AngloGold Ashanti (NYSE:AU) Stock Price Down 4% – Here’s What Happened

AngloGold Ashanti plc (NYSE:AU) traded down 4% during trading on Tuesday . The company traded as low as $23.56 and last traded at $23.57. 385,609 shares changed hands during trading, a decline of 83% from the average session volume of 2,247,180 shares. The stock had previously closed at $24.55.

Analyst Ratings Changes

A number of analysts have issued reports on AU shares. Scotiabank raised AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 target price on the stock in a report on Thursday, November 21st. Royal Bank of Canada upgraded shares of AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Tuesday, December 3rd. StockNews.com lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Investec upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, AngloGold Ashanti presently has an average rating of “Hold” and an average target price of $31.75.

AngloGold Ashanti Stock Down 2.1 %

The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 7.67 and a beta of 0.94. The firm’s 50 day moving average price is $26.60 and its two-hundred day moving average price is $27.12. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46.

Institutional Trading of AngloGold Ashanti

Hedge funds and other institutional investors have recently modified their holdings of the stock. Frank Rimerman Advisors LLC acquired a new stake in shares of AngloGold Ashanti during the 2nd quarter worth $2,002,000. TT International Asset Management LTD grew its stake in AngloGold Ashanti by 51.3% during the third quarter. TT International Asset Management LTD now owns 2,836,110 shares of the mining company’s stock worth $75,525,000 after buying an additional 962,141 shares in the last quarter. Oaktree Fund Advisors LLC increased its holdings in AngloGold Ashanti by 10.5% in the 2nd quarter. Oaktree Fund Advisors LLC now owns 683,604 shares of the mining company’s stock valued at $17,179,000 after buying an additional 64,993 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of AngloGold Ashanti by 297.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 259,120 shares of the mining company’s stock valued at $6,900,000 after buying an additional 193,992 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of AngloGold Ashanti by 1,504.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 391,715 shares of the mining company’s stock worth $10,419,000 after acquiring an additional 367,306 shares during the period. Institutional investors own 36.09% of the company’s stock.

AngloGold Ashanti Company Profile

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.