Point72 Asset Management L.P. Acquires Shares of AngloGold Ashanti plc

Point72 Asset Management L.P. has made a significant investment by acquiring a new stake in AngloGold Ashanti plc (NYSE:AU - Free Report) during the third quarter. This acquisition was disclosed in the company's latest 13F filing with the Securities and Exchange Commission. The fund purchased 91,863 shares in this mining company, which amounts to a total investment valued at approximately $2,446,000.

Recent changes among institutional investors indicate growing interest in AngloGold Ashanti. CWM LLC has increased its stake in the company by 26.1% during the previous quarter, bringing its total holdings to 2,383 shares valued at $60,000 after buying an additional 493 shares. Furthermore, Blue Trust Inc. raised its position in AngloGold Ashanti by an impressive 338.3% in the second quarter, now holding 3,471 shares worth $87,000 after purchasing 2,679 more shares. SG Americas Securities LLC also entered the fold with a new investment during the third quarter, valued at around $126,000. Other institutional investors such as Cigna Investments Inc. New and Ritholtz Wealth Management have also made new investments in the firm, with stakes worth approximately $206,000 and $222,000 respectively. Overall, hedge funds and institutional investors now own about 36.09% of AngloGold Ashanti's stock.

Analysts Issue New Price Targets

In the world of stock analysis, various brokerages have recently reviewed AngloGold Ashanti and made updates to their price targets for the shares. JPMorgan Chase & Co. adjusted their target price from $37.00 to $32.00 while maintaining an "overweight" rating on the stock. Scotiabank upgraded their stance on AngloGold Ashanti from "sector underperform" to "sector perform," setting a price objective of $30.00. Similarly, the Royal Bank of Canada upgraded the stock's rating from "sector perform" to "outperform" and set a target price of $31.00. Investec moved from a "hold" to a "buy" rating on the stock, while StockNews.com changed their rating from "buy" to "hold." Currently, the stock has one sell rating, two hold ratings, and four buy ratings, leading to a consensus rating of "Hold" with an average price target of $31.75 according to MarketBeat data.

Market Activity of AngloGold Ashanti Stock

Recently, shares of AngloGold Ashanti opened at $25.51. The stock has shown fluctuations, with a fifty-day simple moving average at $26.69 and a two-hundred-day simple moving average at $27.08. The company's financial health includes a current ratio of 1.73, a quick ratio of 1.14, and a debt-to-equity ratio of 0.46. Over the past year, the stock reached a low of $15.80 and a high of $32.57.

Overview of AngloGold Ashanti plc

AngloGold Ashanti plc is a leading gold mining company with operations spanning across Africa, Australia, and the Americas. The company primarily focuses on gold exploration and production, while also generating by-products like silver and sulphuric acid. Their flagship asset is the Geita mine, located in the Lake Victoria goldfields of Mwanza region in northwestern Tanzania.

Further Insights

For investors wanting in-depth analysis and insights, it is crucial to stay updated on market oscillations and expert opinions regarding AngloGold Ashanti.

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