AngloGold Ashanti (NYSE:AU) Hits New 1-Year High - Time to Buy?

Key Points

• AngloGold Ashanti's share price reached a new 52-week high of $61.42, closing slightly lower at $60.92, indicating strong investor interest.
• Analysts have mixed ratings on AngloGold Ashanti, with four analysts recommending a buy, while Zacks Research downgraded the stock to a "strong sell."
• The company declared a semi-annual dividend of $0.80, reflecting a significant increase from the previous dividend, resulting in a yield of 610.0%.

AngloGold Ashanti PLC (NYSE:AU - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $61.42 and last traded at $60.92, with a volume of 189957 shares changing hands. The stock had previously closed at $59.77.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AU shares. Wall Street Zen lowered AngloGold Ashanti from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Scotiabank reissued a "sector perform" rating and issued a $55.00 target price on shares of AngloGold Ashanti in a report on Monday, August 11th. Roth Capital reissued a "buy" rating on shares of AngloGold Ashanti in a report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on AngloGold Ashanti from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Zacks Research lowered AngloGold Ashanti from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $49.60.

AngloGold Ashanti Stock Up 2.2%

The business has a fifty day moving average of $51.98 and a 200 day moving average of $44.16. The firm has a market cap of $25.63 billion, a P/E ratio of 16.18 and a beta of 0.53. The company has a quick ratio of 2.22, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The mining company reported $1.25 EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($0.06). AngloGold Ashanti had a net margin of 23.60% and a return on equity of 22.54%. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.29 billion. On average, equities research analysts predict that AngloGold Ashanti PLC will post 3.83 EPS for the current year.

AngloGold Ashanti Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a $0.80 dividend. This represents a dividend yield of 610.0%. This is an increase from AngloGold Ashanti's previous semi-annual dividend of $0.69. The ex-dividend date was Friday, August 22nd. AngloGold Ashanti's dividend payout ratio is currently 85.11%.

Institutional Investors Weigh In On AngloGold Ashanti

Several large investors have recently modified their holdings of AU. State Street Corp boosted its position in shares of AngloGold Ashanti by 1,175.7% during the second quarter. State Street Corp now owns 4,967,173 shares of the mining company's stock worth $226,354,000 after buying an additional 4,577,807 shares during the period. Acadian Asset Management LLC boosted its position in AngloGold Ashanti by 1,767.5% during the second quarter. Acadian Asset Management LLC now owns 2,788,123 shares of the mining company's stock valued at $127,027,000 after purchasing an additional 2,638,823 shares during the last quarter. Geode Capital Management LLC boosted its position in AngloGold Ashanti by 274.6% during the second quarter. Geode Capital Management LLC now owns 3,137,721 shares of the mining company's stock valued at $142,986,000 after purchasing an additional 2,300,204 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new position in AngloGold Ashanti during the first quarter valued at approximately $63,186,000. Finally, Norges Bank acquired a new position in AngloGold Ashanti during the second quarter valued at approximately $74,039,000. 36.09% of the stock is currently owned by institutional investors.

About AngloGold Ashanti

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.

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