AngloGold Ashanti plc (NYSE:AU) Given Consensus Recommendation of “Hold” by Analysts

AngloGold Ashanti plc (NYSE:AU) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $24.75.

Several research firms recently issued reports on AU. HSBC lowered AngloGold Ashanti from a “hold” rating to a “reduce” rating in a research note on Friday, April 19th. Scotiabank increased their target price on AngloGold Ashanti from $22.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upped their price target on AngloGold Ashanti from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Finally, StockNews.com upgraded AngloGold Ashanti from a “sell” rating to a “hold” rating in a report on Friday, February 23rd.

AngloGold Ashanti Price Performance

AU opened at $23.95 on Friday. The stock’s 50-day moving average price is $23.72 and its 200 day moving average price is $20.78. AngloGold Ashanti has a 12-month low of $14.91 and a 12-month high of $26.01.

Institutional Investors Weigh In On AngloGold Ashanti

Several large investors have recently bought and sold shares of AU. Allianz Asset Management GmbH increased its holdings in shares of AngloGold Ashanti by 52.8% in the 4th quarter. Allianz Asset Management GmbH now owns 1,424,939 shares of the mining company’s stock valued at $26,632,000 after acquiring an additional 492,358 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of AngloGold Ashanti in the 4th quarter valued at about $16,260,000. Oaktree Capital Management LP increased its holdings in shares of AngloGold Ashanti by 8.2% in the 4th quarter. Oaktree Capital Management LP now owns 5,874,951 shares of the mining company’s stock valued at $109,803,000 after acquiring an additional 446,132 shares during the last quarter. Handelsbanken Fonder AB purchased a new position in shares of AngloGold Ashanti in the 4th quarter valued at about $1,443,000. Finally, Cibc World Markets Corp purchased a new position in AngloGold Ashanti during the 4th quarter worth approximately $1,268,000. Hedge funds and other institutional investors 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.