AngloGold Ashanti (NYSE:AU) Stock Price Up 5.5% – Here’s What Happened

AngloGold Ashanti plc (NYSE:AU)’s share price shot up 5.5% during trading on Tuesday . The company traded as high as $24.90 and last traded at $24.82. 925,334 shares were traded during mid-day trading, a decline of 45% from the average session volume of 1,687,330 shares. The stock had previously closed at $23.53.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Investec raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. StockNews.com downgraded shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Scotiabank upgraded shares of 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. JPMorgan Chase & Co. decreased their target price on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Royal Bank of Canada raised AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 price target on the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.75.

AngloGold Ashanti Price Performance

The business’s fifty day moving average price is $24.93 and its 200-day moving average price is $27.14. The company has a market capitalization of $10.58 billion, a P/E ratio of 7.88 and a beta of 0.94. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46.

Institutional Trading of AngloGold Ashanti

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of AngloGold Ashanti during the third quarter valued at about $126,000. JPMorgan Chase & Co. grew its position in AngloGold Ashanti by 378.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,782 shares of the mining company’s stock worth $127,000 after acquiring an additional 3,782 shares during the last quarter. 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 acquiring an additional 2,520 shares during the last quarter. Ritholtz Wealth Management purchased a new position in AngloGold Ashanti in the 3rd quarter worth approximately $222,000. Finally, International Assets Investment Management LLC bought a new stake in AngloGold Ashanti in the third quarter valued at approximately $3,010,000. 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.