AngloGold Ashanti (NYSE:AU) Shares Gap Up to $23.12

AngloGold Ashanti plc (NYSE:AU) shares gapped up before the market opened on Monday . The stock had previously closed at $23.12, but opened at $23.86. AngloGold Ashanti shares last traded at $24.14, with a volume of 306,517 shares traded.

Wall Street Analyst Weigh In

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

AngloGold Ashanti Price Performance

The stock has a 50-day moving average price of $22.42 and a 200 day moving average price of $19.46.

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 issued a dividend of $0.19 per share. This is a positive change from AngloGold Ashanti’s previous semi-annual dividend of $0.03. This represents a dividend yield of 1.1%. The ex-dividend date was Thursday, March 14th.

Hedge Funds Weigh In On AngloGold Ashanti

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in AngloGold Ashanti by 3,511.9% during the third quarter. Bank of New York Mellon Corp now owns 597,775 shares of the mining company’s stock valued at $9,445,000 after buying an additional 581,225 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AngloGold Ashanti by 6,946.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 199,914 shares of the mining company’s stock valued at $3,159,000 after purchasing an additional 197,077 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of AngloGold Ashanti by 53.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,093,194 shares of the mining company’s stock valued at $17,272,000 after acquiring an additional 380,343 shares in the last quarter. Gradient Investments LLC increased its holdings in AngloGold Ashanti by 187.9% during the 3rd quarter. Gradient Investments LLC now owns 3,677 shares of the mining company’s stock worth $58,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of AngloGold Ashanti by 576.2% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 318,594 shares of the mining company’s stock valued at $5,123,000 after purchasing an additional 271,480 shares in the last quarter. 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.