On June 10, Anglogold Ashanti fell 5% in pre-market trading. The stock extended its recent slide as bearish sentiment from an investment bank downgrade continued to pressure shares.
On the news front, Royal Bank of Canada recently slashed its price target on AngloGold Ashanti from $138 to $114, a 17.4% reduction, while maintaining its outperform rating. The significant target price cut has continued to suppress market sentiment in subsequent sessions. The broader gold mining sector also remains under collective selling pressure, with peers Newmont Mining down 2.63%, Barrick Mining down 3.42%, Coeur Mining down 3.6%, Agnico Eagle Mines down 2.91%, and Pan American Silver down 3.03%.
AngloGold Ashanti is an independent global gold mining company with operations across 11 countries on four continents. Gold is its primary product, with silver and sulphuric acid produced as by-products. The company reported EPS of $2.52 in its most recent quarter ended March.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
