AngloGold Ashanti (NYSE:AU) Shares Gap Down – What’s Next?

AngloGold Ashanti plc (NYSE:AU)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $25.15, but opened at $24.54. AngloGold Ashanti shares last traded at $24.56, with a volume of 1,242,352 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Investec upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. BMO Capital Markets boosted their target price on AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Scotiabank upgraded shares of AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 target price on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $33.67.

AngloGold Ashanti Trading Up 2.7 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.19 and a current ratio of 1.83. The stock’s 50-day moving average price is $27.36 and its 200-day moving average price is $26.98.

Hedge Funds Weigh In On AngloGold Ashanti

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC raised its stake in shares of AngloGold Ashanti by 26.1% during the 2nd quarter. CWM LLC now owns 2,383 shares of the mining company’s stock worth $60,000 after purchasing an additional 493 shares in the last quarter. GAMMA Investing LLC grew its position in shares of AngloGold Ashanti by 17.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock worth $74,000 after purchasing an additional 433 shares in the last quarter. Blue Trust Inc. increased its stake in AngloGold Ashanti by 338.3% during the 2nd quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock worth $87,000 after acquiring an additional 2,679 shares during the period. Toronto Dominion Bank acquired a new position in AngloGold Ashanti in the first quarter valued at about $118,000. Finally, SG Americas Securities LLC bought a new stake in shares of AngloGold Ashanti during the 3rd quarter worth approximately $126,000. 36.09% of the stock is currently 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.