Royal Bank Of Canada Boosts AngloGold Ashanti (NYSE:AU) Price Target to $119.00

AngloGold Ashanti (NYSE:AU) had its price objective raised by stock analysts at Royal Bank Of Canada from $111.00 to $119.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the mining company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 17.86% from the stock’s previous close.

Several other analysts also recently weighed in on AU. Roth Capital decreased their target price on AngloGold Ashanti from $121.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings lowered shares of AngloGold Ashanti from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Zacks Research raised shares of AngloGold Ashanti from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. Finally, Freedom Capital upgraded shares of AngloGold Ashanti to a “strong-buy” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.14.

AngloGold Ashanti Trading Up 0.3%

Shares of AngloGold Ashanti stock traded up $0.26 during trading on Wednesday, hitting $100.97. The stock had a trading volume of 711,412 shares, compared to its average volume of 2,933,746. AngloGold Ashanti has a 12 month low of $62.55 and a 12 month high of $129.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.07. The firm’s fifty day simple moving average is $95.35 and its 200-day simple moving average is $95.71. The stock has a market cap of $50.98 billion, a PE ratio of 13.52 and a beta of 0.74.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.05). AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.20 billion. As a group, sell-side analysts expect that AngloGold Ashanti will post 8.27 EPS for the current fiscal year.

Hedge Funds Weigh In On AngloGold Ashanti

Several institutional investors have recently bought and sold shares of AU. Engineers Gate Manager LP boosted its stake in AngloGold Ashanti by 103.0% in the 2nd quarter. Engineers Gate Manager LP now owns 78,521 shares of the mining company’s stock worth $6,352,000 after purchasing an additional 39,832 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of AngloGold Ashanti in the second quarter worth $187,000. RFG Advisory LLC lifted its stake in shares of AngloGold Ashanti by 4.2% during the second quarter. RFG Advisory LLC now owns 13,360 shares of the mining company’s stock worth $1,081,000 after buying an additional 543 shares during the period. NewEdge Advisors LLC lifted its stake in shares of AngloGold Ashanti by 27.9% during the second quarter. NewEdge Advisors LLC now owns 11,504 shares of the mining company’s stock worth $931,000 after buying an additional 2,507 shares during the period. Finally, Carrhae Capital LLP grew its holdings in shares of AngloGold Ashanti by 199.1% during the second quarter. Carrhae Capital LLP now owns 756,610 shares of the mining company’s stock valued at $61,202,000 after buying an additional 503,644 shares during the last quarter. 36.09% of the stock is owned by hedge funds and other institutional investors.

About AngloGold Ashanti

AngloGold Ashanti plc is a global gold mining company that explores for, develops, and operates gold mines. Its primary product is gold, with silver and other minerals produced as byproducts at some operations. The company also manages mineral exploration, mine development, processing, and related reclamation activities.

AngloGold Ashanti operates across several regions, including Africa, Australia, and the Americas. Its portfolio has included mines and projects in Ghana, Guinea, Tanzania, Australia, Brazil, and Argentina, supported by exploration programs in other prospective mining jurisdictions.