AngloGold Ashanti (NYSE:AU) Sees Large Volume Increase – Here’s Why

AngloGold Ashanti plc (NYSE:AU) shares saw strong trading volume on Wednesday . 1,599,850 shares traded hands during mid-day trading, a decline of 23% from the previous session’s volume of 2,089,873 shares.The stock last traded at $24.87 and had previously closed at $25.30.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AU shares. JPMorgan Chase & Co. boosted their target price on AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. StockNews.com lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. BMO Capital Markets lifted their price target on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, Scotiabank raised shares of AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price target on the stock in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, AngloGold Ashanti currently has an average rating of “Hold” and a consensus target price of $33.67.

AngloGold Ashanti Price Performance

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 business’s 50 day moving average is $27.20 and its 200 day moving average is $27.05.

Institutional Trading of AngloGold Ashanti

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of AngloGold Ashanti by 39.5% during the 3rd 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 third quarter. TT International Asset Management LTD now owns 2,836,110 shares of the mining company’s stock worth $75,525,000 after acquiring an additional 962,141 shares during the last quarter. Barings LLC lifted its position in shares of AngloGold Ashanti by 395.0% in the second quarter. Barings LLC now owns 1,101,183 shares of the mining company’s stock valued at $27,818,000 after acquiring an additional 878,717 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AngloGold Ashanti by 159.0% during 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 acquiring an additional 768,363 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in AngloGold Ashanti by 1,504.8% in 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 purchasing an additional 367,306 shares during the last quarter. Hedge funds and other institutional investors 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.