AngloGold Ashanti plc (NYSE:AU) Sees Significant Growth in Short Interest

AngloGold Ashanti plc (NYSE:AU) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 11,930,000 shares, an increase of 43.2% from the October 15th total of 8,330,000 shares. Based on an average daily volume of 2,210,000 shares, the days-to-cover ratio is presently 5.4 days.

AngloGold Ashanti Price Performance

AngloGold Ashanti stock traded down $0.18 during midday trading on Friday, hitting $23.83. 1,484,997 shares of the stock were exchanged, compared to its average volume of 2,474,569. AngloGold Ashanti has a 52 week low of $15.80 and a 52 week high of $32.57. The company has a quick ratio of 1.19, a current ratio of 1.83 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $27.60 and a two-hundred day simple moving average of $26.93.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Scotiabank reiterated a “sector underperform” rating and issued a $30.00 price objective (up previously from $27.00) on shares of AngloGold Ashanti in a research report on Monday, August 19th. StockNews.com cut AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday. Investec raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their price objective on AngloGold Ashanti from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.67.

Hedge Funds Weigh In On AngloGold Ashanti

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised 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 worth $277,968,000 after buying an additional 2,957,304 shares during the period. Barings LLC increased its holdings in shares of AngloGold Ashanti by 395.0% in the second quarter. Barings LLC now owns 1,101,183 shares of the mining company’s stock worth $27,818,000 after acquiring an additional 878,717 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AngloGold Ashanti by 159.0% during 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. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of AngloGold Ashanti by 1,504.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 391,715 shares of the mining company’s stock valued at $10,419,000 after purchasing an additional 367,306 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in AngloGold Ashanti by 297.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 259,120 shares of the mining company’s stock worth $6,900,000 after buying an additional 193,992 shares during the period. 36.09% of the stock is owned by institutional investors.

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.