AngloGold Ashanti (NYSE:AU) Shares Gap Up – Here’s Why

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 trading hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Scotiabank lifted their price objective on AngloGold Ashanti from $30.00 to $34.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of AngloGold Ashanti in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered their price target 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.00.

AngloGold Ashanti Trading Up 2.7 %

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

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

AngloGold Ashanti Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.69 dividend. This represents a yield of 2.8%. This is an increase from AngloGold Ashanti’s previous semi-annual dividend of $0.22. The ex-dividend date is Friday, March 14th. AngloGold Ashanti’s dividend payout ratio (DPR) is presently 43.13%.

Institutional Investors Weigh In On AngloGold Ashanti

A number of large investors have recently added to or reduced their stakes in AU. Whittier Trust Co. purchased a new stake in shares of AngloGold Ashanti during the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its holdings in AngloGold Ashanti by 210.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company’s stock worth $27,000 after purchasing an additional 796 shares during the period. Hara Capital LLC purchased a new position in AngloGold Ashanti during the fourth quarter valued at $29,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of AngloGold Ashanti during the 4th quarter valued at about $32,000. Finally, R Squared Ltd purchased a new stake in AngloGold Ashanti in the 4th quarter worth approximately $36,000. Institutional investors own 36.09% of the company’s stock.

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.