Zacks Investment Research upgraded shares of AngloGold Ashanti Limited (NYSE:AU) from a sell rating to a hold rating in a research note released on Monday 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. “

Several other equities research analysts have also issued reports on the stock. CIBC lowered shares of AngloGold Ashanti Limited from a sector outperform rating to a sector perform rating in a research note on Monday, May 8th. BidaskClub lowered shares of AngloGold Ashanti Limited from a hold rating to a sell rating in a research note on Thursday, June 15th. Finally, ValuEngine lowered shares of AngloGold Ashanti Limited from a hold rating to a sell rating in a research note on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $13.22.

AngloGold Ashanti Limited (NYSE:AU) opened at 10.78 on Monday. AngloGold Ashanti Limited has a 12 month low of $8.89 and a 12 month high of $17.23. The firm’s 50-day moving average price is $9.68 and its 200-day moving average price is $10.72. The firm’s market cap is $4.41 billion.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank grew its stake in AngloGold Ashanti Limited by 1.3% in the 1st quarter. Comerica Bank now owns 23,405 shares of the mining company’s stock valued at $263,000 after buying an additional 306 shares in the last quarter. World Asset Management Inc boosted its holdings in AngloGold Ashanti Limited by 1.2% in the 1st quarter. World Asset Management Inc now owns 25,360 shares of the mining company’s stock valued at $273,000 after purchasing an additional 308 shares during the period. Capstone Asset Management Co. boosted its holdings in AngloGold Ashanti Limited by 6.6% in the 1st quarter. Capstone Asset Management Co. now owns 25,650 shares of the mining company’s stock valued at $276,000 after purchasing an additional 1,580 shares during the period. Bank of Montreal Can boosted its holdings in AngloGold Ashanti Limited by 4.3% in the 2nd quarter. Bank of Montreal Can now owns 52,654 shares of the mining company’s stock valued at $512,000 after purchasing an additional 2,176 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in AngloGold Ashanti Limited by 22.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 29,292 shares of the mining company’s stock valued at $285,000 after purchasing an additional 5,314 shares during the period. Institutional investors and hedge funds own 32.76% of the company’s stock.

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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Analyst Recommendations for AngloGold Ashanti Limited (NYSE:AU)

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