AngloGold Ashanti (NYSE:AU) Shares Gap Up – Here’s What Happened

Shares of AngloGold Ashanti plc (NYSE:AU) gapped up before the market opened on Monday . The stock had previously closed at $23.83, but opened at $24.92. AngloGold Ashanti shares last traded at $24.71, with a volume of 401,781 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. BMO Capital Markets boosted their price target on AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Scotiabank restated a “sector underperform” rating and set a $30.00 target price (up previously from $27.00) on shares of AngloGold Ashanti in a report on Monday, August 19th. Finally, Investec upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.67.

AngloGold Ashanti Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.83 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average price is $27.60 and its 200 day moving average price is $26.98.

Institutional Trading of AngloGold Ashanti

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC increased its holdings in AngloGold Ashanti by 26.1% in the 2nd quarter. CWM LLC now owns 2,383 shares of the mining company’s stock valued at $60,000 after acquiring an additional 493 shares during the last quarter. GAMMA Investing LLC increased its position in AngloGold Ashanti by 17.3% during the second quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock valued at $74,000 after acquiring an additional 433 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of AngloGold Ashanti by 338.3% in 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 last quarter. Toronto Dominion Bank purchased a new position in shares of AngloGold Ashanti during the 1st quarter worth about $118,000. Finally, SG Americas Securities LLC bought a new position in AngloGold Ashanti during the 3rd quarter valued at about $126,000. 36.09% of the stock is currently owned by 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.