AngloGold Ashanti (NYSE:AU) Stock Rating Upgraded by Scotiabank

AngloGold Ashanti (NYSE:AU) was upgraded by stock analysts at Scotiabank from a “sector underperform” rating to a “sector perform” rating in a research note issued to investors on Thursday, Marketbeat reports.

AU has been the topic of several other research reports. JPMorgan Chase & Co. raised their price objective on AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Investec raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. StockNews.com lowered AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets increased their target price on AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, AngloGold Ashanti currently has a consensus rating of “Hold” and a consensus price target of $33.67.

AngloGold Ashanti Price Performance

AU opened at $24.54 on Thursday. The firm’s fifty day moving average is $27.41 and its two-hundred day moving average is $26.99. AngloGold Ashanti has a twelve month low of $15.80 and a twelve month high of $32.57. The company has a current ratio of 1.83, a quick ratio of 1.19 and a debt-to-equity ratio of 0.48.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. CWM LLC boosted its position in AngloGold Ashanti by 26.1% during the 2nd quarter. CWM LLC now owns 2,383 shares of the mining company’s stock worth $60,000 after acquiring an additional 493 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of AngloGold Ashanti by 17.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock valued at $74,000 after buying an additional 433 shares during the last quarter. Blue Trust Inc. grew its position in shares of AngloGold Ashanti by 338.3% in the 2nd quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock valued at $87,000 after acquiring an additional 2,679 shares during the period. Toronto Dominion Bank acquired a new position in shares of AngloGold Ashanti during the 1st quarter worth about $118,000. Finally, SG Americas Securities LLC acquired a new position in shares of AngloGold Ashanti during the 3rd quarter worth about $126,000. 36.09% of the stock is currently owned by institutional investors.

About AngloGold Ashanti

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.