AngloGold Ashanti (NYSE:AU) Shares Gap Up - Should You Buy?

AngloGold Ashanti plc (NYSE:AU - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $23.83, but opened at $24.92. AngloGold Ashanti shares last traded at $24.71, with a volume of 401,781 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on AU shares. StockNews.com lowered AngloGold Ashanti from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on shares of AngloGold Ashanti from $32.00 to $37.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. BMO Capital Markets lifted their target price on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Investec upgraded shares of AngloGold Ashanti from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. Finally, Scotiabank reiterated a "sector underperform" rating and issued a $30.00 price objective (up previously from $27.00) on shares of AngloGold Ashanti in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $33.67.

AngloGold Ashanti Price Performance

The company has a current ratio of 1.83, a quick ratio of 1.19 and a debt-to-equity ratio of 0.48. The stock's fifty day moving average is $27.60 and its 200 day moving average is $26.98.

Institutional Investors Weigh In On AngloGold Ashanti

Institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in shares of AngloGold Ashanti by 0.4% during the third quarter. Van ECK Associates Corp now owns 22,920,684 shares of the mining company's stock valued at $610,378,000 after acquiring an additional 80,563 shares in the last quarter. Vanguard Group Inc. raised its holdings in AngloGold Ashanti by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 16,808,722 shares of the mining company's stock worth $373,154,000 after purchasing an additional 65,025 shares in the last quarter. FMR LLC lifted its position in shares of AngloGold Ashanti by 39.5% in the 3rd quarter. FMR LLC now owns 10,448,445 shares of the mining company's stock worth $277,968,000 after purchasing an additional 2,957,304 shares during the period. TT International Asset Management LTD boosted its stake in shares of AngloGold Ashanti by 51.3% during the 3rd quarter. TT International Asset Management LTD now owns 2,836,110 shares of the mining company's stock valued at $75,525,000 after purchasing an additional 962,141 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of AngloGold Ashanti by 159.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,251,492 shares of the mining company's stock valued at $33,327,000 after buying an additional 768,363 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.