AngloGold Ashanti (NYSE:AU) Trading Down 5.4%

AngloGold Ashanti Limited (NYSE:AU)’s share price dropped 5.4% during trading on Friday . The company traded as low as $18.74 and last traded at $18.77, approximately 3,768,469 shares were traded during trading. An increase of 11% from the average daily volume of 3,410,152 shares. The stock had previously closed at $19.84.

AU has been the subject of a number of research analyst reports. Goldman Sachs Group raised AngloGold Ashanti from a “neutral” rating to a “buy” rating in a research note on Friday, October 18th. Zacks Investment Research raised shares of AngloGold Ashanti from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. ValuEngine lowered shares of AngloGold Ashanti from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of AngloGold Ashanti from $26.60 to $26.10 and set an “overweight” rating for the company in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $20.23.

The company has a 50-day simple moving average of $20.00 and a two-hundred day simple moving average of $18.79. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.90. The firm has a market capitalization of $8.21 billion, a P/E ratio of 35.42, a PEG ratio of 0.48 and a beta of -0.99.

Large investors have recently made changes to their positions in the company. Alps Advisors Inc. grew its stake in AngloGold Ashanti by 1.4% in the second quarter. Alps Advisors Inc. now owns 410,625 shares of the mining company’s stock worth $7,313,000 after purchasing an additional 5,703 shares during the period. CIBC Asset Management Inc bought a new stake in shares of AngloGold Ashanti during the 2nd quarter valued at $940,000. Fosun International Ltd boosted its holdings in shares of AngloGold Ashanti by 200.0% during the 2nd quarter. Fosun International Ltd now owns 90,000 shares of the mining company’s stock valued at $1,608,000 after buying an additional 60,000 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AngloGold Ashanti by 19.6% in the 2nd quarter. Vanguard Group Inc. now owns 594,639 shares of the mining company’s stock worth $10,590,000 after buying an additional 97,251 shares during the period. Finally, Hussman Strategic Advisors Inc. grew its position in shares of AngloGold Ashanti by 101.2% in the 3rd quarter. Hussman Strategic Advisors Inc. now owns 251,500 shares of the mining company’s stock worth $4,595,000 after buying an additional 126,500 shares during the period. 35.80% of the stock is owned by hedge funds and other institutional investors.

About AngloGold Ashanti (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.

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