AngloGold Ashanti Limited (ADR) (AU)

synergize (98.00) Submitted: 5/08/08 10:03 AM : Start Price: $37.12 AU Score: 6.08

Gold has been hot recently. You can verify this using the gold index. Other gold stocks that were bullish in my lists are AGT,AZK,EGO,UXG

The stock price was in the oversold on 1-May-2008. It would have been a perfect entry as the stock goes up when it reach the oversold. Now it’s in the oversold but my call wasn’t too late. There is a potential to break on the upside.

The stock hit its 52 week high of 51.35 in January and set its 52 week low of 30.50 in March. AngloGold Ashanti, the world's third biggest gold producer, posted a jump in earnings and announced it plans to raise around 11.9 billion rand ($1.6 billion) through a rights offer of shares. The company posted reported adjusted headline earnings of $105 million, significantly higher than the previous quarter, due to the improved gold prices. Technical indicators for the stock are bullish.

Overview of the Company:
The Company conducts gold-mining operations in Argentina, Australia, Brazil, Ghana, Guinea, Mali, Namibia, South Africa, Tanzania and the United States of America. The Company also produces uranium oxide and sulphuric acid.

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