Analysts Set AngloGold Ashanti plc (NYSE:AU) Target Price at $24.25

Shares of AngloGold Ashanti plc (NYSE:AU) have been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $24.25.

Several equities research analysts recently issued reports on AU shares. JPMorgan Chase & Co. raised their target price on shares of AngloGold Ashanti from $23.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. HSBC downgraded AngloGold Ashanti from a “hold” rating to a “reduce” rating in a report on Friday, April 19th. Finally, StockNews.com raised AngloGold Ashanti from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd.

AngloGold Ashanti Price Performance

NYSE AU opened at $23.12 on Friday. AngloGold Ashanti has a fifty-two week low of $14.91 and a fifty-two week high of $30.26. The business has a fifty day moving average of $22.21 and a 200-day moving average of $19.40.

AngloGold Ashanti Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.19 dividend. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from AngloGold Ashanti’s previous semi-annual dividend of $0.03.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds and other institutional investors have recently made changes to their positions in AU. CWM LLC boosted its holdings in shares of AngloGold Ashanti by 36.1% in the first quarter. CWM LLC now owns 1,890 shares of the mining company’s stock valued at $42,000 after acquiring an additional 501 shares in the last quarter. GAMMA Investing LLC boosted its stake in AngloGold Ashanti by 108.9% during the first quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock valued at $56,000 after buying an additional 1,306 shares in the last quarter. Gradient Investments LLC grew its holdings in AngloGold Ashanti by 187.9% during the third quarter. Gradient Investments LLC now owns 3,677 shares of the mining company’s stock worth $58,000 after acquiring an additional 2,400 shares during the period. Blue Trust Inc. raised its position in AngloGold Ashanti by 132.0% in the fourth quarter. Blue Trust Inc. now owns 4,023 shares of the mining company’s stock worth $75,000 after acquiring an additional 2,289 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of AngloGold Ashanti by 32.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company’s stock valued at $79,000 after purchasing an additional 1,032 shares in the last quarter. 36.09% of the stock is currently owned by institutional investors and hedge funds.

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.