JPMorgan Chase & Co. Lowers AngloGold Ashanti (NYSE:AU) Price Target to $32.00

AngloGold Ashanti (NYSE:AU) had its price objective lowered by analysts at JPMorgan Chase & Co. from $37.00 to $32.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 28.36% from the stock’s previous close.

A number of other research analysts have also recently issued reports on AU. Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Royal Bank of Canada raised AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Tuesday, December 3rd. Scotiabank raised AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price objective for the company in a report on Thursday, November 21st. Finally, StockNews.com lowered AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.75.

AngloGold Ashanti Stock Down 2.8 %

Shares of NYSE AU opened at $24.93 on Friday. The company’s fifty day moving average is $26.71 and its two-hundred day moving average is $27.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.19 and a current ratio of 1.73. AngloGold Ashanti has a one year low of $15.80 and a one year high of $32.57.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its stake in shares of AngloGold Ashanti by 26.1% during the second quarter. CWM LLC now owns 2,383 shares of the mining company’s stock valued at $60,000 after acquiring an additional 493 shares during the last quarter. GAMMA Investing LLC lifted its holdings in AngloGold Ashanti by 17.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock valued at $74,000 after purchasing an additional 433 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of AngloGold Ashanti by 338.3% during the 2nd quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock worth $87,000 after purchasing an additional 2,679 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of AngloGold Ashanti during the third quarter worth about $126,000. Finally, Cigna Investments Inc. New acquired a new position in shares of AngloGold Ashanti in the second quarter valued at approximately $206,000. 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.