AngloGold Ashanti (NYSE:AU) Receives “Reduce” Rating from HSBC

AngloGold Ashanti (NYSE:AU)‘s stock had its “reduce” rating reaffirmed by stock analysts at HSBC in a research note issued on Thursday,Benzinga reports. They presently have a $35.00 price objective on the mining company’s stock. HSBC’s target price suggests a potential downside of 23.58% from the stock’s current price.

Other research analysts have also issued research reports about the company. Scotiabank boosted their price target on AngloGold Ashanti from $34.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Monday. StockNews.com upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. Finally, Royal Bank of Canada raised their target price on shares of AngloGold Ashanti from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, AngloGold Ashanti currently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

AngloGold Ashanti Stock Up 4.5 %

AngloGold Ashanti stock opened at $45.80 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. AngloGold Ashanti has a 1-year low of $21.65 and a 1-year high of $46.90. The company has a fifty day simple moving average of $34.26 and a 200 day simple moving average of $29.18. The company has a market cap of $19.22 billion, a P/E ratio of 14.31 and a beta of 0.81.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.10). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Research analysts anticipate that AngloGold Ashanti will post 3.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of AngloGold Ashanti by 546.2% during the third quarter. State Street Corp now owns 211,826 shares of the mining company’s stock worth $5,641,000 after purchasing an additional 179,045 shares during the period. Public Employees Retirement System of Ohio bought a new position in AngloGold Ashanti during the 3rd quarter worth $1,606,000. Geode Capital Management LLC boosted its position in shares of AngloGold Ashanti by 2.7% in the third quarter. Geode Capital Management LLC now owns 327,108 shares of the mining company’s stock valued at $8,711,000 after acquiring an additional 8,676 shares during the period. Tidal Investments LLC grew its stake in shares of AngloGold Ashanti by 80.5% in the third quarter. Tidal Investments LLC now owns 25,452 shares of the mining company’s stock valued at $678,000 after acquiring an additional 11,352 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in AngloGold Ashanti by 378.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,782 shares of the mining company’s stock worth $127,000 after purchasing an additional 3,782 shares in the last quarter. 36.09% of the stock is currently owned by institutional investors and hedge funds.

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.