AngloGold Ashanti (NYSE:AU) Price Target Raised to $26.00

AngloGold Ashanti (NYSE:AU) had its price objective lifted by Scotiabank from $22.00 to $26.00 in a report released on Thursday morning, Benzinga reports. They currently have a sector perform rating on the mining company’s stock.

Several other analysts have also issued reports on AU. StockNews.com upgraded AngloGold Ashanti from a sell rating to a hold rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. boosted their price objective on AngloGold Ashanti from $23.00 to $31.00 and gave the company an overweight rating in a research note on Wednesday, April 17th. Finally, HSBC downgraded shares of AngloGold Ashanti from a hold rating to a reduce rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $24.25.

AngloGold Ashanti Stock Performance

Shares of AU stock opened at $24.30 on Thursday. The company has a 50 day moving average of $23.26 and a 200-day moving average of $20.00. AngloGold Ashanti has a 12-month low of $14.91 and a 12-month high of $26.01.

Institutional Investors Weigh In On AngloGold Ashanti

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC raised its position in shares of AngloGold Ashanti by 36.1% in the first quarter. CWM LLC now owns 1,890 shares of the mining company’s stock worth $42,000 after buying an additional 501 shares in the last quarter. Hussman Strategic Advisors Inc. raised its holdings in shares of AngloGold Ashanti by 0.4% in the 3rd quarter. Hussman Strategic Advisors Inc. now owns 153,000 shares of the mining company’s stock valued at $2,417,000 after acquiring an additional 600 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of AngloGold Ashanti by 6.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 10,784 shares of the mining company’s stock valued at $170,000 after acquiring an additional 643 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of AngloGold Ashanti by 32.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company’s stock valued at $79,000 after acquiring an additional 1,032 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 1,306 shares in the last quarter. 36.09% of the stock is owned by hedge funds and other institutional investors.

About AngloGold Ashanti

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. 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 mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.