AngloGold Ashanti (NYSE:AU) Shares Gap Down to $28.80

AngloGold Ashanti plc (NYSE:AU)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $28.80, but opened at $27.18. AngloGold Ashanti shares last traded at $26.89, with a volume of 931,318 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. BMO Capital Markets raised their target price on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on AngloGold Ashanti from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Scotiabank reissued a “sector underperform” rating and issued a $30.00 price target (up from $27.00) on shares of AngloGold Ashanti in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, AngloGold Ashanti currently has an average rating of “Hold” and a consensus price target of $28.50.

AngloGold Ashanti Price Performance

The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 8.56 and a beta of 0.98. The company has a fifty day simple moving average of $29.04 and a two-hundred day simple moving average of $25.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.19 and a current ratio of 1.83.

AngloGold Ashanti (NYSE:AU) last released its earnings results on Tuesday, August 6th. The mining company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.09. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the company posted $0.17 earnings per share. As a group, research analysts anticipate that AngloGold Ashanti plc will post 2.39 earnings per share for the current year.

AngloGold Ashanti Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.22 dividend. The ex-dividend date is Friday, August 30th. This is a boost from AngloGold Ashanti’s previous Semi-Annual dividend of $0.19. This represents a dividend yield of 0.7%. AngloGold Ashanti’s dividend payout ratio (DPR) is currently 13.75%.

Institutional Trading of AngloGold Ashanti

Several institutional investors have recently made changes to their positions in the stock. CWM LLC raised its holdings in 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 buying an additional 501 shares during the period. GAMMA Investing LLC raised its stake in shares of AngloGold Ashanti by 108.9% in the 1st quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock valued at $56,000 after acquiring an additional 1,306 shares during the period. PNC Financial Services Group Inc. boosted its position in 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 worth $79,000 after purchasing an additional 1,032 shares during the period. Blue Trust Inc. increased its holdings in AngloGold Ashanti by 338.3% in the 2nd quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock valued at $87,000 after purchasing an additional 2,679 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new position in AngloGold Ashanti in the first quarter valued at about $118,000. 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.