AngloGold Ashanti (NYSE:AU) Shares Gap Down to $24.80

AngloGold Ashanti plc (NYSE:AU) shares gapped down before the market opened on Tuesday . The stock had previously closed at $24.80, but opened at $23.21. AngloGold Ashanti shares last traded at $23.32, with a volume of 591,707 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AU shares. JPMorgan Chase & Co. increased their price objective on shares of AngloGold Ashanti from $23.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. HSBC downgraded AngloGold Ashanti from a “hold” rating to a “reduce” rating in a research note on Friday, April 19th. Finally, StockNews.com upgraded AngloGold Ashanti from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, AngloGold Ashanti currently has a consensus rating of “Hold” and a consensus price target of $24.25.

AngloGold Ashanti Stock Performance

The business’s 50-day moving average price is $21.99 and its 200-day moving average price is $19.33.

AngloGold Ashanti Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from AngloGold Ashanti’s previous semi-annual dividend of $0.03. This represents a dividend yield of 1.1%.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in AngloGold Ashanti by 36.1% during the 1st quarter. CWM LLC now owns 1,890 shares of the mining company’s stock valued at $42,000 after buying an additional 501 shares in the last quarter. GAMMA Investing LLC increased its position in AngloGold Ashanti by 108.9% during the first quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock valued at $56,000 after acquiring an additional 1,306 shares during the last quarter. Gradient Investments LLC raised its position in AngloGold Ashanti by 187.9% in the 3rd quarter. Gradient Investments LLC now owns 3,677 shares of the mining company’s stock worth $58,000 after purchasing an additional 2,400 shares during the period. Blue Trust Inc. raised its position in AngloGold Ashanti by 132.0% in the 4th quarter. Blue Trust Inc. now owns 4,023 shares of the mining company’s stock worth $75,000 after purchasing an additional 2,289 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in AngloGold Ashanti by 32.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company’s stock worth $79,000 after purchasing an additional 1,032 shares during the last quarter. 36.09% of the stock is owned by hedge funds and other 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.