BMO Capital Reiterates Outperform Rating on AngloGold Ashanti (AU)

BMO Capital analyst Raj Ray reiterated an Outperform rating and $40.00 price target on AngloGold Ashanti (NYSE: AU)

The analyst comments "We visited AngloGold Ashanti's Obuasi (Ghana) and Sukari (Egypt) mines last week. Both operations are key assets in AngloGold's portfolio, the former having recently completed its intensive refurbishment program, and the latter, a newly acquired steady-state asset. Our visit to Obuasi raised our confidence in the asset, translating into longer-term higher production expectations. Moreover, we see further optimization opportunities at Sukari, which have not been baked into our estimates. We maintain our Outperform rating and US$40/sh target price."

For an analyst ratings summary and ratings history on AngloGold Ashanti click here. For more ratings news on AngloGold Ashanti click here.

Shares of AngloGold Ashanti closed at $34.86 yesterday.

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