On September 17, Anglogold Ashanti rose 3.86% in regular trading, trading at $101.53/share, with turnover of $14.6226 million. The rally was driven by back-to-back price target upgrades from two major investment banks.

JPMorgan raised its price target on Anglogold Ashanti from $134 to $140, maintaining an Overweight rating, while Royal Bank of Canada lifted its target from $111 to $119, keeping an Outperform rating. The consensus mean price target now stands at $123.40, according to FactSet. The dual upgrades effectively offset lingering negative sentiment from BMO Capital's earlier downgrade to Market Perform with a $115 target, which had contributed to a 4.39% decline on September 14 amid broader gold sector weakness.

Anglogold Ashanti reported Q2 headline earnings of $1.98 per share, up from $1.25 a year earlier, with gold income rising to $3.03 billion. The company maintained its full-year production, cost, and capital expenditure guidance, and expects unit costs to decline in the second half as production scales up.

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