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

AngloGold Ashanti plc (NYSE:AU)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $34.86, but opened at $35.68. AngloGold Ashanti shares last traded at $35.89, with a volume of 336,613 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AU. JPMorgan Chase & Co. cut their price objective on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of AngloGold Ashanti in a research report on Thursday, February 20th. Finally, Scotiabank increased their price target on AngloGold Ashanti from $30.00 to $34.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, AngloGold Ashanti has an average rating of “Hold” and an average target price of $34.00.

AngloGold Ashanti Stock Performance

The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $30.96 and a 200-day moving average of $27.94. The company has a market cap of $15.02 billion, a P/E ratio of 11.18 and a beta of 0.92.

AngloGold Ashanti (NYSE:AU) last posted its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.10). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. As a group, sell-side analysts anticipate that AngloGold Ashanti plc will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.69 per share. This represents a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from AngloGold Ashanti’s previous semi-annual dividend of $0.22. AngloGold Ashanti’s payout ratio is 43.13%.

Hedge Funds Weigh In On AngloGold Ashanti

Several institutional investors and hedge funds have recently bought and sold shares of the company. Whittier Trust Co. purchased a new stake in shares of AngloGold Ashanti during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its holdings in AngloGold Ashanti by 210.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company’s stock worth $27,000 after acquiring an additional 796 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of AngloGold Ashanti during the fourth quarter worth about $29,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of AngloGold Ashanti during the fourth quarter valued at about $32,000. Finally, R Squared Ltd purchased a new position in shares of AngloGold Ashanti in the 4th quarter valued at approximately $36,000. 36.09% of the stock is owned by hedge funds and other institutional investors.

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.