AngloGold Ashanti (NYSE:AU) Price Target Cut to $32.00 by Analysts at JPMorgan Chase & Co.

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

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

AngloGold Ashanti Stock Down 2.8 %

Shares of NYSE:AU opened at $24.93 on Friday. AngloGold Ashanti has a 12-month low of $15.80 and a 12-month high of $32.57. The stock’s 50-day moving average price is $26.71 and its two-hundred day moving average price is $27.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.19.

Hedge Funds Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently made changes to their positions in the business. Chesapeake Capital Corp IL increased its holdings in AngloGold Ashanti by 3.1% in the 2nd quarter. Chesapeake Capital Corp IL now owns 14,100 shares of the mining company’s stock valued at $354,000 after purchasing an additional 429 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of AngloGold Ashanti by 17.3% in the second quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock valued at $74,000 after buying an additional 433 shares in the last quarter. US Bancorp DE raised its holdings in shares of AngloGold Ashanti by 1.0% during the 3rd quarter. US Bancorp DE now owns 47,103 shares of the mining company’s stock valued at $1,254,000 after buying an additional 466 shares during the period. CWM LLC lifted its position in AngloGold Ashanti by 26.1% during the 2nd quarter. CWM LLC now owns 2,383 shares of the mining company’s stock worth $60,000 after acquiring an additional 493 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in AngloGold Ashanti by 1.0% in the 2nd quarter. Sei Investments Co. now owns 64,843 shares of the mining company’s stock worth $1,630,000 after acquiring an additional 656 shares during the period. Institutional investors and hedge funds own 36.09% of the company’s stock.

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.