AngloGold Ashanti (NYSE:AU) Stock Rating Upgraded by Scotiabank

AngloGold Ashanti (NYSE:AU - Get Free Report) was upgraded by investment analysts at Scotiabank from a "sector underperform" rating to a "sector perform" rating in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $30.00 price objective on the mining company's stock. Scotiabank's target price would suggest a potential upside of 19.05% from the company's current price.

Other research analysts have also recently issued reports about the company. BMO Capital Markets lifted their target price on AngloGold Ashanti from $28.00 to $34.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. StockNews.com cut shares of AngloGold Ashanti from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Finally, Investec raised shares of AngloGold Ashanti from a "hold" rating to a "buy" rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $33.67.

AngloGold Ashanti Stock Up 2.7 %

NYSE:AU traded up $0.66 during mid-day trading on Thursday, hitting $25.20. 6,506,515 shares of the company's stock traded hands, compared to its average volume of 2,067,631. The company has a fifty day moving average of $27.41 and a 200 day moving average of $26.99. The company has a current ratio of 1.83, a quick ratio of 1.19 and a debt-to-equity ratio of 0.48. AngloGold Ashanti has a twelve month low of $15.80 and a twelve month high of $32.57.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. CWM LLC lifted its position in shares of AngloGold Ashanti by 26.1% during the 2nd quarter. CWM LLC now owns 2,383 shares of the mining company's stock valued at $60,000 after buying an additional 493 shares in the last quarter. GAMMA Investing LLC raised its position in AngloGold Ashanti by 17.3% during the second quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company's stock worth $74,000 after acquiring an additional 433 shares during the period. Blue Trust Inc. lifted its holdings in AngloGold Ashanti by 338.3% during the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company's stock valued at $87,000 after purchasing an additional 2,679 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of AngloGold Ashanti in the third quarter valued at about $126,000. Finally, Toronto Dominion Bank acquired a new stake in shares of AngloGold Ashanti in the first quarter valued at about $118,000. Institutional investors and hedge funds own 36.09% of the company's stock.

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.