AngloGold Ashanti (AU) Lifted to “Outperform” at Royal Bank of Canada

AngloGold Ashanti (NYSE:AU) was upgraded by Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Monday, November 13th, Marketbeat Ratings reports. The firm currently has a $11.50 price target on the mining company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.86% from the company’s previous close.

Several other analysts have also issued reports on AU. BidaskClub lowered shares of AngloGold Ashanti from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research lowered shares of AngloGold Ashanti from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. JPMorgan Chase & Co. upgraded shares of AngloGold Ashanti from a “neutral” rating to an “overweight” rating in a research report on Monday, October 16th. Finally, upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.50.

AngloGold Ashanti (AU) traded down $0.04 during midday trading on Monday, reaching $10.19. 2,519,591 shares of the company’s stock traded hands, compared to its average volume of 3,142,857. The company has a current ratio of 1.57, a quick ratio of 0.65 and a debt-to-equity ratio of 0.88. AngloGold Ashanti has a 52 week low of $8.86 and a 52 week high of $13.68.

Several large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its holdings in shares of AngloGold Ashanti by 377.0% during the 3rd quarter. Virtu Financial LLC now owns 84,891 shares of the mining company’s stock worth $241,000 after acquiring an additional 67,094 shares during the period. Oaktree Capital Management LP lifted its holdings in shares of AngloGold Ashanti by 5.2% during the 3rd quarter. Oaktree Capital Management LP now owns 3,237,041 shares of the mining company’s stock worth $30,072,000 after acquiring an additional 159,816 shares during the period. AMP Capital Investors Ltd bought a new position in shares of AngloGold Ashanti during the 3rd quarter worth about $969,000. Allianz Asset Management GmbH lifted its holdings in shares of AngloGold Ashanti by 5.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,493,787 shares of the mining company’s stock worth $13,877,000 after acquiring an additional 76,317 shares during the period. Finally, OxFORD Asset Management LLP lifted its holdings in shares of AngloGold Ashanti by 17.9% during the 3rd quarter. OxFORD Asset Management LLP now owns 104,703 shares of the mining company’s stock worth $981,000 after acquiring an additional 15,886 shares during the period. 31.27% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by American Banking and Market News and is the sole property of of American Banking and Market News. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/31/anglogold-ashanti-au-lifted-to-outperform-at-royal-bank-of-canada.html.

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.