AngloGold Ashanti (NYSE:AU) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued 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. “
Separately, ValuEngine downgraded shares of AngloGold Ashanti from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $10.75.
In related news, Director Lotan Holdings Inc. acquired 29,400 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $1.05 per share, for a total transaction of $30,870.00. In the last quarter, insiders have purchased 115,300 shares of company stock valued at $109,583.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in AngloGold Ashanti by 38.5% in the first quarter. BlackRock Inc. now owns 25,975,108 shares of the mining company’s stock valued at $246,504,000 after acquiring an additional 7,226,555 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of AngloGold Ashanti by 3.1% during the first quarter. Van ECK Associates Corp now owns 19,455,936 shares of the mining company’s stock worth $184,637,000 after buying an additional 583,710 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of AngloGold Ashanti by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 12,718,774 shares of the mining company’s stock worth $120,701,000 after buying an additional 91,160 shares during the period. Oaktree Capital Management LP boosted its stake in shares of AngloGold Ashanti by 0.4% during the first quarter. Oaktree Capital Management LP now owns 3,384,965 shares of the mining company’s stock worth $32,123,000 after buying an additional 14,643 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of AngloGold Ashanti by 233.0% during the fourth quarter. Deutsche Bank AG now owns 3,336,817 shares of the mining company’s stock worth $34,002,000 after buying an additional 2,334,622 shares during the period. Institutional investors own 31.50% of the company’s stock.
About AngloGold Ashanti
AngloGold Ashanti Limited operates as a gold mining and exploration company. The company also produces silver, uranium oxide, copper, and sulphuric acid. Its portfolio includes 17 mines in South Africa, Continental Africa, Australasia, and the Americas. AngloGold Ashanti Limited was founded in 1944 and is headquartered in Johannesburg, South Africa.
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