Short Interest in AngloGold Ashanti plc (NYSE:AU) Increases By 12.6%

by · The Markets Daily

AngloGold Ashanti plc (NYSE:AU – Get Free Report) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 8,330,000 shares, an increase of 12.6% from the September 30th total of 7,400,000 shares. Based on an average daily trading volume, of 2,010,000 shares, the days-to-cover ratio is currently 4.1 days.

Hedge Funds Weigh In On AngloGold Ashanti

Hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp bought a new stake in AngloGold Ashanti in the first quarter worth approximately $596,000. Frank Rimerman Advisors LLC bought a new stake in AngloGold Ashanti in the second quarter worth approximately $2,002,000. Russell Investments Group Ltd. increased its holdings in AngloGold Ashanti by 5.6% in 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 in the last quarter. US Bancorp DE increased its holdings in AngloGold Ashanti by 748.1% in the first quarter. US Bancorp DE now owns 45,142 shares of the mining company’s stock worth $1,002,000 after purchasing an additional 39,819 shares in the last quarter. Finally, Oaktree Fund Advisors LLC increased its holdings in AngloGold Ashanti by 10.5% in the second quarter. Oaktree Fund Advisors LLC now owns 683,604 shares of the mining company’s stock worth $17,179,000 after purchasing an additional 64,993 shares in the last quarter. 36.09% of the stock is currently owned by institutional investors.

AngloGold Ashanti Stock Performance

Shares of AU stock traded down $0.83 on Thursday, hitting $27.80. The company had a trading volume of 2,614,661 shares, compared to its average volume of 2,010,123. AngloGold Ashanti has a twelve month low of $15.60 and a twelve month high of $32.57. 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 stock’s 50-day moving average is $28.46 and its two-hundred day moving average is $26.73.

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

AngloGold Ashanti Increases Dividend

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

Analysts Set New Price Targets

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

View Our Latest Report on AU

About AngloGold Ashanti

(Get Free Report)

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.

Read More