2024-06-06 08:34:21 ET
Summary
- This analysis reiterates a "Hold" rating for shares of AngloGold Ashanti, a mining company that mines gold deposits in various locations.
- The previous analysis predicted a bullish sentiment for AU shares due to improvements in operations and increased demand for gold as a hedge against economic slowdown.
- Strong demand for gold as a safe haven and improved profile of the company will drive AU shares higher, but they are expected to create a more attractive level first.
A Hold Rating for shares of AngloGold Ashanti plc
This analysis reiterates the “Hold” rating for shares of AngloGold Ashanti ( AU ), a Greenwood, Colorado-based mining company that mines gold deposits in West and East Africa, Western Australia, Brazil, and Argentina, as the same rating was already assigned in the previous analysis dated February 14, 2024.
The Previous “Hold” Rating
Share prices were thought to be set on an upbeat mood, but not before trading in neutral for a while: Share prices of AngloGold Ashanti were expected to be subdued by the US Federal Reserve (or "Fed") delaying interest rate cuts as there was uncertainty as to whether inflation was on a convincing path back to the medium-term target of 2%....
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For further details see:
AngloGold Ashanti: The Outlook Is Absolutely Bright, But First A Dip