AngloGold Ashanti (NYSE:AU) Sees Large Volume Increase – Here’s Why

AngloGold Ashanti PLC (NYSE:AU) shares saw an uptick in trading volume on Thursday . 3,752,826 shares were traded during mid-day trading, an increase of 23% from the previous session’s volume of 3,043,532 shares.The stock last traded at $84.26 and had previously closed at $92.39.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on AngloGold Ashanti from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. Weiss Ratings raised AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 12th. Roth Mkm restated a “buy” rating and set a $122.00 target price on shares of AngloGold Ashanti in a research report on Friday, February 20th. Citigroup lifted their target price on AngloGold Ashanti from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, Wall Street Zen raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, AngloGold Ashanti currently has an average rating of “Moderate Buy” and an average target price of $100.50.

AngloGold Ashanti Trading Down 9.6%

The firm’s 50 day simple moving average is $106.30 and its two-hundred day simple moving average is $86.38. The stock has a market capitalization of $42.17 billion, a P/E ratio of 16.12 and a beta of 0.55. The company has a quick ratio of 1.98, a current ratio of 2.87 and a debt-to-equity ratio of 0.20.

AngloGold Ashanti (NYSE:AU) last released its quarterly earnings data on Friday, February 20th. The mining company reported $1.90 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.90. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.99 billion. AngloGold Ashanti had a net margin of 26.65% and a return on equity of 29.11%. As a group, analysts forecast that AngloGold Ashanti PLC will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.173 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.69 annualized dividend and a yield of 0.8%. AngloGold Ashanti’s dividend payout ratio is presently 133.33%.

Hedge Funds Weigh In On AngloGold Ashanti

A number of institutional investors have recently modified their holdings of AU. HHM Wealth Advisors LLC bought a new position in shares of AngloGold Ashanti in the 3rd quarter worth $25,000. Zions Bancorporation National Association UT acquired a new position in AngloGold Ashanti during the fourth quarter worth $31,000. UMB Bank n.a. raised its holdings in AngloGold Ashanti by 129.0% during the third quarter. UMB Bank n.a. now owns 490 shares of the mining company’s stock worth $34,000 after buying an additional 276 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of AngloGold Ashanti in the fourth quarter valued at $34,000. Finally, Optimum Investment Advisors bought a new position in shares of AngloGold Ashanti in the third quarter valued at $35,000. 36.09% of the stock is owned by institutional investors and hedge funds.

About AngloGold Ashanti

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.