Fintel reports that on April 19, 2024, HSBC downgraded their outlook for AngloGold Ashanti (NYSE:AU) from Hold to Reduce.

Analyst Price Forecast Suggests 12.43% Downside

As of August 31, 2023, the average one-year price target for AngloGold Ashanti is 20.76. The forecasts range from a low of 15.61 to a high of $28.47. The average price target represents a decrease of 12.43% from its latest reported closing price of 23.71.

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The projected annual revenue for AngloGold Ashanti is 4,769MM, an increase of 4.08%. The projected annual non-GAAP EPS is 1.80.

What is the Fund Sentiment?

There are 342 funds or institutions reporting positions in AngloGold Ashanti. This is a decrease of 13 owner(s) or 3.66% in the last quarter. Average portfolio weight of all funds dedicated to AU is 0.37%, an increase of 15.14%. Total shares owned by institutions increased in the last three months by 20.30% to 172,883K shares. The put/call ratio of AU is 1.03, indicating a bearish outlook.

What are Other Shareholders Doing?

Van Eck Associates holds 25,799K shares representing 6.18% ownership of the company. In it's prior filing, the firm reported owning 24,901K shares, representing an increase of 3.48%. The firm increased its portfolio allocation in AU by 1.62% over the last quarter.

GDX - VanEck Vectors Gold Miners ETF holds 22,565K shares representing 5.41% ownership of the company. In it's prior filing, the firm reported owning 22,276K shares, representing an increase of 1.28%. The firm decreased its portfolio allocation in AU by 2.51% over the last quarter.

Barclays holds 9,668K shares representing 2.32% ownership of the company.

First Eagle Investment Management holds 6,003K shares representing 1.44% ownership of the company. In it's prior filing, the firm reported owning 1,456K shares, representing an increase of 75.74%. The firm increased its portfolio allocation in AU by 349.08% over the last quarter.

SGGDX - First Eagle Gold Fund holds 5,924K shares representing 1.42% ownership of the company. In it's prior filing, the firm reported owning 1,377K shares, representing an increase of 76.76%. The firm increased its portfolio allocation in AU by 333.44% over the last quarter.

AngloGold Ashanti Background Information
(This description is provided by the company.)

AngloGold Ashanti Limited is a global gold mining company. It was formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation. It is now a global gold producer with 21 operations on four continents.