AngloGold Ashanti Limited (AU) Rating Increased to Hold at Zacks Investment Research
AngloGold Ashanti Limited (NYSE:AU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
AU has been the topic of a number of other reports. Bank of America Corp raised shares of AngloGold Ashanti Limited from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 5th. JPMorgan Chase & Co. downgraded shares of AngloGold Ashanti Limited from an “overweight” rating to a “neutral” rating in a research note on Friday, March 3rd. Finally, Citigroup Inc downgraded shares of AngloGold Ashanti Limited from a “neutral” rating to a “sell” rating in a research note on Wednesday, February 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. AngloGold Ashanti Limited currently has a consensus rating of “Hold” and an average target price of $14.00.
Shares of AngloGold Ashanti Limited (NYSE:AU) traded down 0.64% during mid-day trading on Friday, reaching $12.43. 4,818,410 shares of the company’s stock traded hands. The company has a market cap of $5.08 billion, a P/E ratio of 82.87 and a beta of -1.31. AngloGold Ashanti Limited has a 12-month low of $9.28 and a 12-month high of $22.91. The company’s 50 day moving average is $11.27 and its 200 day moving average is $11.94.
The business also recently declared a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Friday, March 24th were paid a $0.0992 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Wednesday, March 22nd.
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In related news, insider Lotan Holdings Inc. purchased 35,000 shares of AngloGold Ashanti Limited stock in a transaction dated Wednesday, February 1st. The shares were acquired at an average cost of $1.08 per share, with a total value of $37,800.00. Also, Director Matti Talikka sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $1.63, for a total transaction of $163,000.00.
Large investors have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA boosted its position in shares of AngloGold Ashanti Limited by 178.8% in the third quarter. Compagnie Lombard Odier SCmA now owns 7,250 shares of the mining company’s stock worth $115,000 after buying an additional 4,650 shares during the period. Ellington Management Group LLC acquired a new position in shares of AngloGold Ashanti Limited during the fourth quarter worth $170,000. Rathbone Brothers plc boosted its position in shares of AngloGold Ashanti Limited by 29.1% in the first quarter. Rathbone Brothers plc now owns 25,508 shares of the mining company’s stock worth $275,000 after buying an additional 5,750 shares during the period. Capstone Asset Management Co. boosted its position in shares of AngloGold Ashanti Limited by 6.6% in the first quarter. Capstone Asset Management Co. now owns 25,650 shares of the mining company’s stock worth $276,000 after buying an additional 1,580 shares during the period. Finally, Comerica Bank boosted its position in shares of AngloGold Ashanti Limited by 13.3% in the fourth quarter. Comerica Bank now owns 23,099 shares of the mining company’s stock worth $278,000 after buying an additional 2,710 shares during the period. 36.39% of the stock is currently owned by institutional investors and hedge funds.
AngloGold Ashanti Limited 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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