AngloGold Ashanti (NYSE:AU) Sets New 52-Week High – Time to Buy?

AngloGold Ashanti plc (NYSE:AU)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $33.22 and last traded at $33.12, with a volume of 568114 shares trading hands. The stock had previously closed at $31.43.

Analysts Set New Price Targets

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

AngloGold Ashanti Stock Down 0.6 %

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 business has a fifty day simple moving average of $26.36 and a 200-day simple moving average of $27.37.

Institutional Investors Weigh In On AngloGold Ashanti

A number of hedge funds and other institutional investors have recently bought and sold shares of AU. Whittier Trust Co. bought a new position in AngloGold Ashanti in the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC raised its holdings in AngloGold Ashanti by 210.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company’s stock worth $27,000 after buying an additional 796 shares during the last quarter. R Squared Ltd bought a new position in shares of AngloGold Ashanti in the fourth quarter worth approximately $36,000. Decker Retirement Planning Inc. purchased a new stake in shares of AngloGold Ashanti during the fourth quarter valued at approximately $69,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of AngloGold Ashanti during the fourth quarter valued at approximately $82,000. Hedge funds and other institutional investors own 36.09% of the company’s stock.

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.