AngloGold Ashanti Ltd. (NYSE:AU) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “strong sell” rating in a research note issued on Tuesday.
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 analysts also recently issued reports on the company. Jefferies Group reissued a “buy” rating on shares of AngloGold Ashanti in a research report on Tuesday, August 23rd. Citigroup Inc. reissued a “sell” rating on shares of AngloGold Ashanti in a research report on Thursday, August 18th. Finally, Deutsche Bank AG downgraded AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. AngloGold Ashanti currently has a consensus rating of “Hold” and an average price target of $47.00.
AngloGold Ashanti (NYSE:AU) opened at 13.29 on Tuesday. AngloGold Ashanti has a 12 month low of $6.20 and a 12 month high of $22.91. The stock has a 50 day moving average price of $15.86 and a 200 day moving average price of $16.82. The stock has a market capitalization of $5.42 billion, a P/E ratio of 49.59 and a beta of -0.93.
Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of AngloGold Ashanti by 44.7% in the first quarter. Renaissance Technologies LLC now owns 3,940,100 shares of the mining company’s stock valued at $53,940,000 after buying an additional 1,217,400 shares in the last quarter. Moore Capital Management LP bought a new stake in shares of AngloGold Ashanti during the first quarter valued at $2,875,000. ClariVest Asset Management LLC increased its stake in shares of AngloGold Ashanti by 218.3% in the second quarter. ClariVest Asset Management LLC now owns 362,500 shares of the mining company’s stock valued at $6,547,000 after buying an additional 248,600 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of AngloGold Ashanti by 165.9% in the first quarter. Wellington Management Group LLP now owns 2,797,946 shares of the mining company’s stock valued at $38,304,000 after buying an additional 1,745,858 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of AngloGold Ashanti by 7.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 97,524 shares of the mining company’s stock valued at $1,746,000 after buying an additional 6,896 shares in the last quarter. 39.88% of the stock is currently owned by institutional investors.
About AngloGold Ashanti
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.