ABSA downgrades AngloGold Ashanti to Underweight, signaling caution after a strong rally.

ABSA Securities downgraded AngloGold Ashanti to Underweight with a price target of $100.82, citing concerns that the recent strong rally in gold and mining stocks may have peaked. Despite AngloGold's operational strength and margin improvements, rising costs and valuation concerns suggest limited upside. Investors are advised to moderate exposure and watch gold price stability and sector trends for future signals.