AngloGold Ashanti (NYSE:AU) Shares Gap Down to $31.47

AngloGold Ashanti plc (NYSE:AU)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $31.47, but opened at $30.82. AngloGold Ashanti shares last traded at $31.09, with a volume of 218,157 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AU. JPMorgan Chase & Co. decreased their price objective on shares of AngloGold Ashanti from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, July 3rd. StockNews.com raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. BMO Capital Markets upped their price objective on AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Scotiabank reissued a “sector underperform” rating and set a $30.00 price objective (up from $27.00) on shares of AngloGold Ashanti in a report on Monday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.50.

AngloGold Ashanti Stock Down 0.3 %

The stock’s fifty day moving average price is $26.86 and its 200-day moving average price is $23.66.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings results on Tuesday, August 6th. The mining company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.09. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Sell-side analysts predict that AngloGold Ashanti plc will post 2.39 EPS for the current fiscal year.

AngloGold Ashanti Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from AngloGold Ashanti’s previous Semi-Annual dividend of $0.19. This represents a yield of 0.7%.

Institutional Trading of AngloGold Ashanti

Several institutional investors and hedge funds have recently added to or reduced their stakes in AU. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of AngloGold Ashanti during the 1st quarter worth about $596,000. Allianz Asset Management GmbH grew its position in AngloGold Ashanti by 52.8% in the fourth quarter. Allianz Asset Management GmbH now owns 1,424,939 shares of the mining company’s stock valued at $26,632,000 after acquiring an additional 492,358 shares during the last quarter. Oaktree Capital Management LP raised its stake in AngloGold Ashanti by 8.2% during the fourth quarter. Oaktree Capital Management LP now owns 5,874,951 shares of the mining company’s stock worth $109,803,000 after acquiring an additional 446,132 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of AngloGold Ashanti by 5.6% in the first quarter. Russell Investments Group Ltd. now owns 3,396,216 shares of the mining company’s stock worth $75,396,000 after acquiring an additional 181,081 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in shares of AngloGold Ashanti in the 4th quarter valued at approximately $1,443,000. 36.09% of the stock is owned by 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.