AngloGold Ashanti (NYSE:AU) Sets New 12-Month High - What's Next?

Key Points

• AngloGold Ashanti's stock reached a new 52-week high of $66.65 during mid-day trading, closing at $66.13 with a trading volume of 394,359 shares.
• The company reported a semi-annual dividend of $0.80 per share with a yield of 610.0%, an increase from the previous dividend of $0.69.
• Analysts currently have a consensus rating of "Hold" for the stock, with a consensus target price of $49.60, reflecting mixed sentiments among investment firms.

AngloGold Ashanti PLC (NYSE:AU - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $66.65 and last traded at $66.13, with a volume of 394359 shares. The stock had previously closed at $66.31.

Analyst Ratings Changes

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

AngloGold Ashanti Stock Up 5.0%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.22 and a current ratio of 2.99. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 18.05 and a beta of 0.54. The firm's fifty day simple moving average is $55.70 and its 200 day simple moving average is $46.35.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The mining company reported $1.25 earnings per share (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 business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.29 billion. On average, sell-side analysts forecast 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 was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a $0.80 dividend. 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 was Friday, August 22nd. AngloGold Ashanti's dividend payout ratio is 85.11%.

Institutional Trading of AngloGold Ashanti

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in 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 last quarter. Acadian Asset Management LLC increased its holdings 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 worth $127,027,000 after buying an additional 2,638,823 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 worth $142,986,000 after buying 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 worth $63,186,000. Finally, Norges Bank acquired a new position in AngloGold Ashanti during the second quarter worth $74,039,000. 36.09% of the stock is currently owned by institutional investors and hedge funds.

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.