AngloGold Ashanti Limited (NYSE:AU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “AngloGold Limited is the largest gold producer at 7 million ounces a year, with reserves of 126 m oz. The company has operations in six countries on three continents, some of which are joint ventures, as well as exploration activities in ten countries. AngloGold can be financially characterized by high cash generation, substantial reinvestment in long-term growth and the payment of significant dividends. The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market, particularly in Asia. “

A number of other research analysts have also weighed in on AU. BidaskClub lowered AngloGold Ashanti Limited from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. ValuEngine lowered AngloGold Ashanti Limited from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $13.22.

AngloGold Ashanti Limited (NYSE AU) traded up 1.74% during midday trading on Friday, hitting $9.94. The stock had a trading volume of 3,158,173 shares. The firm has a 50-day moving average price of $9.72 and a 200-day moving average price of $10.65. AngloGold Ashanti Limited has a 1-year low of $8.89 and a 1-year high of $17.23. The firm’s market capitalization is $4.07 billion.

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Several hedge funds have recently bought and sold shares of AU. BlackRock Inc. increased its holdings in shares of AngloGold Ashanti Limited by 1,416.7% during the 1st quarter. BlackRock Inc. now owns 27,630,810 shares of the mining company’s stock worth $297,583,000 after acquiring an additional 25,808,998 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of AngloGold Ashanti Limited by 16.9% during the 1st quarter. Van ECK Associates Corp now owns 28,608,742 shares of the mining company’s stock worth $308,116,000 after acquiring an additional 4,139,327 shares during the last quarter. Credit Agricole S A increased its holdings in shares of AngloGold Ashanti Limited by 233.0% during the 1st quarter. Credit Agricole S A now owns 1,443,841 shares of the mining company’s stock worth $15,550,000 after acquiring an additional 1,010,200 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of AngloGold Ashanti Limited by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,411,363 shares of the mining company’s stock worth $120,644,000 after acquiring an additional 668,689 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of AngloGold Ashanti Limited by 3,236.8% during the 1st quarter. Jane Street Group LLC now owns 591,010 shares of the mining company’s stock worth $6,365,000 after acquiring an additional 573,298 shares during the last quarter. 32.76% of the stock is currently owned by institutional investors and hedge funds.

About AngloGold Ashanti Limited

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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