Connor Clark & Lunn Investment Management Ltd. Increases Position in AngloGold Ashanti plc (NYSE:AU)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of AngloGold Ashanti plc (NYSE:AU) by 95.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 247,292 shares of the mining company’s stock after buying an additional 120,844 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AngloGold Ashanti were worth $6,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. CWM LLC grew its position in shares of AngloGold Ashanti by 26.1% in the second quarter. CWM LLC now owns 2,383 shares of the mining company’s stock valued at $60,000 after purchasing an additional 493 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of AngloGold Ashanti by 17.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock worth $74,000 after acquiring an additional 433 shares during the period. Blue Trust Inc. boosted its position in shares of AngloGold Ashanti by 338.3% in the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock worth $87,000 after acquiring an additional 2,679 shares during the last quarter. SG Americas Securities LLC purchased a new stake in AngloGold Ashanti in the third quarter valued at approximately $126,000. Finally, Toronto Dominion Bank purchased a new position in AngloGold Ashanti during the first quarter worth approximately $118,000. Hedge funds and other institutional investors own 36.09% of the company’s stock.

Wall Street Analyst Weigh In

AU has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on AngloGold Ashanti from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Scotiabank upgraded shares of AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price target on the stock in a report on Thursday. BMO Capital Markets lifted their price target on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Investec raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, StockNews.com lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.67.

AngloGold Ashanti Stock Performance

Shares of NYSE:AU opened at $25.95 on Friday. The company has a 50 day moving average of $27.36 and a two-hundred day moving average of $26.98. AngloGold Ashanti plc has a 52-week low of $15.80 and a 52-week high of $32.57. The company has a quick ratio of 1.19, a current ratio of 1.83 and a debt-to-equity ratio of 0.48.

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.