AngloGold Ashanti (NYSE:AU) Shares Gap Up to $20.27

Shares of AngloGold Ashanti Limited (NYSE:AU) gapped up before the market opened on Wednesday . The stock had previously closed at $19.73, but opened at $20.27. AngloGold Ashanti shares last traded at $21.10, with a volume of 4,068,570 shares changing hands.

A number of analysts have recently commented on the stock. BMO Capital Markets upgraded shares of AngloGold Ashanti from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $16.00 to $21.00 in a report on Thursday, June 27th. ValuEngine cut shares of AngloGold Ashanti from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Goldman Sachs Group upgraded shares of AngloGold Ashanti from a “neutral” rating to a “buy” rating in a report on Friday, October 18th. Zacks Investment Research cut shares of AngloGold Ashanti from a “buy” rating to a “sell” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of AngloGold Ashanti from $26.60 to $26.10 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. AngloGold Ashanti presently has an average rating of “Hold” and an average price target of $20.23.

The stock’s fifty day moving average price is $20.19 and its 200 day moving average price is $17.16. The company has a current ratio of 0.90, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market cap of $8.72 billion, a P/E ratio of 39.81, a PEG ratio of 0.42 and a beta of -1.04.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of AngloGold Ashanti by 17.3% in the 2nd quarter. BlackRock Inc. now owns 17,378,854 shares of the mining company’s stock worth $309,518,000 after purchasing an additional 2,564,271 shares during the last quarter. AQR Capital Management LLC raised its position in shares of AngloGold Ashanti by 351.6% in the 2nd quarter. AQR Capital Management LLC now owns 4,096,410 shares of the mining company’s stock worth $72,957,000 after purchasing an additional 3,189,262 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of AngloGold Ashanti by 6.8% in the 2nd quarter. Mackenzie Financial Corp now owns 2,333,613 shares of the mining company’s stock worth $41,562,000 after purchasing an additional 148,100 shares during the last quarter. Bamco Inc. NY purchased a new position in shares of AngloGold Ashanti in the 2nd quarter worth about $32,246,000. Finally, LGT Capital Partners LTD. raised its position in shares of AngloGold Ashanti by 11.8% in the 3rd quarter. LGT Capital Partners LTD. now owns 1,734,466 shares of the mining company’s stock worth $31,689,000 after purchasing an additional 182,900 shares during the last quarter. 36.63% of the stock is owned by hedge funds and other institutional investors.

AngloGold Ashanti Company Profile (NYSE:AU)

AngloGold Ashanti Limited operates as a gold mining company. It also produces silver, uranium, and sulphuric acid; and dóre bars. The company operates 14 mines and 3 projects in 10 countries in South Africa, Continental Africa, the Americas, and Australasia. AngloGold Ashanti Limited was incorporated in 1944 and is headquartered in Johannesburg, South Africa.

Further Reading: Equity Income

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