AngloGold Ashanti (AU) Downgraded by Zacks Investment Research

AngloGold Ashanti (NYSE:AU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

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. “

Several other equities analysts also recently commented on AU. ValuEngine downgraded shares of AngloGold Ashanti from a “sell” rating to a “strong sell” rating in a research note on Friday, August 17th. Royal Bank of Canada downgraded shares of AngloGold Ashanti from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, September 18th. Finally, Citigroup downgraded shares of AngloGold Ashanti from a “neutral” rating to a “sell” rating in a research note on Tuesday, November 6th.

NYSE:AU traded up $0.27 on Monday, hitting $10.19. The company had a trading volume of 1,732,053 shares, compared to its average volume of 3,415,197. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 169.83 and a beta of -1.08. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 0.79. AngloGold Ashanti has a 52 week low of $7.07 and a 52 week high of $12.00.

Several hedge funds have recently added to or reduced their stakes in the company. Schroder Investment Management Group raised its stake in AngloGold Ashanti by 12.3% during the second quarter. Schroder Investment Management Group now owns 576,659 shares of the mining company’s stock worth $4,533,000 after buying an additional 62,941 shares during the last quarter. LGT Capital Partners LTD. raised its stake in AngloGold Ashanti by 29.2% during the third quarter. LGT Capital Partners LTD. now owns 1,936,100 shares of the mining company’s stock worth $16,612,000 after buying an additional 437,500 shares during the last quarter. Commonwealth Bank of Australia raised its stake in AngloGold Ashanti by 20.5% during the second quarter. Commonwealth Bank of Australia now owns 142,139 shares of the mining company’s stock worth $1,163,000 after buying an additional 24,200 shares during the last quarter. Bridgewater Associates LP grew its holdings in AngloGold Ashanti by 10.3% in the second quarter. Bridgewater Associates LP now owns 78,223 shares of the mining company’s stock worth $642,000 after purchasing an additional 7,327 shares during the period. Finally, Northern Trust Corp grew its holdings in AngloGold Ashanti by 6.1% in the second quarter. Northern Trust Corp now owns 448,226 shares of the mining company’s stock worth $3,680,000 after purchasing an additional 25,915 shares during the period. 39.82% of the stock is owned by hedge funds and other institutional investors.

About AngloGold Ashanti

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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