AngloGold Ashanti is trading 4.5% down at $103.65 after BMO Capital downgraded the shares to Market Perform from Outperform while retaining a $115 price target.
- BMO cited the stock’s meaningful premium to net asset value following strong relative outperformance.
- Near-term operations remain broadly steady, while broader risk-off sentiment and elevated oil prices may add pressure.
- Recent second-quarter earnings and revenue misses remain an additional overhang, though those results were reported earlier.