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

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. “

Other equities research analysts also recently issued reports about the company. BidaskClub upgraded AngloGold Ashanti Limited from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. J P Morgan Chase & Co upgraded AngloGold Ashanti Limited from a “neutral” rating to an “overweight” rating in a report on Monday. Finally, ValuEngine downgraded AngloGold Ashanti Limited from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $12.43.

Shares of AngloGold Ashanti Limited (NYSE AU) traded down 1.99% during midday trading on Tuesday, reaching $9.36. The company’s stock had a trading volume of 2,750,183 shares. The company’s market cap is $3.83 billion. AngloGold Ashanti Limited has a 12 month low of $8.89 and a 12 month high of $14.77. The stock has a 50-day moving average of $9.68 and a 200 day moving average of $10.46.

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Several large investors have recently bought and sold shares of the stock. Comerica Bank grew its holdings in shares of AngloGold Ashanti Limited by 1.3% during the first quarter. Comerica Bank now owns 23,405 shares of the mining company’s stock worth $263,000 after buying an additional 306 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of AngloGold Ashanti Limited by 4.3% during the second quarter. Bank of Montreal Can now owns 52,654 shares of the mining company’s stock worth $512,000 after buying an additional 2,176 shares in the last quarter. 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 in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of AngloGold Ashanti Limited by 11.3% during the second quarter. BNP Paribas Arbitrage SA now owns 55,611 shares of the mining company’s stock worth $541,000 after buying an additional 5,634 shares in the last quarter. Finally, Boyer & Corporon Wealth Management LLC grew its holdings in shares of AngloGold Ashanti Limited by 3.4% during the second quarter. Boyer & Corporon Wealth Management LLC now owns 342,405 shares of the mining company’s stock worth $3,328,000 after buying an additional 11,146 shares in the last quarter. Institutional investors and hedge funds own 32.74% of the company’s stock.

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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Analyst Recommendations for AngloGold Ashanti Limited (NYSE:AU)

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