AngloGold Ashanti (NYSE:AU) Shares Gap Up to $26.07

AngloGold Ashanti plc (NYSE:AU) gapped up prior to trading on Friday . The stock had previously closed at $26.07, but opened at $27.63. AngloGold Ashanti shares last traded at $27.64, with a volume of 397,104 shares.

Wall Street Analyst Weigh In

AU has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on shares of AngloGold Ashanti from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday. Scotiabank upped their target price on shares of AngloGold Ashanti from $22.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. Finally, HSBC lowered shares of AngloGold Ashanti from a “hold” rating to a “reduce” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.50.

AngloGold Ashanti Stock Performance

The firm’s 50-day simple moving average is $24.09 and its 200 day simple moving average is $21.23.

Institutional Investors Weigh In On AngloGold Ashanti

A number of institutional investors and hedge funds have recently modified their holdings of AU. Vanguard Group Inc. bought a new stake in shares of AngloGold Ashanti in the 3rd quarter valued at about $245,342,000. First Eagle Investment Management LLC raised its holdings in shares of AngloGold Ashanti by 312.3% in the 4th quarter. First Eagle Investment Management LLC now owns 6,003,149 shares of the mining company’s stock valued at $112,199,000 after purchasing an additional 4,547,011 shares during the period. Van ECK Associates Corp grew its stake in AngloGold Ashanti by 7.6% in the 1st quarter. Van ECK Associates Corp now owns 27,747,289 shares of the mining company’s stock valued at $615,990,000 after buying an additional 1,948,322 shares during the last quarter. Deutsche Bank AG acquired a new position in AngloGold Ashanti in the 3rd quarter valued at about $25,027,000. Finally, TT International Asset Management LTD grew its stake in AngloGold Ashanti by 38.8% in the 4th quarter. TT International Asset Management LTD now owns 3,562,919 shares of the mining company’s stock valued at $66,590,000 after buying an additional 995,709 shares during the last quarter. 36.09% of the stock is owned by institutional investors.

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.