Breaking News

South African Gold Mining Stock AngloGold Ashanti Gets Upgraded, Gold Fields Downgraded

Published Jan 30, 2023 17:37 Updated Jan 30, 2023 18:40

Saved. See Saved Items.

This article has already been saved in your Saved Items

South African Gold Mining Stock AngloGold Ashanti Gets Upgraded, Gold Fields Downgraded

© Reuters. South African Gold Mining Stock AngloGold Ashanti Gets Upgraded, Gold Fields Downgraded

GFI

-0.14%

Add to/Remove from a Portfolio

Gold

+0.11%

Add to/Remove from a Portfolio

AU

-0.53%

Add to/Remove from a Portfolio

TRE

0.00%

Add to/Remove from a Portfolio

TGTB34

0.00%

Add to/Remove from a Portfolio

G1FI34

0.00%

Add to/Remove from a Portfolio

Benzinga - The SPDR Gold Trust (NYSE: GLD) is up 15.8% since Oct. 1, and gold prices are approaching $2,000 per ounce for the first time since April 2022.

On Monday, one gold miner analyst adjusted his coverage of South African gold miners and said investors should tread carefully in the region.

The Analyst: Bank of America analyst Cameron Needham has issued the following ratings changes:

Upgraded AngloGold Ashanti Limited (NYSE: AU) from Neutral to Buy with a price target of $24.
Downgraded Gold Fields Limited (NYSE: GFI) from Buy to Neutral with a price target of $12.20.

Related Link: Good As Gold: Investors Haven't Given Up On The Traditional Safe Haven

The Thesis: As a whole, Needham said he is bullish on the outlook for gold but prefers stocks that have either a proven track record of value creation or potential for value creation via restructuring or operational improvements. Among the South African miners, Needham says AngloGold fits the bill.

"ANG’s restructuring programme is underway and as such, we view the risk-reward as somewhat skewed towards the upside as operational improvements are delivered," Needham said.

Related Link: If You Invested $1,000 In The GLD Gold ETF At Its Pandemic Low, Here's How Much You'd Have Now

Needham says the termination of Gold Field's merger deal with Yamana Gold Inc (NYSE: AUY) and the resignation of its CEO create an uncertainty overhang for the stock. He also reiterated an Underperform rating for Harmony Gold Mining Co. (NYSE: HMY) with a $2.20 price target, citing how the company's poor track record with facilities creates a safety risk for investors.

Benzinga's Take: Gold has historically had a very low correlation with stock prices, making it a great way to protect your portfolio from a stock market sell-off. While gold does not generate any cash flow or yield directly, it may still be the best option in today's market for investors looking for an effective inflation hedge that can hold up amid a broad stock market sell-off.

Latest Ratings for GLD

DateFirmActionFromTo

View More Analyst Ratings for GLD

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Related Articles

Add a Comment

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically.
Use standard writing style. Include punctuation and upper and lower cases.
NOTE: Spam and/or promotional messages and links within a comment will be removed
Avoid profanity, slander or personal attacks directed at an author or another user.
Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read and understood Investing.com UK's comment guidelines and agree to the terms described.

Write your thoughts here

Are you sure you want to delete this chart?

Post also to:

Replace the attached chart with a new chart ?

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d51-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d51-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d51-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
		</div>
    </div>
			</div>
			<div id="show-more-comments">
				<a class="showMoreComments block">
					<span class="arial_12 showArrowafter">Show more comments (<span class="js-amount"></span>)</span>
				</a>
			</div>
			<div id="show-more-replies">
				<a class="showMoreReplies block">
					<span class="arial_12 showArrowafter">Show more replies (<span class="js-amount"></span>)</span>
				</a>
			</div>

Are you sure you want to delete this chart?

Replace the attached chart with a new chart ?

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

I feel that this comment is:

Spam

Offensive

Thank You!

Your report has been sent to our moderators for review

More Categories

1D1W1M6M1Y5YMax

	FTSE 100	7,513.34	-2.04	-0.03%
	DAX	16,621.05	-35.39	-0.21%
	Euro Stoxx 50	4,469.95	-13.31	-0.30%
	S&P 500	4,549.34	-17.84	-0.39%
	Nikkei 225	32,858.31	-590.90	-1.77%
	Dow Jones	36,054.43	-70.13	-0.19%
	FTSE 100 Futures	7,522.8	+12.9	+0.17%

	Brent Oil	75.28	+0.98	+1.32%
	Crude Oil WTI	70.29	+0.91	+1.31%
	Gold	2,050.20	+2.30	+0.11%
	Silver	24.238	+0.010	+0.04%
	Copper	3.7650	+0.0305	+0.82%
	London Cocoa	3,567.00	+132.00	+3.84%
	London Wheat	186.10	+1.25	+0.68%

	U.K. 10Y	4.0235	+0.0785	+1.99%
	U.K. 5Y	4.0830	+0.0790	+1.97%
	U.K. 2Y	4.5715	+0.0985	+2.20%
	Germany 10Y	2.1975	-0.0155	-0.70%
	U.S. 10Y	4.158	+0.039	+0.95%
	U.S. 5Y	4.150	+0.027	+0.66%
	U.S. 2Y	4.615	+0.012	+0.27%

	Lloyds Banking	45.47	-0.32	-0.71%
	Vodafone Group PLC	70.65	-1.53	-2.12%
	Barclays	139.04	-1.20	-0.86%
	BT Group	133.15	-3.50	-2.56%
	HSBC	612.60	-2.10	-0.34%
	BHP Group Ltd	2,483.98	+22.50	+0.91%
	Exxon Mobil	99.17	-1.27	-1.26%

Most Popular Articles

British Airways owner, nosedives as JPMorgan cuts rating, slashes... By Proactive Investors - Dec 07, 2023 1

Vertu down 23% after car dealer sounds earnings alarm By Proactive Investors - Dec 07, 2023

HMRC tax on crypto coming for UK: will it effect Bitcoin’s bull run? By Invezz - Dec 07, 2023

UK house prices rise amid property shortage - Halifax By Sharecast - Dec 07, 2023 2

Oil stages small recovery as weak economic outlook lingers By Reuters - Dec 07, 2023 2

Gold Sells Off After Hitting All-Time High: Can Bulls Mount New Charge... By Günay Caymaz - Dec 05, 2023 2

Cautious on Commodities in 2024 By ING Economic and Financial Analysis - Dec 04, 2023

Look ahead to FTSE 350, other companies reporting & economic events... By Hargreaves Lansdown - Dec 07, 2023

The Commodities Feed: Oil Under Pressure By ING Economic and Financial Analysis - Dec 06, 2023

What Are the Best Mega-Cap Stocks to Buy for 2024? By Günay Caymaz - Dec 06, 2023 1