On September 11, Anglogold Ashanti rose 3.07% in pre-market trading, trading at $107.07/share, with turnover of $838,300. The rebound comes after the stock fell sharply in the prior session following a rating downgrade.
The broader gold sector is strengthening in pre-market activity, with Coeur Mining up 2.89%, Agnico Eagle Mines up 2.70%, Wheaton Precious Metals up 2.66%, Newmont Mining up 2.17%, and Barrick Mining Corporation up 1.96%. The sector-wide uplift is providing a tailwind for Anglogold Ashanti's recovery.
On September 10, BMO Capital downgraded Anglogold Ashanti from outperform to market perform with a $115 price target, triggering a decline of over 5% during that session. The BMO target sits well below the analyst consensus mean target of $135.59, with the average rating remaining at overweight according to FactSet. The prior session's sharp selloff on below-average volume may have created conditions for a technical bounce as the stock now reclaims ground toward the $107-$108 range.
(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.)
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