JPMorgan Chase & Co. Boosts AngloGold Ashanti (NYSE:AU) Price Target to $37.00

AngloGold Ashanti (NYSE:AU) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $32.00 to $37.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 36.13% from the stock’s previous close.

AU has been the topic of several other reports. BMO Capital Markets raised their target price on AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Scotiabank reissued a “sector underperform” rating and set a $30.00 price objective (up previously from $27.00) on shares of AngloGold Ashanti in a report on Monday, August 19th. Finally, StockNews.com upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, AngloGold Ashanti has a consensus rating of “Hold” and a consensus target price of $33.67.

AngloGold Ashanti Trading Up 1.6 %

Shares of AU opened at $27.18 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.83 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average price is $28.72 and its 200 day moving average price is $26.08. AngloGold Ashanti has a twelve month low of $15.60 and a twelve month high of $32.57.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings results on Tuesday, August 6th. The mining company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.51 by $0.09. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the company earned $0.17 EPS. As a group, equities research analysts forecast that AngloGold Ashanti will post 2.58 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new stake in shares of AngloGold Ashanti in the third quarter worth $629,000. Ritholtz Wealth Management bought a new stake in AngloGold Ashanti in the 3rd quarter valued at $222,000. Atomi Financial Group Inc. grew its position in AngloGold Ashanti by 87.0% in the 3rd quarter. Atomi Financial Group Inc. now owns 16,907 shares of the mining company’s stock worth $450,000 after purchasing an additional 7,864 shares during the last quarter. Handelsbanken Fonder AB grew its position in AngloGold Ashanti by 30.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 119,500 shares of the mining company’s stock worth $3,182,000 after purchasing an additional 28,000 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of AngloGold Ashanti during the 3rd quarter worth about $126,000. 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.