AngloGold Ashanti (NYSE:AU) Cut to “Reduce” at HSBC

AngloGold Ashanti (NYSE:AU) was downgraded by analysts at HSBC from a “hold” rating to a “reduce” rating in a research report issued to clients and investors on Friday, Briefing.com reports.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised their price target on AngloGold Ashanti from $23.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com raised shares of AngloGold Ashanti from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.25.

AngloGold Ashanti Trading Down 0.6 %

Shares of AU stock opened at $23.71 on Friday. AngloGold Ashanti has a 52-week low of $14.91 and a 52-week high of $30.26. The business’s fifty day moving average is $20.95 and its 200 day moving average is $18.93.

Institutional Trading of AngloGold Ashanti

A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of AngloGold Ashanti by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 25,798,967 shares of the mining company’s stock worth $482,183,000 after acquiring an additional 898,196 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of AngloGold Ashanti by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 16,743,697 shares of the mining company’s stock valued at $312,940,000 after purchasing an additional 1,215,741 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of AngloGold Ashanti by 5.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,002,317 shares of the mining company’s stock valued at $162,724,000 after purchasing an additional 594,702 shares during the last quarter. BlackRock Inc. raised its position in AngloGold Ashanti by 2.3% in the 2nd quarter. BlackRock Inc. now owns 10,174,686 shares of the mining company’s stock worth $214,584,000 after purchasing an additional 226,080 shares during the period. Finally, Barclays PLC bought a new stake in AngloGold Ashanti in the fourth quarter worth $180,693,000. Institutional investors own 36.09% of the company’s stock.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc operates as a gold mining company in Africa, the Americas, and Australia. 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 project located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.