AngloGold Ashanti (NYSE:AU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $12.00 target price on the mining company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.21% from the company’s current price.

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 equities analysts have also issued reports on AU. ValuEngine lowered shares of AngloGold Ashanti from a “hold” rating to a “sell” rating in a research report on Sunday. Deutsche Bank upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. Royal Bank of Canada upgraded shares of AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $11.50 target price on the stock in a research report on Monday, November 13th. upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Finally, JPMorgan Chase & Co. upgraded shares of AngloGold Ashanti from a “neutral” rating to an “overweight” rating in a research report on Monday, October 16th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $11.75.

AngloGold Ashanti (NYSE:AU) traded up $0.08 during trading hours on Wednesday, reaching $10.60. 3,570,000 shares of the company’s stock were exchanged, compared to its average volume of 3,050,000. The firm has a market capitalization of $4,290.00, a price-to-earnings ratio of -26.50, a PEG ratio of 0.27 and a beta of -1.40. AngloGold Ashanti has a 52-week low of $8.86 and a 52-week high of $13.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.65 and a current ratio of 1.57.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in AngloGold Ashanti by 3.0% in the second quarter. BlackRock Inc. now owns 28,450,519 shares of the mining company’s stock valued at $276,540,000 after buying an additional 819,709 shares during the period. Dimensional Fund Advisors LP lifted its holdings in AngloGold Ashanti by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 12,807,917 shares of the mining company’s stock valued at $119,006,000 after buying an additional 396,554 shares during the period. FMR LLC lifted its holdings in AngloGold Ashanti by 1.3% in the second quarter. FMR LLC now owns 3,838,325 shares of the mining company’s stock valued at $37,309,000 after buying an additional 48,640 shares during the period. Oaktree Capital Management LP lifted its holdings in AngloGold Ashanti by 5.2% in the third quarter. Oaktree Capital Management LP now owns 3,237,041 shares of the mining company’s stock valued at $30,072,000 after buying an additional 159,816 shares during the period. Finally, Capital International Investors lifted its holdings in AngloGold Ashanti by 57.9% in the second quarter. Capital International Investors now owns 1,506,280 shares of the mining company’s stock valued at $14,641,000 after buying an additional 552,200 shares during the period. Institutional investors and hedge funds own 31.27% of the company’s stock.

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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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