JPMorgan Chase & Co. Has Lowered Expectations for AngloGold Ashanti (NYSE:AU) Stock Price

AngloGold Ashanti (NYSE:AU - Get Free Report) had its price target cut by equities researchers at JPMorgan Chase & Co. from $37.00 to $32.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the mining company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 28.36% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded AngloGold Ashanti from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Royal Bank of Canada upgraded shares of AngloGold Ashanti from a "sector perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a report on Tuesday. Scotiabank upgraded shares of AngloGold Ashanti from a "sector underperform" rating to a "sector perform" rating and set a $30.00 price objective for the company in a research note on Thursday, November 21st. Finally, Investec raised shares of AngloGold Ashanti from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, AngloGold Ashanti currently has a consensus rating of "Hold" and an average target price of $31.75.

AngloGold Ashanti Stock Down 2.8 %

AngloGold Ashanti stock traded down $0.72 during midday trading on Friday, hitting $24.93. 2,464,512 shares of the company's stock were exchanged, compared to its average volume of 4,217,243. AngloGold Ashanti has a 12 month low of $15.80 and a 12 month high of $32.57. The company has a quick ratio of 1.19, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $26.71 and a two-hundred day moving average of $27.05.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of AngloGold Ashanti by 17.3% in the second quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company's stock worth $74,000 after purchasing an additional 433 shares during the last quarter. CWM LLC boosted its holdings in shares of AngloGold Ashanti by 26.1% in the 2nd quarter. CWM LLC now owns 2,383 shares of the mining company's stock valued at $60,000 after acquiring an additional 493 shares during the last quarter. Cigna Investments Inc. New acquired a new stake in shares of AngloGold Ashanti in the second quarter worth $206,000. Blue Trust Inc. raised its holdings in shares of AngloGold Ashanti by 338.3% during the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company's stock worth $87,000 after purchasing an additional 2,679 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in AngloGold Ashanti by 17.1% during the second quarter. Bank of New York Mellon Corp now owns 573,380 shares of the mining company's stock valued at $14,409,000 after purchasing an additional 83,641 shares during the period. Institutional investors and hedge funds own 36.09% of the company's stock.

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.