According to Zacks, “AngloGold Limited is the largest gold producer at 7 million ounces a year, with reserves of 126 m oz. The company has operations in six countries on three continents, some of which are joint ventures, as well as exploration activities in ten countries. AngloGold can be financially characterized by high cash generation, substantial reinvestment in long-term growth and the payment of significant dividends. The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market, particularly in Asia. “
AU has been the topic of a number of other reports. Jefferies Group reissued a buy rating on shares of AngloGold Ashanti in a research report on Tuesday, August 23rd. Deutsche Bank AG cut shares of AngloGold Ashanti from a buy rating to a hold rating in a research report on Wednesday, July 6th. Finally, Citigroup Inc. reissued a sell rating on shares of AngloGold Ashanti in a research report on Thursday, August 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $47.00.
AngloGold Ashanti (NYSE:AU) opened at 13.00 on Tuesday. AngloGold Ashanti has a 52-week low of $6.20 and a 52-week high of $22.91. The company’s 50-day moving average is $16.00 and its 200-day moving average is $16.85. The firm has a market capitalization of $5.30 billion, a P/E ratio of 48.51 and a beta of -0.93.
Several hedge funds have recently modified their holdings of the company. Bailard Inc. raised its stake in shares of AngloGold Ashanti by 9.2% in the second quarter. Bailard Inc. now owns 13,106 shares of the mining company’s stock worth $237,000 after buying an additional 1,106 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of AngloGold Ashanti by 8.1% in the second quarter. BNP Paribas Arbitrage SA now owns 23,066 shares of the mining company’s stock worth $417,000 after buying an additional 1,733 shares during the period. Bank of New York Mellon Corp raised its stake in shares of AngloGold Ashanti by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 284,939 shares of the mining company’s stock worth $5,146,000 after buying an additional 1,869 shares during the period. World Asset Management Inc raised its stake in shares of AngloGold Ashanti by 8.5% in the second quarter. World Asset Management Inc now owns 25,238 shares of the mining company’s stock worth $456,000 after buying an additional 1,985 shares during the period. Finally, Seven Eight Capital LLC raised its stake in shares of AngloGold Ashanti by 40.7% in the first quarter. Seven Eight Capital LLC now owns 7,600 shares of the mining company’s stock worth $104,000 after buying an additional 2,200 shares during the period. Institutional investors and hedge funds own 39.88% of the company’s stock.
AngloGold Ashanti Company Profile
AngloGold Ashanti Limited (AngloGold Ashanti) is a gold mining company. The Company’s business activities span the spectrum of the mining value chain. Its main product is gold. Its portfolio includes over 17 mines in approximately nine countries. It also produces silver, uranium and sulfuric acid as by-products.
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