AngloGold Ashanti (AU) Price Target Raised to $121 Amid Rising Gold

AI Summary

AngloGold Ashanti plc (AU) was upgraded by Roth Capital on May 11, with its price target increased to $121 from $103, while maintaining a Buy rating. The analyst noted that despite mixed first-quarter results, the higher target is driven by the rebound in gold prices, which enhances profitability in the gold mining sector. Additionally, Ghana's mining regulator has mandated that AngloGold, along with other companies, transition operations to local contractors by December 2026, impacting operational adjustments. Rising gold prices and analyst optimism may bolster future earnings for AU.