AngloGold Ashanti (NYSE:AU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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 analysts have also recently commented on the stock. upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Deutsche Bank upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a 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 price target for the company in a report on Monday, November 13th. JPMorgan Chase & Co. upgraded shares of AngloGold Ashanti from a “neutral” rating to an “overweight” rating in a report on Monday, October 16th. Finally, ValuEngine cut shares of AngloGold Ashanti from a “hold” rating to a “sell” rating in a report on Sunday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.75.

Shares of AngloGold Ashanti (NYSE:AU) traded up $0.08 on Thursday, hitting $10.60. 3,575,700 shares of the company’s stock traded hands, compared to its average volume of 3,490,750. AngloGold Ashanti has a one year low of $8.86 and a one year high of $13.68. The firm has a market capitalization of $4,340.00, a PE ratio of -26.50, a price-to-earnings-growth ratio of 0.28 and a beta of -1.40. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.65 and a current ratio of 1.57.

Several large investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new stake in shares of AngloGold Ashanti in the third quarter worth $123,000. Balyasny Asset Management LLC acquired a new stake in shares of AngloGold Ashanti in the second quarter worth $183,000. Quantbot Technologies LP acquired a new stake in shares of AngloGold Ashanti in the second quarter worth $219,000. Nationwide Fund Advisors boosted its stake in AngloGold Ashanti by 202.5% during the third quarter. Nationwide Fund Advisors now owns 24,344 shares of the mining company’s stock worth $226,000 after buying an additional 16,296 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in AngloGold Ashanti by 377.0% during the third quarter. Virtu Financial LLC now owns 84,891 shares of the mining company’s stock worth $241,000 after buying an additional 67,094 shares in the last quarter. 31.27% of the stock is currently owned by institutional investors.

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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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