AngloGold Ashanti (NYSE:AU) Shares Gap Up - Here's Why

AngloGold Ashanti plc (NYSE:AU - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $28.00, but opened at $28.88. AngloGold Ashanti shares last traded at $29.01, with a volume of 1,132,610 shares changing hands.

Analysts Set New Price Targets

Several analysts recently commented on AU shares. JPMorgan Chase & Co. boosted their price target on AngloGold Ashanti from $32.00 to $37.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Scotiabank reiterated 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. StockNews.com upgraded shares of AngloGold Ashanti from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets upped their price objective on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $33.67.

AngloGold Ashanti Stock Performance

The firm has a fifty day moving average price of $28.73 and a 200 day moving average price of $26.27. 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 posted its quarterly earnings results on Tuesday, August 6th. The mining company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.09. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period last year, the company earned $0.17 EPS. Sell-side analysts expect that AngloGold Ashanti plc will post 2.58 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a yield of 0.7%. This is an increase from AngloGold Ashanti's previous Semi-Annual dividend of $0.19.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in AngloGold Ashanti by 7.6% during the first quarter. Van ECK Associates Corp now owns 27,747,289 shares of the mining company's stock worth $615,990,000 after purchasing an additional 1,948,322 shares in the last quarter. Vanguard Group Inc. grew its position 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 valued at $373,154,000 after acquiring an additional 65,025 shares in the last quarter. Russell Investments Group Ltd. increased its stake in AngloGold Ashanti by 5.6% during the first quarter. Russell Investments Group Ltd. now owns 3,396,216 shares of the mining company's stock worth $75,396,000 after purchasing an additional 181,081 shares during the period. Coronation Fund Managers Ltd. lifted its position in shares of AngloGold Ashanti by 24.3% during the first quarter. Coronation Fund Managers Ltd. now owns 2,201,551 shares of the mining company's stock worth $48,874,000 after purchasing an additional 431,025 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of AngloGold Ashanti by 23.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,032,491 shares of the mining company's stock valued at $37,987,000 after purchasing an additional 379,701 shares during the period. Institutional investors and hedge funds 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.