AngloGold Ashanti (NYSE:AU) Sees Unusually-High Trading Volume – Time to Buy?

Shares of AngloGold Ashanti plc (NYSE:AU) saw an uptick in trading volume on Tuesday . 867,897 shares traded hands during trading, a decline of 59% from the previous session’s volume of 2,129,045 shares.The stock last traded at $25.88 and had previously closed at $25.44.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AU. Scotiabank raised AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 target price on the stock in a report on Thursday, November 21st. Investec raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Royal Bank of Canada raised shares of AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 target price for the company in a report on Tuesday, December 3rd. JPMorgan Chase & Co. reduced their price target on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Finally, StockNews.com lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.75.

AngloGold Ashanti Stock Performance

The company has a 50-day moving average price of $24.83 and a two-hundred day moving average price of $27.20. 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 Investors Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its holdings in AngloGold Ashanti by 39.5% during the 3rd quarter. FMR LLC now owns 10,448,445 shares of the mining company’s stock valued at $277,968,000 after purchasing an additional 2,957,304 shares during the last quarter. TT International Asset Management LTD grew its stake in shares of 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 valued at $75,525,000 after buying an additional 962,141 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AngloGold Ashanti by 159.0% in 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 worth $33,327,000 after buying an additional 768,363 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of AngloGold Ashanti by 1,504.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 391,715 shares of the mining company’s stock worth $10,419,000 after acquiring an additional 367,306 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 valued at $6,900,000 after acquiring an additional 193,992 shares during the period. Hedge funds and other institutional investors own 36.09% of the company’s stock.

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.