AngloGold Ashanti (NYSE:AU) Stock Price Down 4% – What’s Next?

Shares of AngloGold Ashanti plc (NYSE:AU) fell 4% during trading on Tuesday . The company traded as low as $23.56 and last traded at $23.57. 385,609 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 2,247,180 shares. The stock had previously closed at $24.55.

Wall Street Analysts Forecast Growth

AU has been the subject of several recent research reports. JPMorgan Chase & Co. reduced 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. Scotiabank upgraded AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price objective for the company in a report 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 objective on the stock in a report on Tuesday, December 3rd. Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com downgraded AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.75.

AngloGold Ashanti Stock Down 4.0 %

The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.72 billion, a P/E ratio of 7.23 and a beta of 0.94. The stock has a 50 day moving average price of $26.52 and a 200 day moving average price of $27.10.

Institutional Trading of AngloGold Ashanti

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of AngloGold Ashanti by 338.3% in the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock valued at $87,000 after buying an additional 2,679 shares during the period. SG Americas Securities LLC bought a new stake in AngloGold Ashanti in the third quarter valued at approximately $126,000. Ritholtz Wealth Management acquired a new stake in AngloGold Ashanti during the 3rd quarter valued at approximately $222,000. Atomi Financial Group Inc. bought a new position in AngloGold Ashanti during the 2nd quarter worth approximately $227,000. Finally, Ballentine Partners LLC lifted its position in shares of AngloGold Ashanti by 5.9% in the 2nd quarter. Ballentine Partners LLC now owns 12,279 shares of the mining company’s stock worth $309,000 after purchasing an additional 682 shares during the period. 36.09% of the stock is currently owned by institutional investors.

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.