AngloGold Ashanti (NYSE:AU) Stock Rating Upgraded by Royal Bank of Canada

Royal Bank of Canada upgraded shares of AngloGold Ashanti (NYSE:AU) from a sector perform rating to an outperform rating in a research report released on Tuesday, MarketBeat Ratings reports. They currently have $31.00 price target on the mining company’s stock.

Several other brokerages have also recently commented on AU. Investec upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. BMO Capital Markets increased their price objective on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Scotiabank upgraded AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price target for the company in a report on Thursday, November 21st. Finally, StockNews.com downgraded AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, AngloGold Ashanti currently has an average rating of “Hold” and a consensus target price of $33.00.

AngloGold Ashanti Price Performance

Shares of AU opened at $25.69 on Tuesday. The stock’s 50-day moving average price is $26.89 and its two-hundred day moving average price is $27.06. AngloGold Ashanti has a 12 month low of $15.80 and a 12 month high of $32.57. The company has a quick ratio of 1.19, a current ratio of 1.73 and a debt-to-equity ratio of 0.46.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp grew its position in AngloGold Ashanti by 0.4% during the third quarter. Van ECK Associates Corp now owns 22,920,684 shares of the mining company’s stock valued at $610,378,000 after buying an additional 80,563 shares during the period. FMR LLC increased its holdings in AngloGold Ashanti by 39.5% in the 3rd quarter. FMR LLC now owns 10,448,445 shares of the mining company’s stock worth $277,968,000 after acquiring an additional 2,957,304 shares during the last quarter. TT International Asset Management LTD raised its position in shares of AngloGold Ashanti by 51.3% in the third quarter. TT International Asset Management LTD now owns 2,836,110 shares of the mining company’s stock valued at $75,525,000 after purchasing an additional 962,141 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in AngloGold Ashanti by 159.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,251,492 shares of the mining company’s stock valued at $33,327,000 after buying an additional 768,363 shares in the last quarter. Finally, Barings LLC raised its holdings in AngloGold Ashanti by 395.0% during the 2nd quarter. Barings LLC now owns 1,101,183 shares of the mining company’s stock valued at $27,818,000 after acquiring an additional 878,717 shares during the period. 36.09% of the stock is owned by institutional investors.

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.