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Anglogold Ashanti Ltd. (AU) [hlAlert]

down 37.18 %

Anglogold Ashanti Ltd. (AU) downgraded to Underweight by HSBC Securities

Posted on: Thursday,  Aug 8, 2013  8:25 AM ET by HSBC Securities

HSBC Securities rated Underweight Anglogold Ashanti Ltd. (NYSE: AU) on 08/08/2013. Previously HSBC Securities rated Overweight Anglogold Ashanti Ltd. (NYSE: AU) on
04/29/2013., when the stock price was $18.85. Since then, Anglogold Ashanti Ltd. has lost 37.19% as of 08/08/2013's recent price of $11.84.
If you would have followed the previous HSBC Securities's recommendation on AU, you would have lost 37.18% of your investment in 101 days.

AngloGold Ashanti Limited (AngloGold Ashanti) is a global producer of gold. AngloGold Ashanti has 21 operations and a number of exploration programs in gold-producing regions of the world. During the year ended December 31, 2008, the Company produced 4.98 million ounces of gold from its operations. AngloGold Ashanti?s main product is gold. Revenue is also derived from the sales of silver, uranium oxide and sulphuric acid. The Company sells its products on international markets. In December 2008, AngloGold Ashanti completed the purchase of Sao Bento Gold Company Limited and its wholly owned subsidiary, Sao Bento Mineracao S.A. from Eldorado Gold Corporation. Effective July 1, 2008, the Company acquired Golden Cycle Gold Corporation. In October 2009, Randgold Resources Limited and AngloGold Ashanti Limited, through their indirect jointly owned subsidiary, 0858065 BC Ltd., acquired Moto Goldmines Limited.

HSBC has refined and refocused its Global Equities organisation, creating a lean and flexible business model built to meet the needs of global issuers and investors today and in the future. Acknowledging the changing demands of clients, we have also refined our research model, moving away from traditional maintenance to focus on long term, thematic research (a two-year-plus horizon) combined with short term (zero to three months), real-time, actionable ideas both for companies and sectors.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
8/8/2013 8:25 AM Sell
as of 12/13/2013
1 Week up  1.83 %
1 Month up  22.47 %
3 Months up  6.20 %
1 YTD down  -61.92 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
4/29/2013 8:25 AM Buy
18.85 31.00
11/30/2012 8:25 AM Buy
31.31 61.00
7/26/2012 8:27 AM Buy
33.42 69.00
5/15/2012 8:25 AM Buy
32.02 71.00
9/16/2011 8:25 AM Buy
46.13 76.00
5/13/2011 8:25 AM Buy
44.37 65.00
3/29/2010 9:25 AM Hold
37.64 43.00
1/26/2009 9:25 AM Buy
29.42 35.00

(*) Stock Price at the time of the recommendation.
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