AngloGold Ashanti Limited (NYSE:AU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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. “

Several other equities analysts have also issued reports on AU. BidaskClub lowered AngloGold Ashanti Limited from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. ValuEngine lowered AngloGold Ashanti Limited from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. AngloGold Ashanti Limited presently has an average rating of “Hold” and an average target price of $12.43.

AngloGold Ashanti Limited (NYSE:AU) traded up 0.53% during mid-day trading on Friday, reaching $9.56. The company’s stock had a trading volume of 2,195,438 shares. AngloGold Ashanti Limited has a one year low of $8.89 and a one year high of $14.77. The firm’s market cap is $3.91 billion. The stock’s 50 day moving average is $9.65 and its 200 day moving average is $10.54.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd grew its holdings in shares of AngloGold Ashanti Limited by 22.2% during the second quarter. Dynamic Technology Lab Private Ltd now owns 29,292 shares of the mining company’s stock worth $285,000 after buying an additional 5,314 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of AngloGold Ashanti Limited during the second quarter worth about $3,810,000. Cubist Systematic Strategies LLC purchased a new position in shares of AngloGold Ashanti Limited during the second quarter worth about $442,000. State Street Corp grew its holdings in shares of AngloGold Ashanti Limited by 17.4% during the second quarter. State Street Corp now owns 160,609 shares of the mining company’s stock worth $1,560,000 after buying an additional 23,804 shares during the last quarter. Finally, Capital International Investors grew its holdings in shares of AngloGold Ashanti Limited by 57.9% during the second quarter. Capital International Investors now owns 1,506,280 shares of the mining company’s stock worth $14,641,000 after buying an additional 552,200 shares during the last quarter. 32.76% of the stock is currently owned by hedge funds and other institutional investors.

AngloGold Ashanti Limited 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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Analyst Recommendations for AngloGold Ashanti Limited (NYSE:AU)

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