AngloGold (AU) Stock Soars on Higher Gold Prices
NEW YORK (TheStreet) -- Shares of AngloGold (AU) - Get Report are advancing 5.77% to $21.07 this afternoon as gold prices increase.
Gold for August delivery is rising 0.79% to $1,329.80 per ounce on the COMEX.
Gold futures had reached a one-month low yesterday but are marching higher this afternoon on a weaker dollar.
The potential for global growth hiccups and persisting market instability have also aided in the increase, MarketWatch reports.
AngloGold is a South African mining company.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and increase in net income. However, TheStreet Ratings finds that the company has favored debt over equity in the management of its balance sheet.
You can view the full analysis from the report here: AU
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.