Short Interest in AngloGold Ashanti Ltd. (AU) Decreases By 26.6%
AngloGold Ashanti Ltd. (NYSE:AU) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 1,148,018 shares, a decline of 26.6% from the August 31st total of 1,564,109 shares. Based on an average daily trading volume, of 4,152,771 shares, the short-interest ratio is presently 0.3 days.
AngloGold Ashanti (NYSE:AU) opened at 15.71 on Tuesday. The company’s 50 day moving average is $17.04 and its 200 day moving average is $16.86. AngloGold Ashanti has a 12-month low of $6.20 and a 12-month high of $22.91. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 58.62 and a beta of -0.93.
Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in shares of AngloGold Ashanti by 44.7% in the first quarter. Renaissance Technologies LLC now owns 3,940,100 shares of the mining company’s stock valued at $53,940,000 after buying an additional 1,217,400 shares during the period. Moore Capital Management LP purchased a new stake in shares of AngloGold Ashanti during the first quarter valued at approximately $2,875,000. Wellington Management Group LLP increased its stake in shares of AngloGold Ashanti by 165.9% in the first quarter. Wellington Management Group LLP now owns 2,797,946 shares of the mining company’s stock valued at $38,304,000 after buying an additional 1,745,858 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of AngloGold Ashanti by 7.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 97,524 shares of the mining company’s stock valued at $1,746,000 after buying an additional 6,896 shares during the period. Finally, Bogle Investment Management L P DE purchased a new stake in shares of AngloGold Ashanti during the first quarter valued at approximately $13,688,000. 39.88% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on AU. Zacks Investment Research raised shares of AngloGold Ashanti from a “strong sell” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, July 12th. Deutsche Bank AG cut shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Citigroup Inc. restated a “sell” rating on shares of AngloGold Ashanti in a report on Thursday, August 18th. Finally, Jefferies Group restated a “buy” rating on shares of AngloGold Ashanti in a report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $47.00.
About AngloGold Ashanti
AngloGold Ashanti Limited (AngloGold Ashanti) is a gold mining company. The Company’s business activities span the spectrum of the mining value chain. Its main product is gold. Its portfolio includes over 17 mines in approximately nine countries. It also produces silver, uranium and sulfuric acid as by-products.
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