AngloGold Ashanti (NYSE:AU) Trading 3.4% Higher – Still a Buy?

AngloGold Ashanti plc (NYSE:AU)’s stock price traded up 3.4% during trading on Monday . The stock traded as high as $31.58 and last traded at $31.24. 572,583 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,293,551 shares. The stock had previously closed at $30.21.

Wall Street Analyst Weigh In

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

AngloGold Ashanti Stock Performance

The firm’s 50-day simple moving average is $25.66 and its 200 day simple moving average is $27.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.14 and a current ratio of 1.73.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of AngloGold Ashanti by 10.9% in the fourth quarter. Van ECK Associates Corp now owns 25,411,814 shares of the mining company’s stock valued at $586,504,000 after buying an additional 2,491,130 shares in the last quarter. FMR LLC grew its stake in AngloGold Ashanti by 39.5% in the 3rd quarter. FMR LLC now owns 10,448,445 shares of the mining company’s stock valued at $277,968,000 after acquiring an additional 2,957,304 shares during the last quarter. TT International Asset Management LTD increased its holdings in AngloGold Ashanti by 51.3% during the 3rd quarter. TT International Asset Management LTD now owns 2,836,110 shares of the mining company’s stock valued at $75,525,000 after acquiring an additional 962,141 shares in the last quarter. Ninety One UK Ltd acquired a new position in AngloGold Ashanti during the fourth quarter worth about $45,043,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of AngloGold Ashanti by 39.0% in the fourth quarter. Allianz Asset Management GmbH now owns 1,934,603 shares of the mining company’s stock valued at $44,651,000 after purchasing an additional 542,463 shares in the last quarter. 36.09% of the stock is owned by institutional investors and hedge funds.

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.