AngloGold Ashanti (NYSE:AU) Sees Large Volume Increase – Here’s Why

AngloGold Ashanti plc (NYSE:AU) shares saw an uptick in trading volume on Thursday . 3,372,901 shares changed hands during mid-day trading, an increase of 64% from the previous session’s volume of 2,050,898 shares.The stock last traded at $24.62 and had previously closed at $24.54.

Analysts Set New Price Targets

AU has been the topic of a number of recent analyst reports. Scotiabank raised shares of AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price target on the stock in a research report on Thursday. BMO Capital Markets increased their price target on AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com lowered AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. raised their target price on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Investec upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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 $27.41 and a two-hundred day simple moving average of $26.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.19 and a current ratio of 1.83.

Hedge Funds Weigh In On AngloGold Ashanti

A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp grew its stake in shares of AngloGold Ashanti by 0.4% in the third quarter. Van ECK Associates Corp now owns 22,920,684 shares of the mining company’s stock valued at $610,378,000 after buying an additional 80,563 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AngloGold Ashanti by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 16,808,722 shares of the mining company’s stock valued at $373,154,000 after acquiring an additional 65,025 shares during the period. FMR LLC increased its stake 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 purchasing an additional 2,957,304 shares during the last quarter. TT International Asset Management LTD raised its holdings in shares of AngloGold Ashanti by 51.3% in the 3rd quarter. TT International Asset Management LTD now owns 2,836,110 shares of the mining company’s stock valued at $75,525,000 after purchasing an additional 962,141 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 worth $33,327,000 after purchasing an additional 768,363 shares during the period. 36.09% of the stock is currently owned by institutional investors and hedge funds.

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.