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

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

Analyst Ratings Changes

AU has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. StockNews.com lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Scotiabank raised shares of AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 target price for the company in a research note on Thursday, November 21st. Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada raised shares of AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.75.

AngloGold Ashanti Stock Performance

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

Institutional Investors Weigh In On AngloGold Ashanti

Several large investors have recently added to or reduced their stakes in AU. Van ECK Associates Corp grew its stake 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 worth $586,504,000 after acquiring an additional 2,491,130 shares in the last quarter. FMR LLC boosted its holdings in AngloGold Ashanti by 39.5% in the third quarter. FMR LLC now owns 10,448,445 shares of the mining company’s stock valued at $277,968,000 after purchasing an additional 2,957,304 shares during the period. TT International Asset Management LTD grew its stake 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 worth $75,525,000 after purchasing an additional 962,141 shares in the last quarter. Ninety One UK Ltd purchased a new stake in AngloGold Ashanti during the 4th quarter worth about $45,043,000. Finally, Allianz Asset Management GmbH raised its position in AngloGold Ashanti by 39.0% in the 4th 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 hedge funds and other institutional investors.

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.