AngloGold Ashanti (NYSE:AU) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

AngloGold Ashanti (NYSE:AU) released its quarterly earnings results on Tuesday. The mining company reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.02), Zacks reports. AngloGold Ashanti had a return on equity of 22.54% and a net margin of 23.60%.

AngloGold Ashanti Trading Up 4.0%

Shares of NYSE AU traded up $2.99 during mid-day trading on Tuesday, hitting $77.09. The company’s stock had a trading volume of 1,058,591 shares, compared to its average volume of 3,147,537. The stock has a market cap of $32.35 billion, a price-to-earnings ratio of 20.56 and a beta of 0.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.22. AngloGold Ashanti has a one year low of $22.45 and a one year high of $79.94. The company’s fifty day simple moving average is $68.40 and its 200-day simple moving average is $55.10.

Hedge Funds Weigh In On AngloGold Ashanti

Several large investors have recently bought and sold shares of AU. Empowered Funds LLC bought a new stake in shares of AngloGold Ashanti during the 1st quarter valued at $321,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of AngloGold Ashanti by 30.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the mining company’s stock worth $47,000 after purchasing an additional 238 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of AngloGold Ashanti by 106.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,367 shares of the mining company’s stock worth $153,000 after purchasing an additional 1,734 shares during the period. First Trust Advisors LP increased its holdings in AngloGold Ashanti by 88.4% in the second quarter. First Trust Advisors LP now owns 136,543 shares of the mining company’s stock valued at $6,200,000 after purchasing an additional 64,066 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new position in AngloGold Ashanti in the second quarter valued at about $1,740,000. 36.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on AU. Scotiabank raised AngloGold Ashanti from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $55.00 to $90.00 in a research note on Thursday, October 23rd. JPMorgan Chase & Co. increased their price objective on shares of AngloGold Ashanti from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Roth Capital set a $76.00 target price on shares of AngloGold Ashanti and gave the stock a “buy” rating in a research note on Friday, October 3rd. Wall Street Zen lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, HSBC reissued a “reduce” rating and issued a $55.00 price target on shares of AngloGold Ashanti in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.17.

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.