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

AngloGold Ashanti (NYSE:AU) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $23.00 to $31.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 30.75% from the stock’s previous close.

Separately, StockNews.com raised shares of AngloGold Ashanti from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.25.

AngloGold Ashanti Stock Down 0.6 %

NYSE AU opened at $23.71 on Wednesday. The firm’s 50-day moving average is $20.95 and its two-hundred day moving average is $18.93. AngloGold Ashanti has a 12 month low of $14.91 and a 12 month high of $30.26.

Institutional Investors Weigh In On AngloGold Ashanti

Several large investors have recently modified their holdings of AU. Van ECK Associates Corp lifted its holdings in shares of AngloGold Ashanti by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 25,798,967 shares of the mining company’s stock worth $482,183,000 after purchasing an additional 898,196 shares during the period. Vanguard Group Inc. lifted its holdings in shares of AngloGold Ashanti by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 16,743,697 shares of the mining company’s stock worth $312,940,000 after purchasing an additional 1,215,741 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in AngloGold Ashanti by 5.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,002,317 shares of the mining company’s stock valued at $162,724,000 after acquiring an additional 594,702 shares during the period. BlackRock Inc. lifted its holdings in AngloGold Ashanti by 2.3% in the second quarter. BlackRock Inc. now owns 10,174,686 shares of the mining company’s stock valued at $214,584,000 after acquiring an additional 226,080 shares during the period. Finally, Barclays PLC acquired a new stake in AngloGold Ashanti in the fourth quarter valued at $180,693,000. 36.09% of the stock is owned by institutional investors and hedge funds.

AngloGold Ashanti Company Profile

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.