AngloGold Ashanti (NYSE:AU) Price Target Raised to $42.00

AngloGold Ashanti (NYSE:AU - Get Free Report) had its price target hoisted by research analysts at Scotiabank from $34.00 to $42.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "sector perform" rating on the mining company's stock. Scotiabank's target price would suggest a potential downside of 2.76% from the stock's current price.

Other research analysts also recently issued reports about the company. StockNews.com raised AngloGold Ashanti from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Royal Bank of Canada lifted their price target on shares of AngloGold Ashanti from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.80.

AngloGold Ashanti Stock Performance

AngloGold Ashanti stock traded down $2.43 during mid-day trading on Monday, reaching $43.19. The company had a trading volume of 5,482,179 shares, compared to its average volume of 2,455,862. The company has a 50 day moving average of $34.65 and a 200-day moving average of $29.40. AngloGold Ashanti has a 52 week low of $21.65 and a 52 week high of $46.90. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The firm has a market cap of $18.13 billion, a price-to-earnings ratio of 13.50 and a beta of 0.81.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.89 EPS for the quarter, missing analysts' consensus estimates 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, sell-side analysts expect that AngloGold Ashanti will post 3.83 EPS for the current fiscal year.

Institutional Investors Weigh In On AngloGold Ashanti

Institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. bought a new stake in AngloGold Ashanti during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of AngloGold Ashanti by 210.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company's stock worth $27,000 after acquiring an additional 796 shares during the period. Hara Capital LLC acquired a new stake in shares of AngloGold Ashanti during the 4th quarter worth approximately $29,000. Global Trust Asset Management LLC acquired a new stake in shares of AngloGold Ashanti during the 1st quarter worth approximately $30,000. Finally, Nomura Asset Management Co. Ltd. acquired a new position in AngloGold Ashanti during the fourth quarter valued at approximately $32,000. 36.09% of the stock is currently owned by 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.