AngloGold Ashanti (NYSE:AU) Reaches New 12-Month High After Dividend Announcement

Key Points

• AngloGold Ashanti's shares reached a new 52-week high of $52.28 following the announcement of a $0.80 dividend per share, reflecting a yield of 610.0% on the stock.
• Wall Street analysts have varied opinions on the stock, with a consensus rating of "Moderate Buy" and an average price target of $45.08, while multiple hedge funds have recently increased their positions in the company.
• Despite reporting a net margin of 23.60% and revenue of $2.45 billion for the quarter, the company missed analysts' EPS estimates by $0.06.

Shares of AngloGold Ashanti PLC (NYSE:AU - Get Free Report) hit a new 52-week high on Monday following a dividend announcement from the company. The company traded as high as $52.28 and last traded at $52.06, with a volume of 1627220 shares trading hands. The stock had previously closed at $48.76.

The newly announced dividend which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be paid a $0.80 dividend. This is a boost from AngloGold Ashanti's previous semi-annual dividend of $0.69. This represents a yield of 610.0%. The ex-dividend date of this dividend is Friday, August 22nd. AngloGold Ashanti's payout ratio is presently 13.30%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AU. Scotiabank boosted their price target on shares of AngloGold Ashanti from $42.00 to $43.50 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. boosted their price objective 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. HSBC restated a "reduce" rating and issued a $35.00 price objective on shares of AngloGold Ashanti in a research report on Thursday, April 17th. Roth Capital restated a "buy" rating on shares of AngloGold Ashanti in a research report on Friday, August 1st. Finally, Wall Street Zen cut shares of AngloGold Ashanti from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.30.

AngloGold Ashanti Trading Down 1.1%

The firm has a market capitalization of $24.09 billion, a PE ratio of 15.26 and a beta of 0.46. The firm has a 50 day simple moving average of $48.23 and a 200 day simple moving average of $40.32. The company has a current ratio of 2.34, a quick ratio of 1.57 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 the consensus estimate of $1.31 by ($0.06). AngloGold Ashanti had a net margin of 23.60% and a return on equity of 24.25%. The business had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.29 billion. Equities analysts expect that AngloGold Ashanti PLC will post 3.83 earnings per share for the current fiscal year.

Institutional Trading of AngloGold Ashanti

Several large investors have recently added to or reduced their stakes in AU. Dimensional Fund Advisors LP raised its holdings in AngloGold Ashanti by 274.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,133,744 shares of the mining company's stock worth $118,448,000 after purchasing an additional 3,764,165 shares during the period. Marshall Wace LLP lifted its position in shares of AngloGold Ashanti by 3,767.1% during the 4th quarter. Marshall Wace LLP now owns 2,751,410 shares of the mining company's stock valued at $63,503,000 after buying an additional 2,680,261 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of AngloGold Ashanti by 1,767.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,788,123 shares of the mining company's stock valued at $127,027,000 after acquiring an additional 2,638,823 shares during the period. Geode Capital Management LLC lifted 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 valued at $142,986,000 after purchasing an additional 2,300,204 shares in the last quarter. Finally, Coronation Fund Managers Ltd. bought a new position in shares of AngloGold Ashanti in the first quarter worth approximately $63,186,000. 36.09% of the stock is currently owned by institutional investors.

AngloGold Ashanti Company Profile

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.