JPMorgan Chase & Co. Lowers AngloGold Ashanti (NYSE:AU) Price Target to $26.10

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AngloGold Ashanti (NYSE:AU) had its target price trimmed by JPMorgan Chase & Co. from $26.60 to $26.10 in a research report report published on Thursday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the mining company’s stock.

AU has been the subject of several other reports. BMO Capital Markets raised shares of AngloGold Ashanti from a market perform rating to an outperform rating and boosted their price objective for the company from $16.00 to $21.00 in a report on Thursday, June 27th. Royal Bank of Canada raised shares of AngloGold Ashanti from a sector perform rating to an outperform rating and set a $17.05 price objective for the company in a report on Wednesday, June 26th. Zacks Investment Research raised shares of AngloGold Ashanti from a hold rating to a buy rating and set a $23.00 price objective for the company in a report on Thursday, August 15th. Finally, ValuEngine cut shares of AngloGold Ashanti from a buy rating to a hold rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $20.23.

Shares of NYSE AU opened at $18.84 on Thursday. The firm’s 50 day moving average price is $20.78 and its 200-day moving average price is $15.88. The company has a market cap of $8.12 billion, a PE ratio of 35.55, a P/E/G ratio of 0.40 and a beta of -0.90. AngloGold Ashanti has a 52-week low of $7.91 and a 52-week high of $23.85. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.90.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in AngloGold Ashanti by 17.3% during the second quarter. BlackRock Inc. now owns 17,378,854 shares of the mining company’s stock valued at $309,518,000 after buying an additional 2,564,271 shares during the last quarter. AQR Capital Management LLC increased its holdings in AngloGold Ashanti by 351.6% during the second quarter. AQR Capital Management LLC now owns 4,096,410 shares of the mining company’s stock valued at $72,957,000 after buying an additional 3,189,262 shares during the last quarter. Oaktree Capital Management LP increased its holdings in AngloGold Ashanti by 3.1% during the first quarter. Oaktree Capital Management LP now owns 3,170,233 shares of the mining company’s stock valued at $41,530,000 after buying an additional 93,995 shares during the last quarter. Acadian Asset Management LLC increased its holdings in AngloGold Ashanti by 480.5% during the first quarter. Acadian Asset Management LLC now owns 2,772,905 shares of the mining company’s stock valued at $36,324,000 after buying an additional 2,295,235 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in AngloGold Ashanti by 0.7% during the first quarter. Wells Fargo & Company MN now owns 2,728,921 shares of the mining company’s stock valued at $35,748,000 after buying an additional 19,783 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

About AngloGold Ashanti

AngloGold Ashanti Limited operates as a gold mining company. It also produces silver, uranium, and sulphuric acid; and dóre bars. The company operates 14 mines and 3 projects in 10 countries in South Africa, Continental Africa, the Americas, and Australasia. AngloGold Ashanti Limited was incorporated in 1944 and is headquartered in Johannesburg, South Africa.

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Analyst Recommendations for AngloGold Ashanti (NYSE:AU)

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