JPMorgan Chase & Co. Cuts AngloGold Ashanti (NYSE:AU) Price Target to $32.00

AngloGold Ashanti (NYSE:AU) had its price objective decreased by JPMorgan Chase & Co. from $37.00 to $32.00 in a research note released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the mining company’s stock.

A number of other equities research analysts have also weighed in on AU. Scotiabank raised shares of AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 target price on the stock in a research note on Thursday, November 21st. Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada raised shares of AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research report on Tuesday, December 3rd. Finally, StockNews.com cut shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.75.

AngloGold Ashanti Trading Down 2.8 %

Shares of AngloGold Ashanti stock opened at $24.93 on Friday. The company’s fifty day simple moving average is $26.71 and its two-hundred day simple moving average is $27.07. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.19. AngloGold Ashanti has a 12-month low of $15.80 and a 12-month high of $32.57.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. CWM LLC grew its position in AngloGold Ashanti by 26.1% during 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 during the period. GAMMA Investing LLC grew its position in AngloGold Ashanti by 17.3% during the second quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock valued at $74,000 after buying an additional 433 shares during the period. Blue Trust Inc. grew its position in AngloGold Ashanti by 338.3% during the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock valued at $87,000 after buying an additional 2,679 shares during the period. SG Americas Securities LLC bought a new stake in AngloGold Ashanti during the third quarter valued at approximately $126,000. Finally, Cigna Investments Inc. New bought a new stake in AngloGold Ashanti during the second quarter valued at approximately $206,000. 36.09% of the stock is owned by hedge funds and other institutional investors.

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.