JPMorgan Chase & Co. Issues Pessimistic Forecast for AngloGold Ashanti (NYSE:AU) Stock Price

AngloGold Ashanti (NYSE:AU) had its price objective trimmed by JPMorgan Chase & Co. from $37.00 to $32.00 in a report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the mining company’s stock.

AU has been the subject of a number of other reports. Royal Bank of Canada upgraded 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 report on Tuesday, December 3rd. Investec upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Scotiabank raised shares of AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 target price on the stock in a report on Thursday, November 21st. Finally, StockNews.com downgraded shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.75.

AngloGold Ashanti Price Performance

AU opened at $24.93 on Friday. AngloGold Ashanti has a 1-year low of $15.80 and a 1-year high of $32.57. The company has a 50 day simple moving average of $26.71 and a two-hundred day simple moving average of $27.07. The company has a current ratio of 1.73, a quick ratio of 1.19 and a debt-to-equity ratio of 0.46.

Institutional Investors Weigh In On AngloGold Ashanti

A number of hedge funds have recently bought and sold shares of the business. Tidal Investments LLC raised its stake in 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 raised its stake in 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 raised its stake in 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 purchased a new stake in AngloGold Ashanti during the third quarter valued at $1,606,000. Finally, State Street Corp raised its stake in 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. 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.