AngloGold Ashanti (NYSE:AU) Hits New 12-Month High - Should You Buy?

Key Points

• AngloGold Ashanti's share price achieved a new **52-week high** of **$78.88** during trading, closing at **$78.49** with notable volume of **764,905 shares**.
• Several analysts have mixed ratings on the stock, with a consensus **"Hold"** rating and an average price target of **$58.00**, while Roth Capital has a **"Buy"** rating with a target of **$76.00**.
• The company recently **increased its semi-annual dividend** to **$0.80 per share**, yielding **610.0%**, up from the previous **$0.69**.

AngloGold Ashanti PLC (NYSE:AU - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $78.88 and last traded at $78.49, with a volume of 764905 shares changing hands. The stock had previously closed at $75.22.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of AngloGold Ashanti in a research note on Wednesday, October 8th. HSBC reiterated a "reduce" rating and set a $55.00 target price on shares of AngloGold Ashanti in a research note on Thursday, October 9th. JPMorgan Chase & Co. upped their price objective on AngloGold Ashanti from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Roth Capital set a $76.00 price objective on AngloGold Ashanti and gave the company a "buy" rating in a research note on Friday, October 3rd. Finally, Scotiabank restated a "sector perform" rating and set a $55.00 price objective on shares of AngloGold Ashanti in a research note on Monday, August 11th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, AngloGold Ashanti has a consensus rating of "Hold" and an average price target of $58.00.

AngloGold Ashanti Price Performance

The company has a market capitalization of $33.26 billion, a P/E ratio of 21.04 and a beta of 0.53. The company has a fifty day moving average price of $63.49 and a 200 day moving average price of $51.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.22.

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

AngloGold Ashanti Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.80 per share. This represents a dividend yield of 610.0%. This is a boost from AngloGold Ashanti's previous semi-annual dividend of $0.69. The ex-dividend date of this dividend was Friday, August 22nd. AngloGold Ashanti's dividend payout ratio is currently 85.11%.

Hedge Funds Weigh In On AngloGold Ashanti

Several institutional investors have recently made changes to their positions in AU. Rhumbline Advisers grew its holdings in AngloGold Ashanti by 194.3% in the 1st quarter. Rhumbline Advisers now owns 31,619 shares of the mining company's stock worth $1,174,000 after buying an additional 20,874 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in AngloGold Ashanti by 2.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,353 shares of the mining company's stock worth $424,000 after buying an additional 235 shares in the last quarter. Ritholtz Wealth Management bought a new position in AngloGold Ashanti in the 1st quarter worth approximately $238,000. Global Trust Asset Management LLC bought a new position in AngloGold Ashanti in the 1st quarter worth approximately $30,000. Finally, Blue Trust Inc. grew its holdings in AngloGold Ashanti by 185.3% in the 1st quarter. Blue Trust Inc. now owns 4,177 shares of the mining company's stock worth $155,000 after buying an additional 2,713 shares in the last quarter. 36.09% of the stock is 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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