AngloGold Ashanti (NYSE:AU) Stock Price Up 3.4% – Here’s Why

AngloGold Ashanti plc (NYSE:AU)’s share price rose 3.4% during trading on Monday . The stock traded as high as $31.58 and last traded at $31.24. Approximately 572,583 shares changed hands during trading, a decline of 75% from the average daily volume of 2,293,551 shares. The stock had previously closed at $30.21.

Wall Street Analyst Weigh In

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

AngloGold Ashanti Trading Up 3.5 %

The firm’s 50 day moving average is $25.54 and its 200 day moving average is $27.21. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH boosted its holdings 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 acquiring an additional 542,463 shares during the last quarter. Handelsbanken Fonder AB increased its stake in AngloGold Ashanti by 13.0% in the 4th quarter. Handelsbanken Fonder AB now owns 135,064 shares of the mining company’s stock worth $3,117,000 after buying an additional 15,564 shares in the last quarter. Rhumbline Advisers lifted its holdings in AngloGold Ashanti by 9.3% in the 4th quarter. Rhumbline Advisers now owns 10,745 shares of the mining company’s stock worth $248,000 after purchasing an additional 910 shares in the last quarter. Van ECK Associates Corp boosted its stake in 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 worth $586,504,000 after purchasing an additional 2,491,130 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of AngloGold Ashanti by 13.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 308,991 shares of the mining company’s stock worth $7,132,000 after purchasing an additional 35,500 shares during the last quarter. 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.