AngloGold Ashanti (NYSE:AU) Downgraded to “Reduce” at HSBC

HSBC lowered shares of AngloGold Ashanti (NYSE:AU) from a hold rating to a reduce rating in a report issued on Friday morning, Marketbeat Ratings reports.

AU has been the subject of a number of other research reports. StockNews.com upgraded AngloGold Ashanti from a sell rating to a hold rating in a report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price objective on AngloGold Ashanti from $23.00 to $31.00 and gave the stock an overweight rating in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, AngloGold Ashanti currently has an average rating of Hold and a consensus target price of $24.25.

AngloGold Ashanti Stock Down 7.6 %

NYSE:AU opened at $22.03 on Friday. The stock’s 50-day simple moving average is $21.17 and its 200 day simple moving average is $19.09. AngloGold Ashanti has a 52-week low of $14.91 and a 52-week high of $30.26.

AngloGold Ashanti Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.19 per share. This represents a yield of 1.1%. This is a positive change from AngloGold Ashanti’s previous semi-annual dividend of $0.03. The ex-dividend date was Thursday, March 14th.

Institutional Investors Weigh In On AngloGold Ashanti

A number of institutional investors have recently modified their holdings of the company. CWM LLC boosted its stake in AngloGold Ashanti by 36.1% during the first quarter. CWM LLC now owns 1,890 shares of the mining company’s stock worth $42,000 after acquiring an additional 501 shares in the last quarter. Hussman Strategic Advisors Inc. boosted its stake in AngloGold Ashanti by 0.4% during the third quarter. Hussman Strategic Advisors Inc. now owns 153,000 shares of the mining company’s stock worth $2,417,000 after acquiring an additional 600 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in AngloGold Ashanti by 6.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 10,784 shares of the mining company’s stock worth $170,000 after acquiring an additional 643 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in AngloGold Ashanti by 32.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company’s stock worth $79,000 after acquiring an additional 1,032 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in AngloGold Ashanti by 108.9% during the first quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock worth $56,000 after acquiring an additional 1,306 shares in the last quarter. 36.09% of the stock is owned by institutional investors.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc operates as a gold mining company in Africa, the Americas, and Australia. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita project located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.