AngloGold Ashanti (NYSE:AU) Upgraded at Scotiabank

Scotiabank upgraded shares of AngloGold Ashanti (NYSE:AU) from a sector underperform rating to a sector perform rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The brokerage currently has $30.00 price objective on the mining company’s stock.

Other research analysts have also recently issued reports about the company. BMO Capital Markets boosted their target price on AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com lowered AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Investec raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.67.

AngloGold Ashanti Stock Performance

NYSE:AU opened at $25.95 on Thursday. The company has a market cap of $10.89 billion, a P/E ratio of 8.11 and a beta of 0.96. AngloGold Ashanti has a twelve month low of $15.80 and a twelve month high of $32.57. The company’s 50-day moving average price is $27.31 and its 200-day moving average price is $26.99. The company has a current ratio of 1.83, a quick ratio of 1.19 and a debt-to-equity ratio of 0.48.

Hedge Funds Weigh In On AngloGold Ashanti

A number of hedge funds have recently made changes to their positions in AU. Chesapeake Capital Corp IL boosted its position in shares of AngloGold Ashanti by 3.1% during the second quarter. Chesapeake Capital Corp IL now owns 14,100 shares of the mining company’s stock worth $354,000 after buying an additional 429 shares during the period. GAMMA Investing LLC boosted its holdings in AngloGold Ashanti by 17.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock valued at $74,000 after acquiring an additional 433 shares during the period. US Bancorp DE grew its position in AngloGold Ashanti by 1.0% in the 3rd quarter. US Bancorp DE now owns 47,103 shares of the mining company’s stock valued at $1,254,000 after acquiring an additional 466 shares in the last quarter. CWM LLC increased its stake in AngloGold Ashanti by 26.1% during the second quarter. CWM LLC now owns 2,383 shares of the mining company’s stock worth $60,000 after purchasing an additional 493 shares during the period. Finally, Sei Investments Co. lifted its position in shares of AngloGold Ashanti by 1.0% during the second quarter. Sei Investments Co. now owns 64,843 shares of the mining company’s stock worth $1,630,000 after purchasing an additional 656 shares in the last quarter. Hedge funds and other institutional investors 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.