AngloGold Ashanti (NYSE:AU) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of AngloGold Ashanti (NYSE:AU) from a buy rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Headquartered in Johannesburg, South Africa, AngloGold Ashanti Limited is an independent, global gold mining company with mines and exploration projects across Continental Africa, South Africa, Americas and Australasia. It is the third-biggest gold mining company globally in terms of production. The company has a portfolio of long-life, relatively low-cost assets and differing orebody types located across major gold producing regions around the world. The company’s 14 operations are located across nine countries and its operating assets are supported by extensive exploration activities. “

Several other brokerages have also recently weighed in on AU. ValuEngine cut AngloGold Ashanti from a sell rating to a strong sell rating in a research report on Wednesday, October 2nd. BMO Capital Markets upgraded AngloGold Ashanti from a market perform rating to an outperform rating and lifted their price target for the company from $16.00 to $21.00 in a research report on Thursday, June 27th. Royal Bank of Canada upgraded AngloGold Ashanti from a sector perform rating to an outperform rating and set a $17.05 price target for the company in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. reduced their price target on AngloGold Ashanti from $26.60 to $26.10 and set an overweight rating for the company in a research report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $20.23.

AngloGold Ashanti stock opened at $20.84 on Wednesday. The stock has a 50-day moving average price of $20.39 and a 200 day moving average price of $16.97. The company has a quick ratio of 0.43, a current ratio of 0.90 and a debt-to-equity ratio of 0.53. AngloGold Ashanti has a 52 week low of $9.17 and a 52 week high of $23.85.

Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in AngloGold Ashanti by 458.8% during the second quarter. Parallel Advisors LLC now owns 2,157 shares of the mining company’s stock valued at $38,000 after acquiring an additional 1,771 shares in the last quarter. Lindbrook Capital LLC raised its position in AngloGold Ashanti by 50.9% during the second quarter. Lindbrook Capital LLC now owns 2,585 shares of the mining company’s stock valued at $46,000 after acquiring an additional 872 shares in the last quarter. Exane Derivatives purchased a new position in AngloGold Ashanti during the second quarter valued at approximately $66,000. US Bancorp DE raised its position in AngloGold Ashanti by 23.9% during the second quarter. US Bancorp DE now owns 4,781 shares of the mining company’s stock valued at $85,000 after acquiring an additional 923 shares in the last quarter. Finally, Advisory Services Network LLC raised its position in AngloGold Ashanti by 1,351.3% during the first quarter. Advisory Services Network LLC now owns 10,377 shares of the mining company’s stock valued at $136,000 after acquiring an additional 9,662 shares in the last quarter. Institutional investors own 36.63% of the company’s stock.

AngloGold Ashanti Company Profile

AngloGold Ashanti Limited operates as a gold mining company. It also produces silver, uranium, and sulphuric acid; and dóre bars. The company operates 14 mines and 3 projects in 10 countries in South Africa, Continental Africa, the Americas, and Australasia. AngloGold Ashanti Limited was incorporated in 1944 and is headquartered in Johannesburg, South Africa.

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