AngloGold Ashanti Ltd. (AU) Sees Significant Growth in Short Interest
AngloGold Ashanti Ltd. (NYSE:AU) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,864,471 shares, an increase of 62.4% from the September 15th total of 1,148,018 shares. Based on an average daily volume of 3,598,612 shares, the days-to-cover ratio is presently 0.5 days.
A number of hedge funds have recently bought and sold shares of AU. Seven Eight Capital LLC boosted its stake in AngloGold Ashanti by 40.7% in the first quarter. Seven Eight Capital LLC now owns 7,600 shares of the mining company’s stock worth $104,000 after buying an additional 2,200 shares during the period. Invictus RG purchased a new stake in AngloGold Ashanti during the second quarter worth approximately $154,000. Principal Financial Group Inc. purchased a new stake in AngloGold Ashanti during the second quarter worth approximately $186,000. Bailard Inc. boosted its stake in AngloGold Ashanti by 9.2% in the second quarter. Bailard Inc. now owns 13,106 shares of the mining company’s stock worth $237,000 after buying an additional 1,106 shares during the period. Finally, Stifel Financial Corp boosted its stake in AngloGold Ashanti by 17.8% in the second quarter. Stifel Financial Corp now owns 14,717 shares of the mining company’s stock worth $267,000 after buying an additional 2,227 shares during the period. Institutional investors own 39.88% of the company’s stock.
Shares of AngloGold Ashanti (NYSE:AU) opened at 13.36 on Tuesday. AngloGold Ashanti has a 12 month low of $6.20 and a 12 month high of $22.91. The company has a market cap of $5.45 billion, a P/E ratio of 49.85 and a beta of -0.93. The stock’s 50 day moving average price is $15.50 and its 200-day moving average price is $16.84.
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Several brokerages have commented on AU. Zacks Investment Research upgraded AngloGold Ashanti from a “strong sell” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, July 12th. Citigroup Inc. restated a “sell” rating on shares of AngloGold Ashanti in a research note on Thursday, August 18th. Deutsche Bank AG downgraded AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, Jefferies Group restated a “buy” rating on shares of AngloGold Ashanti in a research note on Tuesday, August 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $47.00.
AngloGold Ashanti Company Profile
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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