AngloGold Ashanti (AU) Rating Increased to Buy at Zacks Investment Research

AngloGold Ashanti (NYSE:AU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $11.00 price target on the mining company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 2.61% from the stock’s previous close.

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 research analysts have also recently commented on AU. upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Royal Bank of Canada upgraded AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $11.50 price objective on the stock in a research note on Monday, November 13th. Deutsche Bank upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. Finally, ValuEngine cut AngloGold Ashanti from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Three equities 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. AngloGold Ashanti presently has an average rating of “Hold” and an average target price of $11.25.

AngloGold Ashanti (NYSE:AU) traded up $0.52 during midday trading on Wednesday, reaching $10.72. The company’s stock had a trading volume of 6,172,233 shares, compared to its average volume of 3,301,888. The company has a market cap of $4,330.00, a PE ratio of -26.80, a price-to-earnings-growth ratio of 0.24 and a beta of -1.18. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.57 and a quick ratio of 0.65. AngloGold Ashanti has a 12-month low of $8.86 and a 12-month high of $13.35.

In related news, Director Lotan Holdings Inc. acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were bought at an average price of $0.92 per share, for a total transaction of $46,000.00.

Several hedge funds have recently bought and sold shares of the stock. Two Sigma Investments LP increased its holdings in shares of AngloGold Ashanti by 2,351.4% during the 4th quarter. Two Sigma Investments LP now owns 666,023 shares of the mining company’s stock worth $6,787,000 after acquiring an additional 638,854 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of AngloGold Ashanti by 41.4% during the 4th quarter. Two Sigma Advisers LP now owns 312,700 shares of the mining company’s stock worth $3,186,000 after acquiring an additional 91,600 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of AngloGold Ashanti by 233.0% during the 4th quarter. Deutsche Bank AG now owns 3,336,817 shares of the mining company’s stock worth $34,002,000 after acquiring an additional 2,334,622 shares during the last quarter. CoreCommodity Management LLC acquired a new position in shares of AngloGold Ashanti during the 4th quarter worth approximately $665,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of AngloGold Ashanti during the 4th quarter worth approximately $4,117,000. 30.85% of the stock is currently owned by institutional investors and hedge funds.

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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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