ValuEngine Downgrades AngloGold Ashanti (AU) to Strong Sell

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ValuEngine cut shares of AngloGold Ashanti (NYSE:AU) from a sell rating to a strong sell rating in a research note published on Friday.

Separately, Zacks Investment Research cut shares of AngloGold Ashanti from a strong-buy rating to a hold rating in a research note on Thursday, May 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. AngloGold Ashanti has a consensus rating of Buy and an average target price of $10.75.

Shares of NYSE:AU opened at $7.35 on Friday. The company has a market capitalization of $3.50 billion, a P/E ratio of 122.50 and a beta of -0.90. The company has a current ratio of 1.57, a quick ratio of 0.63 and a debt-to-equity ratio of 0.82. AngloGold Ashanti has a 1 year low of $7.07 and a 1 year high of $12.00.

Several hedge funds and other institutional investors have recently bought and sold shares of AU. Van ECK Associates Corp grew its stake in shares of AngloGold Ashanti by 151.9% during the second quarter. Van ECK Associates Corp now owns 49,002,114 shares of the mining company’s stock worth $402,307,000 after buying an additional 29,546,178 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of AngloGold Ashanti by 38.5% during the first quarter. BlackRock Inc. now owns 25,975,108 shares of the mining company’s stock worth $246,504,000 after purchasing an additional 7,226,555 shares during the period. Ruffer LLP lifted its holdings in shares of AngloGold Ashanti by 106.1% during the second quarter. Ruffer LLP now owns 6,940,892 shares of the mining company’s stock worth $56,950,000 after purchasing an additional 3,573,797 shares during the period. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of AngloGold Ashanti by 201.4% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,494,746 shares of the mining company’s stock worth $20,482,000 after purchasing an additional 1,666,972 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of AngloGold Ashanti during the first quarter worth $14,009,000. 33.99% of the stock is currently owned by hedge funds and other institutional investors.

AngloGold Ashanti Company Profile

AngloGold Ashanti Limited operates as a gold mining company. The company also produces silver, uranium oxide, and sulphuric acid. Its portfolio includes 17 operations and 3 projects in 10 countries in South Africa, Continental Africa, the Americas, and Australasia. AngloGold Ashanti Limited was founded in 1944 and is headquartered in Johannesburg, South Africa.

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