AngloGold Ashanti plc (NYSE:AU) Receives $31.75 Average Price Target from Analysts

Shares of AngloGold Ashanti plc (NYSE:AU) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $31.75.

A number of analysts have recently weighed in on AU shares. Scotiabank upgraded 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 research note on Thursday, November 21st. StockNews.com lowered AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Investec raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lowered their price target on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Royal Bank of Canada raised shares of AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a report on Tuesday, December 3rd.

AngloGold Ashanti Stock Performance

Shares of AU opened at $26.03 on Wednesday. AngloGold Ashanti has a one year low of $15.80 and a one year high of $32.57. The company has a 50-day moving average of $24.85 and a two-hundred day moving average of $27.14. 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 market cap of $10.93 billion, a price-to-earnings ratio of 8.13 and a beta of 0.94.

Institutional Investors Weigh In On AngloGold Ashanti

Several large investors have recently made changes to their positions in AU. SG Americas Securities LLC bought a new position in shares of AngloGold Ashanti in the 3rd quarter valued at about $126,000. JPMorgan Chase & Co. increased its position in AngloGold Ashanti by 378.2% during the third quarter. JPMorgan Chase & Co. now owns 4,782 shares of the mining company’s stock worth $127,000 after buying an additional 3,782 shares during the last quarter. Blue Trust Inc. raised its stake in AngloGold Ashanti by 72.6% in the third quarter. Blue Trust Inc. now owns 5,991 shares of the mining company’s stock valued at $151,000 after buying an additional 2,520 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of AngloGold Ashanti in the third quarter valued at approximately $222,000. Finally, Ballentine Partners LLC boosted its stake in shares of AngloGold Ashanti by 5.9% during the 2nd quarter. Ballentine Partners LLC now owns 12,279 shares of the mining company’s stock worth $309,000 after acquiring an additional 682 shares during the period. Institutional investors own 36.09% of the company’s stock.

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.