AngloGold Ashanti (NYSE:AU) Sees Large Volume Increase – Here’s Why

Shares of AngloGold Ashanti plc (NYSE:AU) saw unusually-high trading volume on Tuesday . Approximately 867,897 shares were traded during mid-day trading, a decline of 59% from the previous session’s volume of 2,129,045 shares.The stock last traded at $25.88 and had previously closed at $25.44.

Wall Street Analysts Forecast Growth

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

AngloGold Ashanti Trading Up 4.2 %

The company’s 50-day moving average is $24.82 and its 200-day moving average is $27.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.14 and a current ratio of 1.73. The firm has a market cap of $11.12 billion, a price-to-earnings ratio of 8.28 and a beta of 0.94.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of AngloGold Ashanti during the third quarter worth $126,000. JPMorgan Chase & Co. boosted its holdings in AngloGold Ashanti by 378.2% during the third quarter. JPMorgan Chase & Co. now owns 4,782 shares of the mining company’s stock worth $127,000 after buying an additional 3,782 shares during the last quarter. Blue Trust Inc. grew its position in shares of AngloGold Ashanti by 72.6% during the 3rd quarter. Blue Trust Inc. now owns 5,991 shares of the mining company’s stock worth $151,000 after buying an additional 2,520 shares during the period. Ritholtz Wealth Management bought a new stake in shares of AngloGold Ashanti in the 3rd quarter valued at about $222,000. Finally, Assenagon Asset Management S.A. bought a new position in AngloGold Ashanti during the 4th quarter worth approximately $248,000. 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.