AngloGold Ashanti (NYSE:AU) Receives Reduce Rating from HSBC

AngloGold Ashanti (NYSE:AU - Get Free Report)'s stock had its "reduce" rating reaffirmed by HSBC in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $35.00 price objective on the mining company's stock. HSBC's price target suggests a potential downside of 18.97% from the company's current price.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada lifted their target price on shares of AngloGold Ashanti from $39.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Scotiabank lifted their price objective on shares of AngloGold Ashanti from $34.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. Finally, StockNews.com upgraded AngloGold Ashanti from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.80.

AngloGold Ashanti Price Performance

Shares of AU traded down $2.43 during midday trading on Thursday, reaching $43.19. The stock had a trading volume of 5,482,179 shares, compared to its average volume of 2,453,578. The firm's 50 day moving average price is $34.65 and its 200-day moving average price is $29.42. AngloGold Ashanti has a 52 week low of $21.65 and a 52 week high of $46.90. The company has a market capitalization of $18.13 billion, a P/E ratio of 13.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.14.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.10). The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. On average, analysts forecast that AngloGold Ashanti will post 3.83 earnings per share for the current fiscal year.

Institutional Trading of AngloGold Ashanti

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of AngloGold Ashanti by 378.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,782 shares of the mining company's stock worth $127,000 after purchasing an additional 3,782 shares in the last quarter. Raymond James Financial Inc. bought a new position in AngloGold Ashanti during the fourth quarter valued at approximately $406,000. Van ECK Associates Corp lifted its stake in AngloGold Ashanti by 10.9% in the fourth quarter. Van ECK Associates Corp now owns 25,411,814 shares of the mining company's stock valued at $586,504,000 after acquiring an additional 2,491,130 shares during the last quarter. Ninety One UK Ltd bought a new stake in AngloGold Ashanti in the fourth quarter worth approximately $45,043,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of AngloGold Ashanti by 47.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 381,627 shares of the mining company's stock worth $8,808,000 after purchasing an additional 122,507 shares during the last quarter. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

AngloGold Ashanti Company Profile

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.