On September 28, ANGLOGOLD ASHANTI PLC fell 6.4% in pre-market trading, trading at $92.84/share, with turnover of $334,800. The decline came amid a broad selloff across the gold mining sector as bullion prices pulled back sharply on pre-holiday profit-taking.
Gold prices retreated rapidly ahead of the National Day holiday period, triggering widespread selling pressure across precious metals equities. Within the Gold sector, losses were broad-based: Coeur Mining fell 5.46%, Wheaton Precious Metals dropped 4.46%, Newmont Mining slid 3.76%, Barrick Mining Corporation declined 3.47%, and Kinross lost 2.24%.
Adding to the headwinds, BMO Capital earlier in September downgraded ANGLOGOLD ASHANTI PLC to market perform from outperform, setting a price target of $115. At the time of the downgrade, shares fell nearly 4% on elevated volume. Analysts polled by FactSet maintain an average overweight rating with a mean price target of $135.59, but the BMO action has continued to weigh on near-term sentiment.
ANGLOGOLD ASHANTI PLC operates gold mines across Africa, the Americas, and Australia, with flagship assets including the Geita project in Tanzania and the Obuasi project in Ghana. The company last reported earnings on July 31, posting EPS of $1.98, with the next report expected on November 5.
(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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