AngloGold Ashanti (NYSE:AU) Sees Strong Trading Volume – Still a Buy?

AngloGold Ashanti PLC (NYSE:AU) shares saw strong trading volume on Thursday . 3,752,826 shares traded hands during trading, an increase of 23% from the previous session’s volume of 3,043,532 shares.The stock last traded at $84.26 and had previously closed at $92.39.

Wall Street Analyst Weigh In

Several research firms have weighed in on AU. Weiss Ratings raised AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Zacks Research lowered shares of AngloGold Ashanti from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Citigroup lifted their target price on shares of AngloGold Ashanti from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of AngloGold Ashanti from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.33.

AngloGold Ashanti Stock Performance

The company has a quick ratio of 1.98, a current ratio of 2.87 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average price of $105.98 and a two-hundred day moving average price of $86.55. The company has a market capitalization of $41.32 billion, a price-to-earnings ratio of 15.77 and a beta of 0.55.

AngloGold Ashanti (NYSE:AU) last posted its quarterly earnings data on Friday, February 20th. The mining company reported $1.90 EPS for the quarter, meeting analysts’ consensus estimates of $1.90. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.99 billion. AngloGold Ashanti had a return on equity of 29.11% and a net margin of 26.65%. As a group, analysts forecast that AngloGold Ashanti PLC will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.173 per share. This represents a $0.69 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, March 13th. AngloGold Ashanti’s dividend payout ratio (DPR) is currently 133.33%.

Hedge Funds Weigh In On AngloGold Ashanti

Institutional investors have recently modified their holdings of the company. HHM Wealth Advisors LLC purchased a new position in shares of AngloGold Ashanti during the third quarter valued at approximately $25,000. Zions Bancorporation National Association UT purchased a new stake in AngloGold Ashanti in the 4th quarter worth approximately $31,000. UMB Bank n.a. raised its holdings in AngloGold Ashanti by 129.0% in the 3rd quarter. UMB Bank n.a. now owns 490 shares of the mining company’s stock valued at $34,000 after acquiring an additional 276 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in AngloGold Ashanti in the 4th quarter valued at $34,000. Finally, Optimum Investment Advisors purchased a new position in shares of AngloGold Ashanti during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 36.09% of the company’s stock.

About AngloGold Ashanti

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.