Scotiabank Forecasts Strong Price Appreciation for AngloGold Ashanti (NYSE:AU) Stock

AngloGold Ashanti (NYSE:AU - Get Free Report) had its target price upped by Scotiabank from $30.00 to $34.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the mining company's stock. Scotiabank's price target would indicate a potential upside of 15.45% from the company's current price.

Several other equities research analysts also recently weighed in on AU. Royal Bank of Canada restated an "outperform" rating and set a $36.00 price target on shares of AngloGold Ashanti in a report on Thursday, February 20th. StockNews.com downgraded AngloGold Ashanti from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price target on AngloGold Ashanti from $37.00 to $32.00 and set an "overweight" rating on the stock in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $34.00.

AngloGold Ashanti Trading Up 0.4 %

Shares of AU stock traded up $0.12 on Tuesday, hitting $29.45. The stock had a trading volume of 3,074,908 shares, compared to its average volume of 2,461,816. 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 has a 1 year low of $18.37 and a 1 year high of $33.77. The company's 50 day moving average price is $28.22 and its 200-day moving average price is $27.74.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.75 billion. On average, research analysts anticipate that AngloGold Ashanti will post 3.83 earnings per share for the current year.

Hedge Funds Weigh In On AngloGold Ashanti

A number of large investors have recently bought and sold shares of AU. Whittier Trust Co. purchased a new position in AngloGold Ashanti during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 796 shares during the period. Nomura Asset Management Co. Ltd. acquired a new position in shares of AngloGold Ashanti during the 4th quarter worth $32,000. R Squared Ltd acquired a new position in shares of AngloGold Ashanti during the 4th quarter worth $36,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of AngloGold Ashanti during the 4th quarter worth $69,000. Hedge funds and other institutional investors 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.