AngloGold Ashanti (NYSE:AU) Hits New 1-Year High – What’s Next?

AngloGold Ashanti plc (NYSE:AU)’s share price hit a new 52-week high on Monday . The company traded as high as $33.22 and last traded at $33.12, with a volume of 568114 shares. The stock had previously closed at $31.43.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AU shares. StockNews.com cut AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reduced their target price on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. 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 on the stock in a research note on Tuesday, December 3rd. Scotiabank upgraded AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price objective for the company in a research report on Thursday, November 21st. Finally, Investec raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. 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 stock. According to data from MarketBeat.com, AngloGold Ashanti presently has a consensus 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 fifty day moving average of $26.18 and a 200-day moving average of $27.33.

Hedge Funds Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of AngloGold Ashanti by 10.9% in the 4th quarter. Van ECK Associates Corp now owns 25,411,814 shares of the mining company’s stock valued at $586,504,000 after purchasing an additional 2,491,130 shares during the period. FMR LLC increased its stake in AngloGold Ashanti by 39.5% in the 3rd quarter. FMR LLC now owns 10,448,445 shares of the mining company’s stock valued at $277,968,000 after buying an additional 2,957,304 shares during the period. TT International Asset Management LTD lifted its position in AngloGold Ashanti by 51.3% in the 3rd 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. Ninety One UK Ltd purchased a new stake in AngloGold Ashanti in the 4th quarter worth approximately $45,043,000. Finally, Allianz Asset Management GmbH boosted its stake in shares of AngloGold Ashanti by 39.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,934,603 shares of the mining company’s stock valued at $44,651,000 after buying an additional 542,463 shares during the period. Institutional investors and hedge funds 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.