AngloGold Ashanti (NYSE:AU) Shares Gap Up – What’s Next?

AngloGold Ashanti plc (NYSE:AU)’s share price gapped up prior to trading on Monday . The stock had previously closed at $23.83, but opened at $24.92. AngloGold Ashanti shares last traded at $24.71, with a volume of 401,781 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Scotiabank reissued a “sector underperform” rating and set a $30.00 price target (up previously from $27.00) on shares of AngloGold Ashanti in a research report on Monday, August 19th. Investec raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets increased their target price on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com downgraded AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.67.

AngloGold Ashanti Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.19 and a current ratio of 1.83. The business has a 50-day moving average price of $27.60 and a 200 day moving average price of $26.98.

Hedge Funds Weigh In On AngloGold Ashanti

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AU. TT International Asset Management LTD lifted its holdings in AngloGold Ashanti by 51.3% during the 3rd quarter. TT International Asset Management LTD now owns 2,836,110 shares of the mining company’s stock worth $75,525,000 after purchasing an additional 962,141 shares in the last quarter. Geode Capital Management LLC increased its holdings in AngloGold Ashanti by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 327,108 shares of the mining company’s stock worth $8,711,000 after acquiring an additional 8,676 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in AngloGold Ashanti in the 3rd quarter worth approximately $1,606,000. State Street Corp boosted its holdings in AngloGold Ashanti by 546.2% in the 3rd quarter. State Street Corp now owns 211,826 shares of the mining company’s stock valued at $5,641,000 after purchasing an additional 179,045 shares during the period. Finally, Quantinno Capital Management LP grew its stake in AngloGold Ashanti by 6.1% in the 3rd quarter. Quantinno Capital Management LP now owns 26,080 shares of the mining company’s stock worth $695,000 after buying an additional 1,508 shares in the last quarter. Institutional investors own 36.09% of the company’s stock.

About AngloGold Ashanti

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.