AngloGold Ashanti (NYSE:AU) Shares Gap Down – What’s Next?

AngloGold Ashanti plc (NYSE:AU)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $25.15, but opened at $24.54. AngloGold Ashanti shares last traded at $24.56, with a volume of 1,242,352 shares changing hands.

Wall Street Analysts Forecast Growth

AU has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Scotiabank reiterated a “sector underperform” rating and issued a $30.00 target price (up previously from $27.00) on shares of AngloGold Ashanti in a research note on Monday, August 19th. Investec raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. BMO Capital Markets lifted their price objective on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, AngloGold Ashanti has an average rating of “Hold” and a consensus target price of $33.67.

AngloGold Ashanti Price Performance

The business has a 50-day simple moving average of $27.47 and a two-hundred day simple moving average of $27.01. 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

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp increased 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 worth $610,378,000 after buying an additional 80,563 shares during the period. Vanguard Group Inc. raised its position in AngloGold Ashanti by 0.4% in the first quarter. Vanguard Group Inc. now owns 16,808,722 shares of the mining company’s stock worth $373,154,000 after purchasing an additional 65,025 shares in the last quarter. FMR LLC lifted its position in shares of 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. TT International Asset Management LTD raised its stake in AngloGold Ashanti by 51.3% during the third quarter. TT International Asset Management LTD now owns 2,836,110 shares of the mining company’s stock worth $75,525,000 after acquiring an additional 962,141 shares in the last quarter. Finally, 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 third 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 acquiring an additional 768,363 shares during the period. 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.