Scotiabank Boosts AngloGold Ashanti (NYSE:AU) Price Target to $34.00

AngloGold Ashanti (NYSE:AU) had its price target lifted by analysts at Scotiabank from $30.00 to $34.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the mining company’s stock. Scotiabank’s price target would suggest a potential upside of 11.23% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of AngloGold Ashanti in a research note on Thursday, February 20th. Finally, StockNews.com downgraded AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.00.

AngloGold Ashanti Trading Down 4.1 %

NYSE:AU traded down $1.30 on Tuesday, reaching $30.57. 621,596 shares of the company’s stock were exchanged, compared to its average volume of 2,416,471. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.14. The stock has a fifty day simple moving average of $27.70 and a 200-day simple moving average of $27.70. AngloGold Ashanti has a 52 week low of $17.94 and a 52 week high of $33.77.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.10). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. On average, analysts anticipate that AngloGold Ashanti will post 3.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AngloGold Ashanti

Institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its holdings in shares of AngloGold Ashanti by 10.9% during the 4th quarter. Van ECK Associates Corp now owns 25,411,814 shares of the mining company’s stock worth $586,504,000 after acquiring an additional 2,491,130 shares in the last quarter. Vanguard Group Inc. raised its position in AngloGold Ashanti by 22.9% in the 4th quarter. Vanguard Group Inc. now owns 20,857,324 shares of the mining company’s stock worth $467,795,000 after purchasing an additional 3,882,283 shares during the period. FMR LLC raised its holdings in shares of AngloGold Ashanti by 39.5% in the third quarter. FMR LLC now owns 10,448,445 shares of the mining company’s stock worth $277,968,000 after buying an additional 2,957,304 shares during the period. Dimensional Fund Advisors LP boosted its holdings in AngloGold Ashanti by 274.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,133,744 shares of the mining company’s stock valued at $118,448,000 after acquiring an additional 3,764,165 shares during the period. Finally, Carrhae Capital LLP lifted its position in shares of AngloGold Ashanti by 170.0% during the fourth quarter. Carrhae Capital LLP now owns 3,459,193 shares of the mining company’s stock worth $79,838,000 after purchasing an additional 2,177,783 shares during the last quarter. 36.09% of the stock is owned by hedge funds and other institutional investors.

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.