Gabelli Begins Coverage on AngloGold Ashanti Ltd. (AU)
Stock analysts at Gabelli assumed coverage on shares of AngloGold Ashanti Ltd. (NYSE:AU) in a research report issued on Tuesday, The Fly reports. The firm set a “buy” rating on the mining company’s stock.
Several other research analysts have also commented on AU. Zacks Investment Research raised shares of AngloGold Ashanti from a “strong sell” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, July 12th. Deutsche Bank AG lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Citigroup Inc. reaffirmed a “sell” rating on shares of AngloGold Ashanti in a report on Thursday, August 18th. Finally, Jefferies Group reiterated a “buy” rating on shares of AngloGold Ashanti in a research report on Tuesday, August 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.00.
AngloGold Ashanti (NYSE:AU) opened at 13.36 on Tuesday. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 49.85 and a beta of -0.93. The firm’s 50-day moving average is $15.50 and its 200 day moving average is $16.84. AngloGold Ashanti has a 12 month low of $6.20 and a 12 month high of $22.91.
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Hedge funds have recently added to or reduced their stakes in the company. Seven Eight Capital LLC increased its stake in AngloGold Ashanti by 40.7% in the first quarter. Seven Eight Capital LLC now owns 7,600 shares of the mining company’s stock worth $104,000 after buying an additional 2,200 shares during the period. Invictus RG bought a new stake in AngloGold Ashanti during the second quarter worth approximately $154,000. Principal Financial Group Inc. bought a new stake in AngloGold Ashanti during the second quarter worth approximately $186,000. Bailard Inc. increased its stake in AngloGold Ashanti by 9.2% in the second quarter. Bailard Inc. now owns 13,106 shares of the mining company’s stock worth $237,000 after buying an additional 1,106 shares during the period. Finally, Stifel Financial Corp increased its stake in AngloGold Ashanti by 17.8% in the second quarter. Stifel Financial Corp now owns 14,717 shares of the mining company’s stock worth $267,000 after buying an additional 2,227 shares during the period. Institutional investors own 39.88% of the company’s stock.
AngloGold Ashanti Company Profile
AngloGold Ashanti Limited (AngloGold Ashanti) is a gold mining company. The Company’s business activities span the spectrum of the mining value chain. Its main product is gold. Its portfolio includes over 17 mines in approximately nine countries. It also produces silver, uranium and sulfuric acid as by-products.
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