AngloGold Ashanti (NYSE:AU) Trading Up 5.5% – Should You Buy?

AngloGold Ashanti plc (NYSE:AU)’s share price traded up 5.5% during trading on Tuesday . The company traded as high as $24.90 and last traded at $24.82. 925,334 shares were traded during trading, a decline of 45% from the average session volume of 1,687,330 shares. The stock had previously closed at $23.53.

Analyst Ratings Changes

AU has been the subject of a number of research analyst reports. Investec upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Scotiabank upgraded AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price target for the company in a research note on Thursday, November 21st. Royal Bank of Canada upgraded AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 price objective on the stock 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 report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, AngloGold Ashanti presently has a consensus rating of “Hold” and a consensus target price of $31.75.

AngloGold Ashanti Stock Up 3.1 %

The company has a market cap of $10.58 billion, a P/E ratio of 7.88 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.14. The stock has a fifty day moving average price of $24.93 and a two-hundred day moving average price of $27.14.

Institutional Investors Weigh In On AngloGold Ashanti

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in shares of AngloGold Ashanti in the third quarter valued at $126,000. JPMorgan Chase & Co. raised its stake in AngloGold Ashanti by 378.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,782 shares of the mining company’s stock valued at $127,000 after acquiring an additional 3,782 shares during the period. Blue Trust Inc. lifted its holdings in AngloGold Ashanti by 72.6% during the third quarter. Blue Trust Inc. now owns 5,991 shares of the mining company’s stock valued at $151,000 after purchasing an additional 2,520 shares during the last quarter. Ritholtz Wealth Management purchased a new position in shares of AngloGold Ashanti in the third quarter worth about $222,000. Finally, Ballentine Partners LLC raised its position in shares of AngloGold Ashanti by 5.9% in the second quarter. Ballentine Partners LLC now owns 12,279 shares of the mining company’s stock valued at $309,000 after purchasing an additional 682 shares during the period. 36.09% of the stock is currently 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.