On September 17, Anglogold Ashanti rose 3.28% overnight, trading at $103.01/share, with turnover of $353,500.

On the news front, JPMorgan raised its target price on Anglogold Ashanti from $134 to $140 while maintaining an Overweight rating, and RBC Capital Markets simultaneously raised its target price from $111 to $119, keeping an Outperform rating. The back-to-back upgrades from two major investment banks helped offset the negative sentiment stemming from BMO Capital's earlier downgrade on September 10, which cut the stock's rating from Outperform to Market Perform with a $115 target price. BMO's downgrade had triggered a nearly 4% selloff, with the stock subsequently falling further amid broad weakness in the gold mining sector on September 14. The consensus analyst target price now stands at $123.40 with an average Overweight rating, suggesting meaningful upside from current levels.

Anglogold Ashanti is an independent global gold mining company with operations spanning 11 countries across four continents, primarily producing gold alongside silver and sulphuric acid as by-products.

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