Zacks Investment Research lowered shares of AngloGold Ashanti (NYSE:AU) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Headquartered in Johannesburg, South Africa, AngloGold Ashanti Limited is an independent, global gold mining company with mines and exploration projects across Continental Africa, South Africa, Americas and Australasia. It is the third-biggest gold mining company globally in terms of production. The company has a portfolio of long-life, relatively low-cost assets and differing orebody types located across major gold producing regions around the world. The company’s 14 operations are located across nine countries and its operating assets are supported by extensive exploration activities. “

A number of other research analysts also recently commented on AU. ValuEngine downgraded shares of AngloGold Ashanti from a buy rating to a hold rating in a research report on Thursday, August 1st. Royal Bank of Canada raised shares of AngloGold Ashanti from a sector perform rating to an outperform rating and set a $17.05 target price on the stock in a research report on Wednesday, June 26th. Finally, BMO Capital Markets raised shares of AngloGold Ashanti from a market perform rating to an outperform rating and raised their target price for the company from $16.00 to $21.00 in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $18.01.

NYSE AU traded up $0.29 during trading on Wednesday, reaching $20.43. 228,989 shares of the company’s stock traded hands, compared to its average volume of 3,483,556. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.73 and a current ratio of 1.55. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 38.30, a price-to-earnings-growth ratio of 0.55 and a beta of -0.79. The company has a 50 day simple moving average of $18.71. AngloGold Ashanti has a 12-month low of $7.07 and a 12-month high of $21.74.

Large investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its stake in AngloGold Ashanti by 3.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 542,698 shares of the mining company’s stock worth $9,665,000 after purchasing an additional 16,014 shares during the last quarter. AQR Capital Management LLC boosted its stake in AngloGold Ashanti by 351.6% during the 2nd quarter. AQR Capital Management LLC now owns 4,096,410 shares of the mining company’s stock worth $72,957,000 after purchasing an additional 3,189,262 shares during the last quarter. Man Group plc boosted its stake in AngloGold Ashanti by 84.6% during the 2nd quarter. Man Group plc now owns 404,084 shares of the mining company’s stock worth $7,197,000 after purchasing an additional 185,207 shares during the last quarter. Mackenzie Financial Corp boosted its stake in AngloGold Ashanti by 6.8% during the 2nd quarter. Mackenzie Financial Corp now owns 2,333,613 shares of the mining company’s stock worth $41,562,000 after purchasing an additional 148,100 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of AngloGold Ashanti by 2,871.8% during the 2nd quarter. Invesco Ltd. now owns 1,363,033 shares of the mining company’s stock valued at $24,275,000 after acquiring an additional 1,317,167 shares during the last quarter. Institutional investors and hedge funds own 38.14% of the company’s stock.

About AngloGold Ashanti

AngloGold Ashanti Limited operates as a gold mining company. It also produces silver, uranium, and sulphuric acid; and dóre bars. The company operates 14 mines and 3 projects in 10 countries in South Africa, Continental Africa, the Americas, and Australasia. AngloGold Ashanti Limited was incorporated in 1944 and is headquartered in Johannesburg, South Africa.

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