AngloGold Ashanti (NYSE:AU) Shares Down 4% – Here’s What Happened

AngloGold Ashanti plc (NYSE:AU) shares dropped 4% during trading on Tuesday . The company traded as low as $23.56 and last traded at $23.57. Approximately 385,609 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,247,180 shares. The stock had previously closed at $24.55.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com downgraded AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Investec raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada upgraded shares of AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. cut their target price on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Finally, Scotiabank raised AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price target for the company in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.75.

AngloGold Ashanti Stock Down 2.1 %

The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average price is $26.60 and its 200 day moving average price is $27.12. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 7.67 and a beta of 0.94.

Institutional Trading of AngloGold Ashanti

Several large investors have recently bought and sold shares of the company. FMR LLC lifted its stake in AngloGold Ashanti by 39.5% during the third 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 worth $75,525,000 after purchasing an additional 962,141 shares in the last quarter. Barings LLC lifted its stake in AngloGold Ashanti by 395.0% during the second quarter. Barings LLC now owns 1,101,183 shares of the mining company’s stock valued at $27,818,000 after buying an additional 878,717 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AngloGold Ashanti by 159.0% in 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 valued at $33,327,000 after purchasing an additional 768,363 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in AngloGold Ashanti by 1,504.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 391,715 shares of the mining company’s stock valued at $10,419,000 after acquiring an additional 367,306 shares in the last quarter. Institutional investors and hedge funds 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.