Analysts Set AngloGold Ashanti plc (NYSE:AU) Target Price at $31.75

AngloGold Ashanti plc (NYSE:AU) has received an average rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $31.75.

AU has been the subject of a number of research analyst reports. Scotiabank raised shares of 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. Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note 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 note on Tuesday, December 3rd. StockNews.com downgraded shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, December 6th.

Hedge Funds Weigh In On AngloGold Ashanti

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC increased its stake in shares of AngloGold Ashanti by 80.5% during the third quarter. Tidal Investments LLC now owns 25,452 shares of the mining company’s stock valued at $678,000 after purchasing an additional 11,352 shares in the last quarter. TT International Asset Management LTD increased its stake in shares of AngloGold Ashanti by 51.3% during the third quarter. TT International Asset Management LTD now owns 2,836,110 shares of the mining company’s stock valued at $75,525,000 after purchasing an additional 962,141 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AngloGold Ashanti by 2.7% during the third quarter. Geode Capital Management LLC now owns 327,108 shares of the mining company’s stock valued at $8,711,000 after purchasing an additional 8,676 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of AngloGold Ashanti during the third quarter valued at approximately $1,606,000. Finally, State Street Corp increased its stake in shares of AngloGold Ashanti by 546.2% during the third quarter. State Street Corp now owns 211,826 shares of the mining company’s stock valued at $5,641,000 after purchasing an additional 179,045 shares in the last quarter. Institutional investors own 36.09% of the company’s stock.

AngloGold Ashanti Stock Down 1.6 %

AU opened at $24.54 on Friday. AngloGold Ashanti has a one year low of $15.80 and a one year high of $32.57. 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 firm has a market capitalization of $10.30 billion, a P/E ratio of 7.67 and a beta of 0.94. The company has a fifty day moving average price of $26.60 and a 200-day moving average price of $27.12.

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.