AngloGold Ashanti (NYSE:AU) Stock Price Down 4% – Here’s Why

AngloGold Ashanti plc (NYSE:AU) shares traded down 4% during trading on Tuesday . The company traded as low as $23.56 and last traded at $23.57. 385,609 shares traded hands during trading, a decline of 83% from the average session volume of 2,247,180 shares. The stock had previously closed at $24.55.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AU. Investec upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Royal Bank of Canada raised AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research note on Tuesday, December 3rd. Scotiabank raised 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. JPMorgan Chase & Co. reduced their price objective on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Finally, StockNews.com lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, AngloGold Ashanti has a consensus rating of “Hold” and a consensus target price of $31.75.

AngloGold Ashanti Trading Down 4.0 %

The business has a 50 day moving average of $26.52 and a two-hundred day moving average of $27.10. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 7.23 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.14 and a current ratio of 1.73.

Hedge Funds Weigh In On AngloGold Ashanti

A number of large investors have recently modified their holdings of AU. Blue Trust Inc. raised its holdings in shares of AngloGold Ashanti by 338.3% in the 2nd quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock worth $87,000 after acquiring an additional 2,679 shares during the last quarter. SG Americas Securities LLC bought a new stake in AngloGold Ashanti during the 3rd quarter worth approximately $126,000. Ritholtz Wealth Management purchased a new stake in shares of AngloGold Ashanti in the third quarter worth approximately $222,000. Atomi Financial Group Inc. purchased a new stake in shares of AngloGold Ashanti in the second quarter worth approximately $227,000. Finally, Ballentine Partners LLC lifted its holdings 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 in the last quarter. 36.09% of the stock is currently owned by institutional investors.

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.