AngloGold Ashanti (NYSE:AU) Rating Increased to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of AngloGold Ashanti (NYSE:AU) from a sector perform rating to an outperform rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has $31.00 price target on the mining company’s stock.

Several other equities analysts also recently commented on the stock. StockNews.com downgraded shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Investec upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. BMO Capital Markets increased their price target on AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Scotiabank raised AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price objective for the company in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.00.

AngloGold Ashanti Stock Up 4.3 %

AU opened at $25.69 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.19 and a current ratio of 1.73. The business has a fifty day simple moving average of $26.89 and a 200 day simple moving average of $27.06. AngloGold Ashanti has a 1 year low of $15.80 and a 1 year high of $32.57.

Hedge Funds Weigh In On AngloGold Ashanti

A number of institutional investors have recently modified their holdings of the business. CWM LLC boosted its position in AngloGold Ashanti by 26.1% in the second quarter. CWM LLC now owns 2,383 shares of the mining company’s stock valued at $60,000 after buying an additional 493 shares in the last quarter. GAMMA Investing LLC grew its position in AngloGold Ashanti by 17.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock worth $74,000 after acquiring an additional 433 shares during the last quarter. Blue Trust Inc. raised its position in AngloGold Ashanti by 338.3% in the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock valued at $87,000 after purchasing an additional 2,679 shares during the last quarter. SG Americas Securities LLC bought a new position in AngloGold Ashanti in the third quarter valued at about $126,000. Finally, Cigna Investments Inc. New acquired a new stake in shares of AngloGold Ashanti during the second quarter valued at about $206,000. Institutional investors and hedge funds own 36.09% of the company’s stock.

About AngloGold Ashanti

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.