AngloGold Ashanti (NYSE:AU) Stock Gets Price Target Cut from JPMorgan Chase & Co.

AngloGold Ashanti (NYSE:AU) had its target price lowered by research analysts at JPMorgan Chase & Co. from $139.00 to $138.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 73.13% from the stock’s current price.

Several other research firms also recently issued reports on AU. RBC Dominion Securities set a $110.00 price target on AngloGold Ashanti and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Citigroup lowered their price objective on AngloGold Ashanti from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. The Goldman Sachs Group initiated coverage on AngloGold Ashanti in a research report on Thursday, October 15th. They set a “buy” rating and a $104.00 price objective on the stock. Royal Bank Of Canada lifted their target price on AngloGold Ashanti from $111.00 to $119.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Finally, Freedom Broker boosted their target price on shares of AngloGold Ashanti from $107.00 to $111.50 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $117.83.

AngloGold Ashanti Stock Performance

Shares of NYSE:AU traded down $5.37 during trading on Friday, reaching $79.71. 3,272,010 shares of the stock were exchanged, compared to its average volume of 2,855,196. AngloGold Ashanti has a 12 month low of $63.29 and a 12 month high of $129.14. The firm has a market cap of $40.24 billion, a PE ratio of 10.68 and a beta of 0.73. The stock has a 50-day moving average price of $99.07 and a 200-day moving average price of $96.86. 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 posted its 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). The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.20 billion. AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. Research analysts expect that AngloGold Ashanti will post 8.13 EPS for the current fiscal year.

Institutional Investors Weigh In On AngloGold Ashanti

Several institutional investors have recently made changes to their positions in AU. Ninety One SA Pty Ltd increased its stake in AngloGold Ashanti by 1.8% during the 3rd quarter. Ninety One SA Pty Ltd now owns 11,398,551 shares of the mining company’s stock worth $1,069,147,000 after acquiring an additional 203,418 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in AngloGold Ashanti by 1.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,386,503 shares of the mining company’s stock valued at $620,874,000 after acquiring an additional 98,250 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of AngloGold Ashanti by 8.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,930,737 shares of the mining company’s stock valued at $156,214,000 after acquiring an additional 154,726 shares during the period. ARGA Investment Management LP grew its holdings in shares of AngloGold Ashanti by 27.4% during the 3rd quarter. ARGA Investment Management LP now owns 1,137,018 shares of the mining company’s stock worth $106,823,000 after purchasing an additional 244,212 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of AngloGold Ashanti during the 2nd quarter worth $100,848,000. 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.