AngloGold Ashanti (NYSE:AU) Sets New 52-Week High – Here’s Why

AngloGold Ashanti plc (NYSE:AU)’s stock price reached a new 52-week high on Monday . The company traded as high as $33.22 and last traded at $33.12, with a volume of 568114 shares changing hands. The stock had previously closed at $31.43.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Scotiabank upgraded AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price target on the stock in a research note on Thursday, November 21st. Royal Bank of Canada upgraded shares of AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note 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. StockNews.com lowered AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their target price on AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.75.

AngloGold Ashanti Trading Up 5.8 %

The business’s 50 day simple moving average is $26.18 and its 200 day simple moving average is $27.33. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AU. Creative Planning grew its position in shares of AngloGold Ashanti by 18.2% in the second quarter. Creative Planning now owns 17,961 shares of the mining company’s stock valued at $451,000 after purchasing an additional 2,768 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of AngloGold Ashanti during the third quarter worth about $126,000. Ritholtz Wealth Management acquired a new position in shares of AngloGold Ashanti in the third quarter valued at approximately $222,000. ORG Partners LLC purchased a new position in shares of AngloGold Ashanti during the third quarter valued at approximately $629,000. Finally, Blue Trust Inc. grew its stake in AngloGold Ashanti by 72.6% in the 3rd quarter. Blue Trust Inc. now owns 5,991 shares of the mining company’s stock worth $151,000 after acquiring an additional 2,520 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.