AngloGold Ashanti (NYSE:AU) Price Target Raised to $31.00

AngloGold Ashanti (NYSE:AU) had its price objective increased by JPMorgan Chase & Co. from $23.00 to $31.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the mining company’s stock.

Separately, StockNews.com upgraded shares of AngloGold Ashanti from a sell rating to a hold rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $24.25.

AngloGold Ashanti Stock Performance

Shares of NYSE AU opened at $23.84 on Wednesday. AngloGold Ashanti has a fifty-two week low of $14.91 and a fifty-two week high of $30.26. The firm’s 50-day simple moving average is $21.08 and its 200 day simple moving average is $18.99.

AngloGold Ashanti Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.19 per share. This is a positive change from AngloGold Ashanti’s previous semi-annual dividend of $0.03. This represents a yield of 1.1%. The ex-dividend date of this dividend was Thursday, March 14th.

Hedge Funds Weigh In On AngloGold Ashanti

Institutional investors have recently bought and sold shares of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in AngloGold Ashanti by 89.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,475 shares of the mining company’s stock worth $29,000 after purchasing an additional 695 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in AngloGold Ashanti in the 4th quarter worth about $30,000. CWM LLC increased its stake 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. Newbridge Financial Services Group Inc. purchased a new position in AngloGold Ashanti in the 3rd quarter worth about $40,000. Finally, GAMMA Investing LLC increased its stake 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. Hedge funds and other institutional investors own 36.09% of the company’s stock.

About AngloGold Ashanti

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.