AngloGold Ashanti (NYSE:AU) Price Target Cut to $32.00

AngloGold Ashanti (NYSE:AU) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $33.00 to $32.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 22.75% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. Scotiabank lifted their price target on AngloGold Ashanti from $22.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. HSBC cut AngloGold Ashanti from a “hold” rating to a “reduce” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, AngloGold Ashanti currently has a consensus rating of “Hold” and a consensus target price of $24.50.

AngloGold Ashanti Stock Up 2.2 %

AU opened at $26.07 on Wednesday. AngloGold Ashanti has a 12-month low of $14.91 and a 12-month high of $26.40. The business has a 50 day moving average of $24.09 and a 200-day moving average of $21.23.

Hedge Funds Weigh In On AngloGold Ashanti

A number of institutional investors have recently modified their holdings of the business. CWM LLC increased its holdings in AngloGold Ashanti by 36.1% in the 1st quarter. CWM LLC now owns 1,890 shares of the mining company’s stock worth $42,000 after purchasing an additional 501 shares in the last quarter. GAMMA Investing LLC increased its holdings in AngloGold Ashanti by 108.9% in the 1st quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock worth $56,000 after purchasing an additional 1,306 shares in the last quarter. Blue Trust Inc. increased its holdings in AngloGold Ashanti by 132.0% in the 4th quarter. Blue Trust Inc. now owns 4,023 shares of the mining company’s stock worth $75,000 after purchasing an additional 2,289 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of AngloGold Ashanti by 32.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company’s stock valued at $79,000 after buying an additional 1,032 shares during the period. Finally, Toronto Dominion Bank acquired a new stake in shares of AngloGold Ashanti in the first quarter valued at about $118,000. Institutional investors and hedge funds 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.