AngloGold Ashanti (NYSE:AU) Sees Strong Trading Volume - Here's What Happened

AngloGold Ashanti plc (NYSE:AU - Get Free Report) saw strong trading volume on Wednesday . 1,132,669 shares changed hands during trading, a decline of 42% from the previous session's volume of 1,961,029 shares.The stock last traded at $27.90 and had previously closed at $27.55.

Wall Street Analyst Weigh In

AU has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on AngloGold Ashanti from $32.00 to $37.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. 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. 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 increased their price target on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, AngloGold Ashanti presently has a consensus rating of "Hold" and an average price target of $33.67.

AngloGold Ashanti Stock Up 1.6 %

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 firm has a 50-day simple moving average of $28.72 and a 200 day simple moving average of $26.26.

AngloGold Ashanti (NYSE:AU - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The mining company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.09. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period last year, the business earned $0.17 earnings per share. Sell-side analysts anticipate that AngloGold Ashanti plc will post 2.58 EPS for the current year.

AngloGold Ashanti Increases Dividend

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

Institutional Investors Weigh In On AngloGold Ashanti

A number of institutional investors have recently modified their holdings of AU. CWM LLC grew its holdings in shares of 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 buying an additional 501 shares during the last quarter. GAMMA Investing LLC boosted its stake in AngloGold Ashanti by 108.9% during the 1st quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company's stock valued at $56,000 after purchasing an additional 1,306 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of AngloGold Ashanti by 32.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company's stock worth $79,000 after purchasing an additional 1,032 shares in the last quarter. Blue Trust Inc. raised its stake in shares of AngloGold Ashanti by 338.3% in the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company's stock worth $87,000 after purchasing an additional 2,679 shares during the last quarter. Finally, Toronto Dominion Bank bought a new position in shares of AngloGold Ashanti during the first quarter valued at $118,000. 36.09% of the stock is 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.