AngloGold Ashanti (NYSE:AU) Lowered to “Reduce” at HSBC

HSBC downgraded shares of AngloGold Ashanti (NYSE:AU) from a hold rating to a reduce rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

Other equities analysts have also issued reports about the company. StockNews.com raised AngloGold Ashanti from a sell rating to a hold rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. upped their target price on AngloGold Ashanti from $23.00 to $31.00 and gave the stock an overweight rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $24.25.

AngloGold Ashanti Stock Performance

AngloGold Ashanti stock opened at $23.84 on Friday. AngloGold Ashanti has a 52-week low of $14.91 and a 52-week high of $30.26. The stock’s 50 day moving average price is $21.08 and its two-hundred day moving average price is $18.99.

AngloGold Ashanti Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.19 dividend. This is a positive change from AngloGold Ashanti’s previous semi-annual dividend of $0.03. This represents a yield of 1.1%. The ex-dividend date was Thursday, March 14th.

Institutional Investors Weigh In On AngloGold Ashanti

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Azzad Asset Management Inc. ADV raised its position in AngloGold Ashanti by 1.7% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 126,277 shares of the mining company’s stock valued at $2,803,000 after buying an additional 2,121 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in AngloGold Ashanti by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 316,931 shares of the mining company’s stock valued at $7,069,000 after purchasing an additional 2,511 shares during the period. Ballentine Partners LLC bought a new position in AngloGold Ashanti in the 1st quarter valued at $257,000. Polianta Ltd bought a new position in AngloGold Ashanti in the 1st quarter valued at $1,234,000. Finally, GAMMA Investing LLC grew its stake in AngloGold Ashanti by 108.9% in the 1st quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock valued at $56,000 after purchasing an additional 1,306 shares during the period. 36.09% of the stock is owned by hedge funds and other institutional investors.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc operates as a gold mining company in Africa, the Americas, and Australia. 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 project located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.