AngloGold Ashanti (NYSE:AU) PT Raised to $37.00 at JPMorgan Chase & Co.

AngloGold Ashanti (NYSE:AU) had its price target upped by research analysts at JPMorgan Chase & Co. from $32.00 to $37.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 36.13% from the stock’s current price.

Other research analysts have also issued reports about the company. StockNews.com raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. BMO Capital Markets increased their price objective on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Scotiabank reissued a “sector underperform” rating and set a $30.00 target price (up from $27.00) on shares of AngloGold Ashanti in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, AngloGold Ashanti has an average rating of “Hold” and an average price target of $33.67.

AngloGold Ashanti Price Performance

AngloGold Ashanti stock opened at $27.18 on Thursday. AngloGold Ashanti has a 12 month low of $15.60 and a 12 month high of $32.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.19 and a current ratio of 1.83. The stock’s 50-day moving average is $28.72 and its 200-day moving average is $26.08.

AngloGold Ashanti (NYSE:AU) last posted its quarterly earnings results on Tuesday, August 6th. The mining company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.51 by $0.09. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business posted $0.17 EPS. Equities research analysts anticipate that AngloGold Ashanti will post 2.58 earnings per share for the current year.

Institutional Trading of AngloGold Ashanti

Several large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of AngloGold Ashanti by 7.6% in the 1st quarter. Van ECK Associates Corp now owns 27,747,289 shares of the mining company’s stock valued at $615,990,000 after purchasing an additional 1,948,322 shares during the period. Vanguard Group Inc. lifted its position in AngloGold Ashanti by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 16,808,722 shares of the mining company’s stock worth $373,154,000 after buying an additional 65,025 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of AngloGold Ashanti by 5.6% during the 1st quarter. Russell Investments Group Ltd. now owns 3,396,216 shares of the mining company’s stock valued at $75,396,000 after buying an additional 181,081 shares during the period. Coronation Fund Managers Ltd. boosted its stake in shares of AngloGold Ashanti by 24.3% during the 1st quarter. Coronation Fund Managers Ltd. now owns 2,201,551 shares of the mining company’s stock valued at $48,874,000 after buying an additional 431,025 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of AngloGold Ashanti by 23.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,032,491 shares of the mining company’s stock valued at $37,987,000 after acquiring an additional 379,701 shares in the last quarter. 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, 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.