AngloGold Ashanti (NYSE:AU) Sets New 12-Month High – What’s Next?

AngloGold Ashanti PLC (NYSE:AU)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $129.14 and last traded at $127.6510, with a volume of 1065585 shares trading hands. The stock had previously closed at $127.77.

Analyst Ratings Changes

Several analysts have weighed in on AU shares. Weiss Ratings cut shares of AngloGold Ashanti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 25th. Roth Mkm reiterated a “buy” rating and issued a $122.00 price target on shares of AngloGold Ashanti in a research report on Friday, February 20th. 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 research report on Wednesday, December 3rd. Scotiabank reaffirmed an “outperform” rating on shares of AngloGold Ashanti in a report on Wednesday, February 25th. Finally, Wall Street Zen upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.50.

AngloGold Ashanti Trading Down 10.3%

The firm’s 50-day simple moving average is $103.05 and its 200 day simple moving average is $82.84. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.58 and a quick ratio of 1.98. The firm has a market capitalization of $58.07 billion, a price-to-earnings ratio of 22.16 and a beta of 0.55.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings results on Friday, February 20th. The mining company reported $1.90 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.90. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.99 billion. AngloGold Ashanti had a return on equity of 29.70% and a net margin of 26.65%. Equities analysts expect that AngloGold Ashanti PLC will post 3.83 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.173 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, March 13th. AngloGold Ashanti’s dividend payout ratio (DPR) is presently 70.13%.

Hedge Funds Weigh In On AngloGold Ashanti

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ninety One SA Pty Ltd bought a new stake in shares of AngloGold Ashanti during the fourth quarter worth $1,380,472,000. Arrowstreet Capital Limited Partnership grew its position in AngloGold Ashanti by 406.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,288,253 shares of the mining company’s stock worth $539,119,000 after acquiring an additional 5,047,686 shares during the last quarter. Norges Bank bought a new stake in AngloGold Ashanti during the 4th quarter worth $426,477,000. State Street Corp increased its holdings in AngloGold Ashanti by 1,175.7% in the 2nd quarter. State Street Corp now owns 4,967,173 shares of the mining company’s stock worth $226,354,000 after purchasing an additional 4,577,807 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in AngloGold Ashanti by 1,767.5% in the second quarter. Acadian Asset Management LLC now owns 2,788,123 shares of the mining company’s stock valued at $127,027,000 after purchasing an additional 2,638,823 shares during the last quarter. Institutional investors own 36.09% of the company’s stock.

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.