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

AngloGold Ashanti plc (NYSE:AU) shares saw an uptick in trading volume on Wednesday . 1,599,850 shares traded hands during mid-day trading, a decline of 23% from the previous session’s volume of 2,089,873 shares.The stock last traded at $24.87 and had previously closed at $25.30.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Investec upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on AngloGold Ashanti from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Scotiabank upgraded AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price target for the company in a research note on Thursday, November 21st. Finally, BMO Capital Markets raised their price objective on AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.67.

AngloGold Ashanti Price Performance

The firm has a fifty day moving average of $27.20 and a 200-day moving average of $27.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.83 and a quick ratio of 1.19.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds and other institutional investors have recently bought and sold shares of AU. Van ECK Associates Corp boosted its position in AngloGold Ashanti by 0.4% in the 3rd quarter. Van ECK Associates Corp now owns 22,920,684 shares of the mining company’s stock valued at $610,378,000 after buying an additional 80,563 shares during the last quarter. FMR LLC grew its stake in AngloGold Ashanti by 39.5% during the 3rd quarter. FMR LLC now owns 10,448,445 shares of the mining company’s stock valued at $277,968,000 after purchasing an additional 2,957,304 shares in the last quarter. TT International Asset Management LTD grew its stake 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 valued at $75,525,000 after purchasing an additional 962,141 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AngloGold Ashanti by 159.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,251,492 shares of the mining company’s stock valued at $33,327,000 after purchasing an additional 768,363 shares in the last quarter. Finally, Barings LLC grew its position in shares of AngloGold Ashanti by 395.0% during the second quarter. Barings LLC now owns 1,101,183 shares of the mining company’s stock worth $27,818,000 after buying an additional 878,717 shares in the last quarter. 36.09% of the stock is owned by institutional investors and hedge funds.

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.