AngloGold Ashanti (NYSE:AU) Sets New 12-Month High at $30.16

AngloGold Ashanti plc (NYSE:AU) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $30.16 and last traded at $29.40, with a volume of 183483 shares. The stock had previously closed at $29.73.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AU. StockNews.com upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets boosted their price objective on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of AngloGold Ashanti from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 3rd. Scotiabank raised their target price on AngloGold Ashanti from $22.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Finally, HSBC cut AngloGold Ashanti from a “hold” rating to a “reduce” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.50.

AngloGold Ashanti Price Performance

The business’s 50-day moving average price is $26.06 and its 200-day moving average price is $23.02.

AngloGold Ashanti (NYSE:AU) last released its earnings results on Tuesday, August 6th. The mining company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm earned $0.17 EPS. As a group, research analysts forecast that AngloGold Ashanti plc will post 2.29 earnings per share for the current year.

AngloGold Ashanti Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.22 dividend. This represents a yield of 0.7%. This is a boost from AngloGold Ashanti’s previous Semi-Annual dividend of $0.19. The ex-dividend date of this dividend is Friday, August 30th.

Institutional Trading of AngloGold Ashanti

Large investors have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of AngloGold Ashanti in the first quarter worth $596,000. Allianz Asset Management GmbH lifted its stake in shares of AngloGold Ashanti by 52.8% in the 4th quarter. Allianz Asset Management GmbH now owns 1,424,939 shares of the mining company’s stock worth $26,632,000 after acquiring an additional 492,358 shares during the period. International Assets Investment Management LLC purchased a new position in shares of AngloGold Ashanti during the 4th quarter worth approximately $16,260,000. Oaktree Capital Management LP lifted its holdings in AngloGold Ashanti by 8.2% in the fourth quarter. Oaktree Capital Management LP now owns 5,874,951 shares of the mining company’s stock valued at $109,803,000 after acquiring an additional 446,132 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of AngloGold Ashanti by 5.6% in the 1st quarter. Russell Investments Group Ltd. now owns 3,396,216 shares of the mining company’s stock valued at $75,396,000 after purchasing an additional 181,081 shares in the last quarter. Hedge funds and other institutional investors own 36.09% of the company’s stock.

AngloGold Ashanti Company Profile

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.