AngloGold Ashanti PLC (NYSE:AU) is one of the best dividend stocks yielding at least 5% to buy according to hedge funds.
Photo by Zlaťáky.cz on Pexels On June 26, Freedom Broker initiated coverage of AngloGold Ashanti (NYSE: AU) with a Buy rating and a $114 price target, citing the company’s position at a “strategic inflection point.” In its research note, the firm highlighted AngloGold’s recent portfolio transformation, including the addition of Sukari, which has strengthened its asset base. The analyst also pointed to AngloGold’s improved balance sheet and a pipeline of growth projects in Nevada, positioning the miner for enhanced operational and financial performance. On June 24, Roth Capital analyst Joe Reagor reiterated a Buy rating on Anglogold Ashanti PLC. (NYSE:AU) but lowered the price target to $110 from $121.
Despite the cut, the new price target underscores significant upside potential given that the stock is trading at about $78 a share. The price target cut is in response to the president of Guinea announcing a ban on the export of unrefined gold from the country. The ban is expected to have a significant impact on the company’s operations.