AngloGold Ashanti (NYSE:AU) Shares Up 5.5% - Time to Buy?

AngloGold Ashanti plc (NYSE:AU - Get Free Report) traded up 5.5% on Tuesday . The stock traded as high as $24.90 and last traded at $24.82. 925,334 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 1,687,330 shares. The stock had previously closed at $23.53.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Scotiabank raised shares of AngloGold Ashanti from a "sector underperform" rating to a "sector perform" rating and set a $30.00 price objective for the company in a research report on Thursday, November 21st. JPMorgan Chase & Co. dropped 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 note on Friday, December 6th. Royal Bank of Canada raised shares of AngloGold Ashanti from a "sector perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a research report on Tuesday, December 3rd. Investec raised AngloGold Ashanti from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. Finally, StockNews.com downgraded AngloGold Ashanti from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, AngloGold Ashanti has a consensus rating of "Hold" and an average price target of $31.75.

AngloGold Ashanti Trading Up 3.8 %

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.14 and a current ratio of 1.73. The company has a market cap of $10.25 billion, a P/E ratio of 7.63 and a beta of 0.94. The business has a fifty day simple moving average of $25.09 and a 200 day simple moving average of $27.15.

Institutional Trading of AngloGold Ashanti

Hedge funds have recently added to or reduced their stakes in the business. Chesapeake Capital Corp IL boosted its stake in shares of AngloGold Ashanti by 3.1% during the 2nd quarter. Chesapeake Capital Corp IL now owns 14,100 shares of the mining company's stock worth $354,000 after acquiring an additional 429 shares in the last quarter. US Bancorp DE boosted its position in shares of AngloGold Ashanti by 1.0% in the 3rd quarter. US Bancorp DE now owns 47,103 shares of the mining company's stock valued at $1,254,000 after purchasing an additional 466 shares during the period. Sei Investments Co. raised its holdings in AngloGold Ashanti by 1.0% during the 2nd quarter. Sei Investments Co. now owns 64,843 shares of the mining company's stock worth $1,630,000 after buying an additional 656 shares during the period. Ballentine Partners LLC raised its holdings in AngloGold Ashanti by 5.9% during the 2nd quarter. Ballentine Partners LLC now owns 12,279 shares of the mining company's stock worth $309,000 after buying an additional 682 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in AngloGold Ashanti by 6.1% during the third quarter. Quantinno Capital Management LP now owns 26,080 shares of the mining company's stock valued at $695,000 after buying an additional 1,508 shares in the last quarter. Institutional investors own 36.09% of the company's stock.

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.