AngloGold Ashanti (NYSE:AU) Shares Gap Down to $24.80

AngloGold Ashanti plc (NYSE:AU) shares gapped down prior to trading on Tuesday . The stock had previously closed at $24.80, but opened at $23.21. AngloGold Ashanti shares last traded at $23.32, with a volume of 591,707 shares.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. HSBC downgraded AngloGold Ashanti from a “hold” rating to a “reduce” rating in a research note on Friday, April 19th. StockNews.com raised AngloGold Ashanti from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised their price objective on AngloGold Ashanti from $23.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, AngloGold Ashanti has a consensus rating of “Hold” and a consensus price target of $24.25.

AngloGold Ashanti Trading Down 6.2 %

The business has a fifty day moving average of $21.77 and a 200 day moving average of $19.28.

AngloGold Ashanti Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.19 dividend. This represents a dividend yield of 1.1%. The ex-dividend date was Thursday, March 14th. This is a boost from AngloGold Ashanti’s previous semi-annual dividend of $0.03.

Hedge Funds Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in shares of AngloGold Ashanti during the 4th quarter worth about $16,260,000. Van ECK Associates Corp raised its position in shares of AngloGold Ashanti by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 24,900,771 shares of the mining company’s stock worth $393,432,000 after acquiring an additional 383,360 shares in the last quarter. Swiss National Bank acquired a new stake in shares of AngloGold Ashanti during the 3rd quarter worth about $17,101,000. DekaBank Deutsche Girozentrale increased its position in AngloGold Ashanti by 11.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 55,500 shares of the mining company’s stock worth $899,000 after buying an additional 5,500 shares during the period. Finally, Handelsbanken Fonder AB acquired a new position in AngloGold Ashanti during the fourth quarter worth approximately $1,443,000. Hedge funds and other 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, the Americas, and Australia. 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 project located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.