AngloGold Ashanti (NYSE:AU) Given a $110.00 Price Target at RBC Dominion Securities

AngloGold Ashanti (NYSE:AU) received a $110.00 price target from research analysts at RBC Dominion Securities in a research note issued on Thursday, BayStreet reports. The firm currently has an “outperform” rating on the mining company’s stock. RBC Dominion Securities‘s price objective suggests a potential upside of 29.34% from the company’s current price.

AU has been the topic of a number of other research reports. Weiss Ratings raised AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 12th. Roth Capital lowered their target price on shares of AngloGold Ashanti from $121.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Royal Bank Of Canada increased their target price on shares of AngloGold Ashanti from $111.00 to $119.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Freedom Capital upgraded shares of AngloGold Ashanti to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Scotiabank decreased their price target on shares of AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $118.06.

AngloGold Ashanti Stock Down 7.0%

NYSE:AU traded down $6.44 during trading hours on Thursday, hitting $85.05. The stock had a trading volume of 2,327,902 shares, compared to its average volume of 2,865,878. The business has a 50 day simple moving average of $101.67 and a two-hundred day simple moving average of $94.61. The company has a market cap of $42.94 billion, a PE ratio of 11.40 and a beta of 0.73. AngloGold Ashanti has a 1-year low of $62.55 and a 1-year high of $129.14. The company has a current ratio of 2.71, a quick ratio of 2.07 and a debt-to-equity ratio of 0.15.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.20 billion. AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%. Analysts predict that AngloGold Ashanti will post 8.18 EPS for the current year.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds have recently added to or reduced their stakes in the stock. Ascentis Independent Advisors acquired a new position in shares of AngloGold Ashanti during the first quarter valued at $26,000. Ancora Advisors LLC acquired a new stake in shares of AngloGold Ashanti in the 2nd quarter worth about $30,000. Alpine Bank Wealth Management acquired a new stake in shares of AngloGold Ashanti in the 3rd quarter worth about $31,000. Ameritas Advisory Services LLC bought a new stake in AngloGold Ashanti in the 2nd quarter valued at about $51,000. Finally, KBC Group NV bought a new stake in AngloGold Ashanti in the 1st quarter valued at about $55,000. 36.09% of the stock is currently owned by institutional investors.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc is a global gold mining company engaged in the exploration, development, and operation of gold mines. Its principal product is refined gold, and the company also produces related byproducts at certain operations. In addition to operating mines, AngloGold Ashanti maintains exploration and development projects intended to expand and sustain its production portfolio.

The company has a geographically diversified portfolio spanning Africa, Australia, and the Americas. Its operations and projects have included assets in Ghana, Tanzania, Guinea, Côte d’Ivoire, the Democratic Republic of the Congo, Australia, Brazil, and Argentina.