AngloGold Ashanti (NYSE:AU) Now Covered by Analysts at TD Securities

TD Securities assumed coverage on shares of AngloGold Ashanti (NYSE:AU) in a report issued on Monday morning,Zacks reports. The brokerage issued a strong-buy rating on the mining company’s stock.

AU has been the subject of several other reports. Zacks Research raised shares of AngloGold Ashanti from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th. JPMorgan Chase & Co. dropped their price target on shares of AngloGold Ashanti from $139.00 to $138.00 and set an “overweight” rating on the stock in a research report on Friday. BMO Capital Markets lowered shares of AngloGold Ashanti from an “outperform” rating to a “market perform” rating and set a $115.00 price target on the stock. in a research report on Thursday, September 10th. Scotiabank cut their price target on shares of AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings downgraded shares of AngloGold Ashanti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, October 27th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, AngloGold Ashanti presently has an average rating of “Buy” and a consensus price target of $118.35.

AngloGold Ashanti Stock Up 3.0%

AU stock opened at $82.14 on Monday. The company has a market cap of $41.47 billion, a price-to-earnings ratio of 11.01 and a beta of 0.73. AngloGold Ashanti has a twelve month low of $63.29 and a twelve month high of $129.14. The business has a 50 day moving average price of $98.28 and a two-hundred day moving average price of $96.79. The company has a quick ratio of 2.07, a current ratio of 2.71 and a debt-to-equity ratio of 0.15.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings data on Thursday, July 30th. The mining company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.20 billion. AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%. Analysts anticipate that AngloGold Ashanti will post 8.13 EPS for the current fiscal year.

Hedge Funds Weigh In On AngloGold Ashanti

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ninety One SA Pty Ltd boosted its position in shares of AngloGold Ashanti by 1.8% in the third quarter. Ninety One SA Pty Ltd now owns 11,398,551 shares of the mining company’s stock valued at $1,069,147,000 after acquiring an additional 203,418 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of AngloGold Ashanti by 1.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,386,503 shares of the mining company’s stock valued at $620,874,000 after acquiring an additional 98,250 shares in the last quarter. Wellington Management Group LLP increased its position in AngloGold Ashanti by 8.7% during the second quarter. Wellington Management Group LLP now owns 1,930,737 shares of the mining company’s stock worth $156,214,000 after acquiring an additional 154,726 shares during the period. Bank of New York Mellon Corp bought a new position in AngloGold Ashanti during the second quarter worth about $100,848,000. Finally, ARGA Investment Management LP increased its position in AngloGold Ashanti by 27.4% during the third quarter. ARGA Investment Management LP now owns 1,137,018 shares of the mining company’s stock worth $106,823,000 after acquiring an additional 244,212 shares during the period. 36.09% of the stock is currently owned by institutional investors and hedge funds.

About AngloGold Ashanti

AngloGold Ashanti plc is a global gold mining company engaged in the exploration, development, and operation of gold mines. Its principal product is refined gold, and the company also produces related byproducts at certain operations. In addition to operating mines, AngloGold Ashanti maintains exploration and development projects intended to expand and sustain its production portfolio.

The company has a geographically diversified portfolio spanning Africa, Australia, and the Americas. Its operations and projects have included assets in Ghana, Tanzania, Guinea, Côte d’Ivoire, the Democratic Republic of the Congo, Australia, Brazil, and Argentina.