AngloGold Ashanti (NYSE:AU) Shares Gap Down – Here’s Why

AngloGold Ashanti plc (NYSE:AU)’s share price gapped down before the market opened on Monday . The stock had previously closed at $23.90, but opened at $23.34. AngloGold Ashanti shares last traded at $23.24, with a volume of 299,419 shares.

Wall Street Analyst Weigh In

AU has been the subject of a number of recent analyst reports. Investec upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada upgraded 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. StockNews.com cut shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. decreased their price objective on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Scotiabank upgraded shares of AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price objective on the stock in a research report on Thursday, November 21st. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.75.

AngloGold Ashanti Trading Down 1.7 %

The stock has a market cap of $9.86 billion, a PE ratio of 7.34 and a beta of 0.94. 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 business has a 50-day moving average of $26.38 and a 200 day moving average of $27.12.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp increased its position in AngloGold Ashanti by 0.4% during the 3rd quarter. Van ECK Associates Corp now owns 22,920,684 shares of the mining company’s stock worth $610,378,000 after purchasing an additional 80,563 shares in the last quarter. FMR LLC increased its position in shares of AngloGold Ashanti by 39.5% in the third quarter. FMR LLC now owns 10,448,445 shares of the mining company’s stock worth $277,968,000 after acquiring an additional 2,957,304 shares in the last quarter. TT International Asset Management LTD raised its stake in shares of AngloGold Ashanti by 51.3% in the 3rd quarter. TT International Asset Management LTD now owns 2,836,110 shares of the mining company’s stock valued at $75,525,000 after acquiring an additional 962,141 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AngloGold Ashanti by 159.0% during the 3rd 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 in the last quarter. Finally, Barings LLC boosted its position in AngloGold Ashanti by 395.0% during the 2nd quarter. Barings LLC now owns 1,101,183 shares of the mining company’s stock worth $27,818,000 after purchasing an additional 878,717 shares during the period. 36.09% of the stock is currently owned by institutional investors and hedge funds.

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.