AngloGold Ashanti’s (AU) “Reduce” Rating Reaffirmed at HSBC

AngloGold Ashanti (NYSE:AU)‘s stock had its “reduce” rating reaffirmed by equities researchers at HSBC in a research note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $35.00 target price on the mining company’s stock. HSBC’s price objective suggests a potential downside of 18.97% from the stock’s previous close.

A number of other research analysts also recently issued reports on AU. StockNews.com raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Thursday, April 3rd. Scotiabank lifted their price target on shares of AngloGold Ashanti from $34.00 to $42.00 and gave the stock a “sector perform” rating in a report on Monday, April 14th. Finally, Royal Bank of Canada increased their price objective on AngloGold Ashanti from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

AngloGold Ashanti Stock Performance

Shares of NYSE:AU opened at $43.19 on Thursday. The firm has a 50 day moving average of $34.65 and a 200 day moving average of $29.40. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $18.13 billion, a price-to-earnings ratio of 13.50 and a beta of 0.81. AngloGold Ashanti has a 52 week low of $21.65 and a 52 week high of $46.90.

AngloGold Ashanti (NYSE:AU) last released its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.10). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. On average, sell-side analysts predict that AngloGold Ashanti will post 3.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AngloGold Ashanti

Hedge funds have recently made changes to their positions in the company. Whittier Trust Co. acquired a new stake in AngloGold Ashanti during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC raised its stake in shares of AngloGold Ashanti by 210.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company’s stock worth $27,000 after purchasing an additional 796 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of AngloGold Ashanti during the fourth quarter worth about $29,000. Global Trust Asset Management LLC purchased a new stake in AngloGold Ashanti in the first quarter valued at approximately $30,000. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in AngloGold Ashanti in the fourth quarter valued at approximately $32,000. 36.09% of the stock is owned by institutional investors and hedge funds.

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.