Why AngloGold Ashanti Rallied Today

AngloGold received a price target increase as gold hovers near all-time highs.Shares of gold miner AngloGold Ashanti (AU 4.62%) rallied 4.4% on Wednesday as of 2:06 p.m. ET. The gold mining stock got a lift as gold prices increased slightly toward the record highs reached briefly yesterday, while a Wall Street sell-side analyst increased his price target by a hefty amount.Gold rises, and Wall Street boosts Ashanti's price targetOne can think of AngloGold and its mining peers as leveraged plays on the price ...