AngloGold Ashanti plc (NYSE:AU – Get Free Report)’s stock price was up 3.9% on Tuesday . The stock traded as high as $17.70 and last traded at $17.67. Approximately 376,681 shares changed hands during trading, a decline of 87% from the average daily volume of 2,820,153 shares. The stock had previously closed at $17.00.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on AU shares. Morgan Stanley cut shares of AngloGold Ashanti from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 18th. StockNews.com started coverage on AngloGold Ashanti in a report on Sunday, November 12th. They issued a “hold” rating on the stock. BMO Capital Markets upgraded AngloGold Ashanti from a “market perform” rating to an “outperform” rating and increased their price target for the company from $19.00 to $22.00 in a research report on Tuesday, September 12th. HSBC upgraded AngloGold Ashanti from a “reduce” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. began coverage on shares of AngloGold Ashanti in a research report on Thursday, October 12th. They issued an “overweight” rating and a $24.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.40.
AngloGold Ashanti Stock Up 5.2 %
Institutional Investors Weigh In On AngloGold Ashanti
Several hedge funds and other institutional investors have recently made changes to their positions in AU. DekaBank Deutsche Girozentrale bought a new position in shares of AngloGold Ashanti in the 2nd quarter worth $1,031,000. Janney Montgomery Scott LLC acquired a new position in AngloGold Ashanti during the second quarter valued at approximately $241,000. Citigroup Inc. lifted its holdings in AngloGold Ashanti by 32.4% during the first quarter. Citigroup Inc. now owns 147,596 shares of the mining company’s stock worth $3,570,000 after acquiring an additional 36,150 shares in the last quarter. Virtu Financial LLC acquired a new stake in AngloGold Ashanti during the 2nd quarter worth approximately $461,000. Finally, Profund Advisors LLC lifted its stake in AngloGold Ashanti by 10.3% in the first quarter. Profund Advisors LLC now owns 41,770 shares of the mining company’s stock valued at $1,010,000 after buying an additional 3,884 shares in the last quarter. 22.36% of the stock is owned by institutional investors and hedge funds.
About AngloGold Ashanti
AngloGold Ashanti plc operates as a gold mining company in Africa, the Americas, and Australia. The company explores for gold. Its flagship property is a 100% owned Geita project located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania. The company also owns 100% interest in the Iduapriem mine which covers 137 square kilometers located in the western region of Ghana; Obuasi project located in Ghana; AGA Mineração in Brazil; Serra Grande located in central Brazil in the state of Goiás; Greenfield Projects in the Beatty district in Nevada; and Sunrise Dam in Australia.
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