AngloGold Ashanti (NYSE:AU) Sees Large Volume Increase – What’s Next?

AngloGold Ashanti plc (NYSE:AU) shares saw an uptick in trading volume on Thursday . 3,372,901 shares changed hands during trading, an increase of 64% from the previous session’s volume of 2,050,898 shares.The stock last traded at $24.62 and had previously closed at $24.54.

Analysts Set New Price Targets

Several equities research analysts recently commented on AU shares. StockNews.com cut AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on AngloGold Ashanti from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets lifted their target price on AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, Scotiabank raised 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 note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $33.67.

AngloGold Ashanti Trading Up 3.0 %

The stock has a 50 day moving average of $27.36 and a two-hundred day moving average of $26.98. The company has a quick ratio of 1.19, a current ratio of 1.83 and a debt-to-equity ratio of 0.48.

Institutional Investors Weigh In On AngloGold Ashanti

Several hedge funds have recently modified their holdings of AU. CWM LLC raised 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 in the last quarter. GAMMA Investing LLC raised its stake in shares of AngloGold Ashanti by 17.3% in the second quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock valued at $74,000 after purchasing an additional 433 shares in the last quarter. Blue Trust Inc. boosted its stake in AngloGold Ashanti by 338.3% during the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock worth $87,000 after buying an additional 2,679 shares in the last quarter. Toronto Dominion Bank bought a new stake in AngloGold Ashanti in the 1st quarter valued at $118,000. Finally, SG Americas Securities LLC bought a new stake in AngloGold Ashanti in the 3rd quarter valued at $126,000. 36.09% of the stock is 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.