AngloGold Ashanti plc (NYSE:AU) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of AngloGold Ashanti plc (NYSE:AU) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $43.08.

AU has been the topic of several analyst reports. Roth Capital initiated coverage on shares of AngloGold Ashanti in a research note on Thursday. They set a “buy” rating and a $52.00 price target on the stock. Wall Street Zen cut shares of AngloGold Ashanti from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 1st. JPMorgan Chase & Co. lifted their price target on shares of AngloGold Ashanti from $33.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Scotiabank lifted their price target on shares of AngloGold Ashanti from $42.00 to $43.50 and gave the stock a “sector perform” rating in a research note on Monday, May 12th. Finally, HSBC reiterated a “reduce” rating and set a $35.00 price target on shares of AngloGold Ashanti in a research note on Thursday, April 17th.

Institutional Trading of AngloGold Ashanti

Hedge funds have recently bought and sold shares of the stock. abrdn plc bought a new stake in shares of AngloGold Ashanti in the 4th quarter worth about $843,000. Savant Capital LLC bought a new stake in shares of AngloGold Ashanti in the 4th quarter worth about $254,000. Aubrey Capital Management Ltd bought a new stake in shares of AngloGold Ashanti in the 4th quarter worth about $1,163,000. Cigna Investments Inc. New increased its holdings in shares of AngloGold Ashanti by 17.0% in the 4th quarter. Cigna Investments Inc. New now owns 9,581 shares of the mining company’s stock worth $214,000 after buying an additional 1,390 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of AngloGold Ashanti by 13.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 308,991 shares of the mining company’s stock worth $7,132,000 after buying an additional 35,500 shares during the last quarter. Hedge funds and other institutional investors own 36.09% of the company’s stock.

AngloGold Ashanti Trading Up 4.3%

NYSE:AU opened at $50.90 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. AngloGold Ashanti has a 12 month low of $22.34 and a 12 month high of $51.11. The company has a market cap of $21.37 billion, a PE ratio of 16.74 and a beta of 0.49. The company has a 50 day simple moving average of $42.84 and a two-hundred day simple moving average of $33.92.

AngloGold Ashanti (NYSE:AU) last posted its earnings results on Friday, May 9th. The mining company reported $0.88 EPS for the quarter. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.84 billion. Research analysts forecast that AngloGold Ashanti will post 3.83 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a $0.125 dividend. This represents a yield of 1.14%. The ex-dividend date was Friday, May 30th. AngloGold Ashanti’s payout ratio is currently 16.45%.

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.