Royal Bank of Canada Issues Positive Forecast for AngloGold Ashanti (NYSE:AU) Stock Price

AngloGold Ashanti (NYSE:AU) had its price target lifted by investment analysts at Royal Bank of Canada from $39.00 to $41.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the mining company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 22.22% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating for the company in a report on Friday, December 6th. StockNews.com upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Scotiabank increased their price objective on AngloGold Ashanti from $30.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

AngloGold Ashanti Stock Down 9.3 %

AU opened at $33.55 on Friday. The stock has a market capitalization of $14.08 billion, a P/E ratio of 10.48 and a beta of 0.81. AngloGold Ashanti has a one year low of $21.65 and a one year high of $38.63. The business’s 50-day simple moving average is $32.56 and its 200-day simple moving average is $28.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.14 and a current ratio of 1.73.

AngloGold Ashanti (NYSE:AU) last announced its earnings results on Wednesday, February 19th. The mining company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.10). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Analysts anticipate that AngloGold Ashanti will post 3.83 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in AngloGold Ashanti during the 4th quarter worth approximately $392,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of AngloGold Ashanti in the fourth quarter valued at approximately $2,115,000. Hara Capital LLC acquired a new position in AngloGold Ashanti during the fourth quarter worth $29,000. Azzad Asset Management Inc. ADV raised its position in AngloGold Ashanti by 1.9% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 121,389 shares of the mining company’s stock worth $2,802,000 after acquiring an additional 2,320 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in AngloGold Ashanti in the fourth quarter worth $562,000. 36.09% of the stock is owned by hedge funds and other institutional investors.

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.