AngloGold Ashanti (NYSE:AU) Shares Gap Up to $26.07

AngloGold Ashanti plc (NYSE:AU)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $26.07, but opened at $27.63. AngloGold Ashanti shares last traded at $27.64, with a volume of 397,104 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AU. JPMorgan Chase & Co. lowered their price objective on AngloGold Ashanti from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday. HSBC downgraded AngloGold Ashanti from a “hold” rating to a “reduce” rating in a research report on Friday, April 19th. Finally, Scotiabank lifted their price objective on AngloGold Ashanti from $22.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.50.

AngloGold Ashanti Stock Performance

The stock has a 50-day simple moving average of $24.09 and a 200-day simple moving average of $21.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allianz Asset Management GmbH boosted its holdings in AngloGold Ashanti by 52.8% in the fourth quarter. Allianz Asset Management GmbH now owns 1,424,939 shares of the mining company’s stock valued at $26,632,000 after purchasing an additional 492,358 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in AngloGold Ashanti during the fourth quarter valued at approximately $16,260,000. Oaktree Capital Management LP raised its stake in AngloGold Ashanti by 8.2% during the fourth quarter. Oaktree Capital Management LP now owns 5,874,951 shares of the mining company’s stock valued at $109,803,000 after buying an additional 446,132 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in AngloGold Ashanti during the fourth quarter valued at approximately $1,443,000. Finally, Cibc World Markets Corp acquired a new stake in AngloGold Ashanti during the fourth quarter valued at approximately $1,268,000. Hedge funds and other 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.