AngloGold Ashanti (NYSE:AU) Reaches New 1-Year High at $29.10

Shares of AngloGold Ashanti plc (NYSE:AU) reached a new 52-week high on Wednesday . The company traded as high as $29.10 and last traded at $28.81, with a volume of 655716 shares changing hands. The stock had previously closed at $28.36.

Wall Street Analyst Weigh In

AU has been the topic of several recent research reports. HSBC downgraded AngloGold Ashanti from a “hold” rating to a “reduce” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. dropped their price target 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, July 3rd. Finally, Scotiabank lifted their price objective on AngloGold Ashanti from $22.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $24.50.

AngloGold Ashanti Stock Up 0.3 %

The firm’s 50 day moving average is $24.59 and its 200-day moving average is $21.58.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of AngloGold Ashanti by 36.1% during the 1st quarter. CWM LLC now owns 1,890 shares of the mining company’s stock valued at $42,000 after buying an additional 501 shares during the period. GAMMA Investing LLC grew its holdings in shares of AngloGold Ashanti by 108.9% during the 1st quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock worth $56,000 after purchasing an additional 1,306 shares during the period. Blue Trust Inc. increased its position in shares of AngloGold Ashanti by 132.0% during the 4th quarter. Blue Trust Inc. now owns 4,023 shares of the mining company’s stock worth $75,000 after purchasing an additional 2,289 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of AngloGold Ashanti by 32.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company’s stock worth $79,000 after purchasing an additional 1,032 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new stake in AngloGold Ashanti in the 1st quarter valued at about $118,000. 36.09% of the stock is owned by institutional investors and hedge funds.

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.