Zacks Investment Research lowered shares of AngloGold Ashanti Ltd. (NYSE:AU) from a strong-buy rating to a strong sell rating in a research note issued to investors on Tuesday morning.

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. “

Other equities analysts have also issued reports about the stock. Citigroup Inc. reaffirmed a sell rating on shares of AngloGold Ashanti in a research report on Thursday, August 18th. Deutsche Bank AG lowered shares of AngloGold Ashanti from a buy rating to a hold rating in a research report on Wednesday, July 6th. Finally, Jefferies Group reaffirmed a buy rating on shares of AngloGold Ashanti in a research report on Tuesday, August 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $47.00.

Analyst Recommendations for AngloGold Ashanti (NYSE:AU)

AngloGold Ashanti (NYSE:AU) opened at 13.00 on Tuesday. The stock has a 50 day moving average price of $16.00 and a 200-day moving average price of $16.85. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 48.51 and a beta of -0.93. AngloGold Ashanti has a 12-month low of $6.20 and a 12-month high of $22.91.

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in AngloGold Ashanti by 187.9% in the second quarter. AQR Capital Management LLC now owns 5,238,490 shares of the mining company’s stock valued at $94,607,000 after buying an additional 3,418,895 shares during the last quarter. Acadian Asset Management LLC increased its position in AngloGold Ashanti by 79.8% in the second quarter. Acadian Asset Management LLC now owns 7,692,980 shares of the mining company’s stock worth $138,938,000 after buying an additional 3,415,467 shares in the last quarter. Wellington Management Group LLP increased its position in 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 worth $38,304,000 after buying an additional 1,745,858 shares in the last quarter. Renaissance Technologies LLC increased its position in AngloGold Ashanti by 44.7% in the first quarter. Renaissance Technologies LLC now owns 3,940,100 shares of the mining company’s stock worth $53,940,000 after buying an additional 1,217,400 shares in the last quarter. Finally, Bogle Investment Management L P DE acquired a new position in AngloGold Ashanti during the first quarter worth about $13,688,000. Institutional investors and hedge funds own 39.88% of the company’s stock.

AngloGold Ashanti Company Profile

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.

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