AngloGold Ashanti (NYSE:AU) Raised to "Buy" at Investec

AngloGold Ashanti (NYSE:AU - Get Free Report) was upgraded by equities researchers at Investec from a "hold" rating to a "buy" rating in a report issued on Friday, Marketbeat.com reports.

Several other analysts have also weighed in on AU. BMO Capital Markets increased their price target on AngloGold Ashanti from $28.00 to $34.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on AngloGold Ashanti from $32.00 to $37.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. StockNews.com upgraded AngloGold Ashanti from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. Finally, Scotiabank reiterated a "sector underperform" rating and set a $30.00 target price (up from $27.00) on shares of AngloGold Ashanti in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $33.67.

AngloGold Ashanti Trading Up 2.7 %

Shares of NYSE AU traded up $0.81 during midday trading on Friday, reaching $30.33. 2,999,978 shares of the stock traded hands, compared to its average volume of 1,986,500. The company has a quick ratio of 1.19, a current ratio of 1.83 and a debt-to-equity ratio of 0.48. AngloGold Ashanti has a one year low of $15.60 and a one year high of $32.57. The company's 50 day moving average is $28.73 and its 200 day moving average is $26.29.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The mining company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.09. The company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the previous year, the company posted $0.17 EPS. On average, research analysts anticipate that AngloGold Ashanti will post 2.58 EPS for the current year.

Institutional Trading of AngloGold Ashanti

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC grew its stake in AngloGold Ashanti by 36.1% in the first quarter. CWM LLC now owns 1,890 shares of the mining company's stock valued at $42,000 after purchasing an additional 501 shares during the last quarter. GAMMA Investing LLC grew its stake in AngloGold Ashanti by 108.9% in the first quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company's stock valued at $56,000 after purchasing an additional 1,306 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in AngloGold Ashanti by 32.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company's stock valued at $79,000 after purchasing an additional 1,032 shares during the last quarter. Blue Trust Inc. grew its stake in AngloGold Ashanti by 338.3% in 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 during the last quarter. Finally, Toronto Dominion Bank purchased a new position in AngloGold Ashanti in the first quarter valued at about $118,000. 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.