AngloGold Ashanti (NYSE:AU) Shares Up 5.7% – What’s Next?

AngloGold Ashanti PLC (NYSE:AUGet Free Report)’s share price was up 5.7% during trading on Friday . The company traded as high as $114.67 and last traded at $113.8070. Approximately 2,415,017 shares were traded during trading, a decline of 16% from the average daily volume of 2,886,812 shares. The stock had previously closed at $107.63.

Key Stories Impacting AngloGold Ashanti

Here are the key news stories impacting AngloGold Ashanti this week:

Wall Street Analysts Forecast Growth

AU has been the subject of several analyst reports. Wall Street Zen upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Roth Mkm reaffirmed a “buy” rating and set a $122.00 price objective on shares of AngloGold Ashanti in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of AngloGold Ashanti from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. Citigroup raised their price target on AngloGold Ashanti from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AngloGold Ashanti in a report on Wednesday, January 21st. One 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Get Our Latest Stock Analysis on AU

AngloGold Ashanti Price Performance

The stock’s 50-day moving average is $97.16 and its 200 day moving average is $78.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.98 and a current ratio of 2.58. The stock has a market capitalization of $57.75 billion, a PE ratio of 25.19 and a beta of 0.59.

AngloGold Ashanti (NYSE:AUGet Free Report) last announced its quarterly earnings results on Friday, February 20th. The mining company reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.22). The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.99 billion. AngloGold Ashanti had a net margin of 26.25% and a return on equity of 24.01%. As a group, equities analysts expect that AngloGold Ashanti PLC will post 3.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. acquired a new stake in shares of AngloGold Ashanti in the fourth quarter valued at approximately $36,000. Compound Planning Inc. raised its position in AngloGold Ashanti by 4.5% in the 4th quarter. Compound Planning Inc. now owns 17,386 shares of the mining company’s stock valued at $1,483,000 after purchasing an additional 741 shares during the last quarter. Invesco Ltd. boosted its stake in AngloGold Ashanti by 4.5% during the 4th quarter. Invesco Ltd. now owns 2,791,584 shares of the mining company’s stock worth $238,066,000 after purchasing an additional 119,355 shares during the period. Corient Private Wealth LLC grew its position in AngloGold Ashanti by 28.0% during the 4th quarter. Corient Private Wealth LLC now owns 22,070 shares of the mining company’s stock worth $1,857,000 after purchasing an additional 4,825 shares during the last quarter. Finally, Alberta Investment Management Corp grew its position in AngloGold Ashanti by 14.4% during the 4th quarter. Alberta Investment Management Corp now owns 25,400 shares of the mining company’s stock worth $2,197,000 after purchasing an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 36.09% of the company’s stock.

About AngloGold Ashanti

(Get Free Report)

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.

Further Reading

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