AngloGold Ashanti (AU) Cut to Hold at Zacks Investment Research
Zacks Investment Research cut shares of AngloGold Ashanti (NYSE:AU) from a buy rating to a hold rating in a report issued on Friday 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. “
AU has been the topic of several other reports. ValuEngine cut AngloGold Ashanti from a hold rating to a sell rating in a report on Sunday, December 31st. Deutsche Bank raised AngloGold Ashanti from a hold rating to a buy rating in a report on Thursday, November 30th. Royal Bank of Canada raised AngloGold Ashanti from a sector perform rating to an outperform rating and set a $11.50 target price on the stock in a report on Monday, November 13th. raised AngloGold Ashanti from a hold rating to a buy rating in a report on Tuesday, November 7th. Finally, JPMorgan Chase & Co. raised AngloGold Ashanti from a neutral rating to an overweight rating in a report on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $11.75.
Hedge funds and other institutional investors have recently modified their holdings of the business. Commerzbank Aktiengesellschaft FI increased its stake in AngloGold Ashanti by 26.0% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,187,984 shares of the mining company’s stock worth $11,036,000 after acquiring an additional 244,887 shares during the last quarter. Balyasny Asset Management LLC purchased a new position in shares of AngloGold Ashanti during the second quarter valued at approximately $183,000. Exane Derivatives boosted its position in shares of AngloGold Ashanti by 235.7% during the third quarter. Exane Derivatives now owns 145,754 shares of the mining company’s stock valued at $1,354,000 after buying an additional 102,336 shares during the period. Gabelli Funds LLC boosted its position in shares of AngloGold Ashanti by 23.8% during the third quarter. Gabelli Funds LLC now owns 1,199,200 shares of the mining company’s stock valued at $11,141,000 after buying an additional 230,500 shares during the period. Finally, Oaktree Capital Management LP boosted its position in shares of AngloGold Ashanti by 5.2% during the third quarter. Oaktree Capital Management LP now owns 3,237,041 shares of the mining company’s stock valued at $30,072,000 after buying an additional 159,816 shares during the period. 31.29% of the stock is currently owned by institutional investors.
About AngloGold Ashanti
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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