AngloGold Ashanti (NYSE:AU) Shares Gap Down – What’s Next?

AngloGold Ashanti PLC (NYSE:AUGet Free Report)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $108.53, but opened at $102.56. AngloGold Ashanti shares last traded at $104.1730, with a volume of 397,073 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on AngloGold Ashanti from $155.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Freedom Capital upgraded AngloGold Ashanti to a “strong-buy” rating in a research report on Friday, June 26th. BMO Capital Markets downgraded AngloGold Ashanti from an “outperform” rating to a “market perform” rating and set a $115.00 target price for the company. in a report on Thursday. Royal Bank Of Canada cut their price target on shares of AngloGold Ashanti from $114.00 to $111.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Scotiabank reduced their price objective on shares of AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.14.

Check Out Our Latest Report on AngloGold Ashanti

AngloGold Ashanti Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.07. The firm has a market cap of $52.76 billion, a PE ratio of 14.01 and a beta of 0.74. The firm has a 50-day simple moving average of $94.65 and a 200 day simple moving average of $96.22.

AngloGold Ashanti (NYSE:AUGet Free Report) last released its earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%.The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.20 billion. As a group, equities analysts expect that AngloGold Ashanti PLC will post 8.14 EPS for the current year.

AngloGold Ashanti Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were paid a dividend of $0.72 per share. The ex-dividend date was Friday, August 21st. This represents a $2.88 dividend on an annualized basis and a yield of 2.8%. AngloGold Ashanti’s payout ratio is presently 6.70%.

Hedge Funds Weigh In On AngloGold Ashanti

Several large investors have recently modified their holdings of the stock. Ascentis Independent Advisors purchased a new stake in AngloGold Ashanti during the 1st quarter valued at about $26,000. Zions Bancorporation National Association UT bought a new position in shares of AngloGold Ashanti in the fourth quarter worth approximately $31,000. Ancora Advisors LLC bought a new position in shares of AngloGold Ashanti in the second quarter worth approximately $30,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of AngloGold Ashanti during the fourth quarter valued at approximately $34,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of AngloGold Ashanti during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 36.09% of the company’s stock.

About AngloGold Ashanti

(Get Free Report)

AngloGold Ashanti plc is a global gold mining company that explores for, develops, and operates gold mines. Its primary product is gold, with silver and other minerals produced as byproducts at some operations. The company also manages mineral exploration, mine development, processing, and related reclamation activities.

AngloGold Ashanti operates across several regions, including Africa, Australia, and the Americas. Its portfolio has included mines and projects in Ghana, Guinea, Tanzania, Australia, Brazil, and Argentina, supported by exploration programs in other prospective mining jurisdictions.

Further Reading

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