Zacks Research downgraded AngloGold Ashanti plc from a hold rating to a strong sell. The firm issued the research note on Wednesday and reported it on Friday.
The company reported quarterly earnings per share of $2.52. This result beat the consensus estimate of $2.27. Quarterly revenue reached $3.24 billion. This figure missed the analyst expectation of $3.26 billion.
Institutional investor Barings LLC reduced its stake in AngloGold Ashanti by 20.5% during the first quarter. The firm sold 110,759 shares according to a recent filing.
The consensus analyst rating for the stock remains a Moderate Buy. The average price target for the company is $110.50.