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

AngloGold Ashanti plc (NYSE:AU - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $31.45, but opened at $30.33. AngloGold Ashanti shares last traded at $30.61, with a volume of 226,649 shares traded.

Analysts Set New Price Targets

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

AngloGold Ashanti Trading Down 4.2 %

The business has a fifty day simple moving average of $28.77 and a two-hundred day simple moving average of $26.50. The company has a current ratio of 1.83, a quick ratio of 1.19 and a debt-to-equity ratio of 0.48.

AngloGold Ashanti (NYSE:AU - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The mining company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.09. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, analysts expect that AngloGold Ashanti plc will post 2.5 EPS for the current year.

AngloGold Ashanti Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.22 per share. This represents a dividend yield of 0.7%. This is a boost from AngloGold Ashanti's previous Semi-Annual dividend of $0.19. The ex-dividend date of this dividend was Friday, August 30th.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in AngloGold Ashanti by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 16,743,697 shares of the mining company's stock valued at $312,940,000 after acquiring an additional 1,215,741 shares during the period. PNC Financial Services Group Inc. raised its holdings in AngloGold Ashanti by 32.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company's stock valued at $79,000 after acquiring an additional 1,032 shares during the period. CWM LLC raised its holdings in AngloGold Ashanti by 36.1% during the first quarter. CWM LLC now owns 1,890 shares of the mining company's stock valued at $42,000 after acquiring an additional 501 shares during the period. GAMMA Investing LLC raised its holdings 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 period. Finally, Ballentine Partners LLC bought a new stake in AngloGold Ashanti during the first quarter valued at about $257,000. 36.09% of the stock is currently 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.