AngloGold Ashanti (NYSE:AU) Price Target Raised to $53.00

AngloGold Ashanti (NYSE:AU) had its target price upped by investment analysts at JPMorgan Chase & Co. from $33.00 to $53.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 30.29% from the stock’s previous close.

A number of other research analysts also recently commented on AU. Scotiabank increased their price target on AngloGold Ashanti from $34.00 to $42.00 and gave the company a “sector perform” rating in a report on Monday, April 14th. StockNews.com upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. Royal Bank of Canada increased their price objective on shares of AngloGold Ashanti from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Finally, HSBC reissued a “reduce” rating and issued a $35.00 price objective on shares of AngloGold Ashanti in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

AngloGold Ashanti Trading Down 1.4 %

Shares of AU opened at $40.68 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.14. AngloGold Ashanti has a 12 month low of $22.13 and a 12 month high of $46.90. The stock has a market cap of $17.07 billion, a PE ratio of 12.71 and a beta of 0.81. The stock’s 50-day moving average is $35.92 and its two-hundred day moving average is $30.15.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.10). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Equities analysts forecast that AngloGold Ashanti will post 3.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of AngloGold Ashanti by 10.9% during the fourth quarter. Van ECK Associates Corp now owns 25,411,814 shares of the mining company’s stock worth $586,504,000 after buying an additional 2,491,130 shares during the period. Vanguard Group Inc. raised its stake in AngloGold Ashanti by 22.9% during the 4th quarter. Vanguard Group Inc. now owns 20,857,324 shares of the mining company’s stock valued at $467,795,000 after acquiring an additional 3,882,283 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in AngloGold Ashanti by 274.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,133,744 shares of the mining company’s stock worth $118,448,000 after acquiring an additional 3,764,165 shares during the period. Carrhae Capital LLP grew its stake in shares of AngloGold Ashanti by 170.0% in the fourth quarter. Carrhae Capital LLP now owns 3,459,193 shares of the mining company’s stock worth $79,838,000 after purchasing an additional 2,177,783 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of AngloGold Ashanti by 3,767.1% during the fourth quarter. Marshall Wace LLP now owns 2,751,410 shares of the mining company’s stock valued at $63,503,000 after purchasing an additional 2,680,261 shares during the period. 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.