The stock of AngloGold Ashanti Limited (NYSE:AU) is now priced at $29.15 and the shares are -0.36 points down or -1.22% lower compared to its previous closing price of $29.51. The stock had 1.862 million contracts set over the past session. AU shares’ daily volume is compared to its average trading volume at 3.343 million shares. However, it has a float of 413 million and although its performance was 2.71% over the week, it’s one to watch. Analysts have given the AU stock a yearly average price target of $36.48 per share. It means the stock’s upside potential is 25.15% with the AU share price recently placing at $28.8 to $30.43. However, some brokerage firms have priced the stock below the average, including one that has called $23.89.
The shorts are running away from the AngloGold Ashanti Limited stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the AU shares have declined. Short interest in the stock represents just 0.79% of its float, but the volume has dropped by 0.
In the last trading session, AngloGold Ashanti Limited (NYSE:AU) raised by $0.77 over the week and lost -$3.61 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $38.5. The stock recorded its established 52-week high on 07/27/20.
Since 03/16/20, the stock has traded to a low of $12.66 at 130.25%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.44. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, AngloGold Ashanti Limited’s two-week RSI is 47.44. This suggests that the stock is neutral at the moment and that AU shares’ price movement remains stable. The stochastic readings are equally revealing at 64.75% meaning the AU share price is currently in neutral territory.
The technical chart shows that the AU stock will likely settle at between $30.12 and $31.09 per share. However, if the stock dips below $28.49, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $27.83.
Currently, the stock is trading in the green of MACD, with a reading of 0.69. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at BMO Capital Markets cut their recommendation for AU from Outperform to Market Perform in July 31 review. Deutsche Bank analysts see the stock as a Buy in a flash note released to investors on June 17 initiating covering the stock. BofA/Merrill seeing the improvements upgraded the stock from Underperform to Neutral on April 21.
The average rating for the AU equity is 2.4 and is currently gathering a bullish momentum. Of 6 analysts tracking AngloGold Ashanti Limited polled by Reuters, 3 rated AU as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the AU stock price is 7.92X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 19.8 below the group’s average of 23.7. AngloGold Ashanti Limited has its P/E ratio at 4, which means that the stock is currently trading at a premium relative to the 2.7 industry average.