LLC increased its stake in shares of AngloGold Ashanti by 36.1% in the 1st quarter. CWM LLC now owns 1,890 shares of the mining company’s stock worth $42,000 after acquiring an additional 501 shares in the last quarter. GAMMA Investing LLC lifted its holdings in AngloGold Ashanti by 108.9% during the first quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock valued at $56,000 after purchasing an additional 1,306 shares in the last quarter. Blue Trust Inc. raised its position in shares of AngloGold Ashanti by 338.3% during the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock valued at $87,000 after buying an additional 2,679 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of AngloGold Ashanti by 32.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company’s stock valued at $79,000 after buying an additional 1,032 shares during the last quarter. Finally, Toronto Dominion Bank bought a new stake in shares of AngloGold Ashanti during the first quarter valued at approximately $118,000. 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.