AngloGold Ashanti (NYSE:AU) Rating Lowered to Reduce at HSBC

AngloGold Ashanti (NYSE:AU) was downgraded by equities research analysts at HSBC from a “hold” rating to a “reduce” rating in a note issued to investors on Friday, MarketBeat reports.

A number of other analysts have also recently issued reports on AU. JPMorgan Chase & Co. boosted their target price on AngloGold Ashanti from $23.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com upgraded AngloGold Ashanti from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, AngloGold Ashanti currently has an average rating of “Hold” and an average target price of $24.25.

AngloGold Ashanti Stock Up 0.5 %

NYSE AU opened at $23.84 on Friday. AngloGold Ashanti has a 12 month low of $14.91 and a 12 month high of $30.26. The company has a 50-day moving average of $21.08 and a 200-day moving average of $19.02.

Institutional Investors Weigh In On AngloGold Ashanti

Several institutional investors and hedge funds have recently made changes to their positions in AU. Bank of New York Mellon Corp acquired a new stake in shares of AngloGold Ashanti during the 1st quarter valued at approximately $282,000. APG Asset Management N.V. acquired a new stake in AngloGold Ashanti in the first quarter worth $2,163,000. Vontobel Holding Ltd. increased its position in AngloGold Ashanti by 395.1% in the first quarter. Vontobel Holding Ltd. now owns 82,383 shares of the mining company’s stock worth $1,973,000 after buying an additional 65,743 shares during the period. Allianz Asset Management GmbH increased its position in AngloGold Ashanti by 51.6% in the first quarter. Allianz Asset Management GmbH now owns 2,050,334 shares of the mining company’s stock worth $48,572,000 after buying an additional 697,908 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in AngloGold Ashanti by 44.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,412,291 shares of the mining company’s stock worth $33,457,000 after buying an additional 432,001 shares during the period. 36.09% of the stock is owned by institutional investors and hedge funds.

About AngloGold Ashanti

AngloGold Ashanti plc operates as a gold mining company in Africa, the Americas, and Australia. 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 project located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.