AngloGold Ashanti (NYSE:AU – Get Free Report) announced its earnings results on Thursday. The mining company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.22), FiscalAI reports. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.89 billion. AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%.
AngloGold Ashanti Trading Up 5.0%
AU stock traded up $4.40 during mid-day trading on Friday, reaching $92.96. 3,510,141 shares of the stock traded hands, compared to its average volume of 2,346,659. The company has a current ratio of 2.71, a quick ratio of 2.07 and a debt-to-equity ratio of 0.15. AngloGold Ashanti has a 52-week low of $67.82 and a 52-week high of $129.14. The company has a market cap of $46.94 billion, a P/E ratio of 10.65 and a beta of 0.72. The stock’s fifty day moving average is $95.71 and its 200-day moving average is $96.52.
AngloGold Ashanti Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 27th will be issued a dividend of $0.1250 per share. This represents a $0.50 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, November 27th. This is a drop from AngloGold Ashanti’s previous quarterly dividend of $0.72. AngloGold Ashanti’s dividend payout ratio is presently 6.70%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Royal Bank Of Canada boosted their price objective on AngloGold Ashanti from $111.00 to $119.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. RBC Dominion Securities set a $110.00 target price on AngloGold Ashanti and gave the stock an “outperform” rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. dropped their price target on shares of AngloGold Ashanti from $139.00 to $138.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. BMO Capital Markets downgraded shares of AngloGold Ashanti from an “outperform” rating to a “market perform” rating and set a $115.00 price target for the company. in a report on Thursday, September 10th. Finally, Freedom Broker upped their price target on shares of AngloGold Ashanti from $107.00 to $111.50 and gave the company a “buy” rating in a report on Thursday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, AngloGold Ashanti presently has an average rating of “Buy” and a consensus target price of $118.35.
Check Out Our Latest Research Report on AU
AngloGold Ashanti News Roundup
Here are the key news stories impacting AngloGold Ashanti this week:
- Positive Sentiment: AngloGold plans to invest about $900 million in mine expansions to increase production by 2030. The spending targets existing operations and offers a potential longer-term production-growth catalyst. Article: AngloGold plans $900 million mine expansion amid stronger profit
- Positive Sentiment: Third-quarter profit rose 18%, and coverage of the earnings call highlighted strong free cash flow, providing some support despite weaker production. Article: AngloGold Profit Up 18% as Gold Output Slips
- Negative Sentiment: Quarterly results fell short of expectations: EPS was $1.54 versus the $1.76 consensus, while revenue of $2.62 billion was below the $2.89 billion forecast. Gold output also slipped, tempering the profit growth.
- Negative Sentiment: The company declared a quarterly dividend of $0.125 per share, an 82.6% reduction from the prior $0.72 payment. The lower payout may weigh on income-focused investors.
AngloGold Ashanti Company Profile
AngloGold Ashanti is a global gold mining company that explores for, develops and operates gold mines. Gold is its primary product, and the company also produces silver and other by-products at some operations.
The company’s operations and projects span Africa, Australia and the Americas. Its portfolio includes mines and development projects in countries such as Ghana, Tanzania, Guinea, Australia, Brazil and Argentina.
AngloGold Ashanti was formed in 1998 through the consolidation of gold mining interests held by Anglo American in South Africa.
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