AngloGold Ashanti (NYSE:AU) Shares Gap Down - Should You Sell?

Shares of AngloGold Ashanti plc (NYSE:AU - Get Free Report) gapped down prior to trading 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 traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com upgraded AngloGold Ashanti from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. BMO Capital Markets raised their price target on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. Investec upgraded shares of AngloGold Ashanti from a "hold" rating to a "buy" rating in a report on Friday, October 18th. Scotiabank reaffirmed a "sector underperform" rating and issued a $30.00 target price (up from $27.00) on shares of AngloGold Ashanti in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. increased their price target on AngloGold Ashanti from $32.00 to $37.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $33.67.

AngloGold Ashanti Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.83 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average price of $28.05 and a 200 day moving average price of $26.95.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AU. Mitsubishi UFJ Trust & Banking Corp purchased a new position in AngloGold Ashanti in the first quarter valued at approximately $596,000. Frank Rimerman Advisors LLC bought a new position in shares of AngloGold Ashanti during the 2nd quarter worth $2,002,000. Russell Investments Group Ltd. increased its holdings in AngloGold Ashanti by 5.6% in the 1st quarter. Russell Investments Group Ltd. now owns 3,396,216 shares of the mining company's stock worth $75,396,000 after acquiring an additional 181,081 shares during the last quarter. US Bancorp DE increased its holdings in AngloGold Ashanti by 748.1% in the 1st quarter. US Bancorp DE now owns 45,142 shares of the mining company's stock worth $1,002,000 after acquiring an additional 39,819 shares during the last quarter. Finally, Oaktree Fund Advisors LLC raised its stake in AngloGold Ashanti by 10.5% in the 2nd quarter. Oaktree Fund Advisors LLC now owns 683,604 shares of the mining company's stock valued at $17,179,000 after acquiring an additional 64,993 shares during the period. Hedge funds and other institutional investors own 36.09% of the company's stock.

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.