AngloGold Ashanti (NYSE:AU) Shares Gap Down – Time to Sell?

Shares of AngloGold Ashanti plc (NYSE:AU) gapped down before the market opened on Monday . The stock had previously closed at $23.90, but opened at $23.34. AngloGold Ashanti shares last traded at $23.24, with a volume of 299,419 shares traded.

Wall Street Analyst Weigh In

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

AngloGold Ashanti Stock Performance

The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $9.86 billion, a PE ratio of 7.34 and a beta of 0.94. The stock has a fifty day moving average of $26.38 and a 200-day moving average of $27.12.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AU. SG Americas Securities LLC acquired a new stake in shares of AngloGold Ashanti during the third quarter worth about $126,000. Blue Trust Inc. grew its position in 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 purchasing an additional 2,520 shares during the last quarter. Ritholtz Wealth Management purchased a new position in shares of AngloGold Ashanti during the third quarter worth about $222,000. Atomi Financial Group Inc. acquired a new stake in AngloGold Ashanti during the 2nd quarter worth approximately $227,000. Finally, Ballentine Partners LLC grew its stake in shares of AngloGold Ashanti by 5.9% in the 2nd quarter. Ballentine Partners LLC now owns 12,279 shares of the mining company’s stock valued at $309,000 after purchasing an additional 682 shares during the last quarter. 36.09% of the stock is owned by institutional investors and hedge funds.

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.