AngloGold Ashanti PLC (NYSE:AU) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of AngloGold Ashanti PLC (NYSE:AU) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $69.1667.

AU has been the subject of a number of recent analyst reports. Roth Capital set a $76.00 price objective on AngloGold Ashanti and gave the stock a “buy” rating in a research report on Friday, October 3rd. Citigroup initiated coverage on shares of AngloGold Ashanti in a research note on Monday, October 27th. They set a “buy” rating and a $90.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of AngloGold Ashanti from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Zacks Research raised shares of AngloGold Ashanti from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, Scotiabank upgraded shares of AngloGold Ashanti from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $55.00 to $90.00 in a report on Thursday, October 23rd.

AngloGold Ashanti Price Performance

NYSE:AU opened at $69.38 on Tuesday. AngloGold Ashanti has a 52 week low of $22.45 and a 52 week high of $79.94. The stock’s fifty day moving average is $68.05 and its two-hundred day moving average is $54.76. The company has a market capitalization of $29.12 billion, a P/E ratio of 18.45 and a beta of 0.48. The company has a quick ratio of 2.22, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On AngloGold Ashanti

Several institutional investors have recently bought and sold shares of AU. Bank of New York Mellon Corp lifted its position in shares of AngloGold Ashanti by 12.3% during the first quarter. Bank of New York Mellon Corp now owns 673,608 shares of the mining company’s stock worth $25,004,000 after purchasing an additional 73,671 shares in the last quarter. Ninety One UK Ltd increased its stake in AngloGold Ashanti by 19.8% during the 1st quarter. Ninety One UK Ltd now owns 2,337,673 shares of the mining company’s stock worth $86,774,000 after buying an additional 386,078 shares during the period. Greenleaf Trust purchased a new stake in AngloGold Ashanti during the 1st quarter worth approximately $270,000. Alps Advisors Inc. lifted its holdings in AngloGold Ashanti by 139.6% during the 1st quarter. Alps Advisors Inc. now owns 103,365 shares of the mining company’s stock worth $3,837,000 after buying an additional 60,218 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in AngloGold Ashanti in the 1st quarter valued at approximately $312,000. 36.09% of the stock is owned by institutional investors and hedge funds.

AngloGold Ashanti Company Profile

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.