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 $27.66, but opened at $26.00. AngloGold Ashanti shares last traded at $25.63, with a volume of 617,647 shares changing hands.

Analysts Set New Price Targets

Several analysts recently weighed in on AU shares. JPMorgan Chase & Co. upped their price target on AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com cut AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday. Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. BMO Capital Markets increased their price target on AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Scotiabank reiterated a “sector underperform” rating and set a $30.00 price objective (up previously from $27.00) on shares of AngloGold Ashanti in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $33.67.

AngloGold Ashanti Stock Down 1.9 %

The business’s 50-day simple moving average is $27.96 and its 200-day simple moving average is $26.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.19 and a current ratio of 1.83.

Institutional Trading of AngloGold Ashanti

Institutional investors have recently made changes to their positions in the company. Chesapeake Capital Corp IL grew its stake in shares of AngloGold Ashanti by 3.1% in the second quarter. Chesapeake Capital Corp IL now owns 14,100 shares of the mining company’s stock valued at $354,000 after buying an additional 429 shares in the last quarter. GAMMA Investing LLC grew its position in shares of AngloGold Ashanti by 17.3% during the second quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock worth $74,000 after acquiring an additional 433 shares during the last quarter. US Bancorp DE lifted its position in AngloGold Ashanti by 1.0% during the 3rd quarter. US Bancorp DE now owns 47,103 shares of the mining company’s stock worth $1,254,000 after acquiring an additional 466 shares during the period. CWM LLC grew its position 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 buying an additional 493 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of AngloGold Ashanti by 1.0% in the 2nd quarter. Sei Investments Co. now owns 64,843 shares of the mining company’s stock valued at $1,630,000 after buying an additional 656 shares during the period. 36.09% of the stock is 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.