AngloGold Ashanti (NYSE:AU) PT Lowered to $32.00 at JPMorgan Chase & Co.

AngloGold Ashanti (NYSE:AU) had its target price lowered by JPMorgan Chase & Co. from $33.00 to $32.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the mining company’s stock.

A number of other research firms also recently commented on AU. HSBC downgraded shares of AngloGold Ashanti from a hold rating to a reduce rating in a report on Friday, April 19th. Scotiabank raised their price objective on shares of AngloGold Ashanti from $22.00 to $26.00 and gave the stock a sector perform rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $24.50.

AngloGold Ashanti Price Performance

Shares of AngloGold Ashanti stock opened at $26.12 on Wednesday. AngloGold Ashanti has a fifty-two week low of $14.91 and a fifty-two week high of $26.40. The firm has a fifty day moving average price of $24.02 and a two-hundred day moving average price of $21.20. The company has a market cap of $10.93 billion, a PE ratio of 7.71 and a beta of 0.92.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH boosted its stake 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 purchasing an additional 492,358 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of AngloGold Ashanti in the 4th quarter valued at about $16,260,000. Oaktree Capital Management LP boosted its stake 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 purchasing an additional 446,132 shares during the last quarter. Handelsbanken Fonder AB bought a new position in shares of AngloGold Ashanti in the 4th quarter valued at about $1,443,000. Finally, Cibc World Markets Corp bought a new position in shares of AngloGold Ashanti in the 4th quarter valued at about $1,268,000. 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.