AngloGold Ashanti (NYSE:AU) Reaches New 12-Month High - Here's What Happened

Key Points

• AngloGold Ashanti shares reached a new 52-week high, trading as high as $77.71 and closing at $76.23 with a trading volume of 541,318 shares.
• The company declared a semi-annual dividend of $0.80 per share, representing a yield of 610.0%, up from the previous dividend of $0.69.
• Analysts have varying ratings on the stock, with four giving a "Buy" rating, three a "Hold" rating, and one a "Sell" rating, contributing to an average rating of "Hold."

Shares of AngloGold Ashanti PLC (NYSE:AU - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $77.71 and last traded at $76.23, with a volume of 541318 shares changing hands. The stock had previously closed at $74.53.

Wall Street Analysts Forecast Growth

AU has been the topic of several research reports. Roth Capital set a $76.00 price target on shares of AngloGold Ashanti and gave the company a "buy" rating in a research report on Friday. Zacks Research raised shares of AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Wall Street Zen raised shares of AngloGold Ashanti from a "hold" rating to a "buy" rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of AngloGold Ashanti in a research note on Saturday, September 27th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $55.00 price target on shares of AngloGold Ashanti in a research note on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $54.00.

AngloGold Ashanti Stock Up 3.1%

The firm's 50-day moving average price is $60.80 and its 200-day moving average price is $49.58. The company has a market cap of $32.24 billion, a price-to-earnings ratio of 20.42 and a beta of 0.53. 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 released its quarterly earnings data on Friday, August 1st. The mining company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.06). AngloGold Ashanti had a return on equity of 22.54% and a net margin of 23.60%.The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.29 billion. Sell-side analysts forecast that AngloGold Ashanti PLC will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a dividend of $0.80 per share. This represents a yield of 610.0%. The ex-dividend date of this dividend was Friday, August 22nd. This is a positive change from AngloGold Ashanti's previous semi-annual dividend of $0.69. AngloGold Ashanti's dividend payout ratio (DPR) is 85.11%.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new stake in AngloGold Ashanti during the 1st quarter worth $30,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in AngloGold Ashanti during the 1st quarter worth $30,000. Financial Management Professionals Inc. purchased a new stake in AngloGold Ashanti during the 2nd quarter worth $30,000. SVB Wealth LLC purchased a new stake in AngloGold Ashanti during the 1st quarter worth $32,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in AngloGold Ashanti by 30.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the mining company's stock worth $47,000 after buying an additional 238 shares during the period. Hedge funds and other institutional investors own 36.09% of the company's stock.

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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