AngloGold Ashanti (NYSE:AU) Sets New 52-Week High - Still a Buy?

AngloGold Ashanti PLC (NYSE:AU - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $51.61 and last traded at $51.47, with a volume of 634873 shares trading hands. The stock had previously closed at $50.62.

Analyst Ratings Changes

AU has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of AngloGold Ashanti from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. HSBC reiterated a "reduce" rating and set a $35.00 price objective on shares of AngloGold Ashanti in a report on Thursday, April 17th. Roth Capital increased their price objective on shares of AngloGold Ashanti from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Royal Bank Of Canada increased their price objective on shares of AngloGold Ashanti from $39.00 to $41.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Finally, Wall Street Zen lowered shares of AngloGold Ashanti from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.08.

AngloGold Ashanti Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.34 and a quick ratio of 1.57. The company's 50-day simple moving average is $46.50 and its 200-day simple moving average is $38.55. The company has a market cap of $21.08 billion, a price-to-earnings ratio of 16.52 and a beta of 0.48.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The mining company reported $0.88 earnings per share for the quarter. AngloGold Ashanti had a net margin of 21.09% and a return on equity of 21.18%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.84 billion. On average, equities research analysts anticipate that AngloGold Ashanti PLC will post 3.83 EPS for the current year.

AngloGold Ashanti Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a dividend of $0.125 per share. This represents a yield of 1.14%. The ex-dividend date was Friday, May 30th. AngloGold Ashanti's dividend payout ratio (DPR) is presently 16.45%.

Hedge Funds Weigh In On AngloGold Ashanti

Large investors have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in AngloGold Ashanti during the second quarter worth $30,000. Global Trust Asset Management LLC bought a new stake in AngloGold Ashanti in the first quarter valued at $30,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in AngloGold Ashanti in the first quarter valued at $30,000. SVB Wealth LLC bought a new stake in AngloGold Ashanti in the first quarter valued at $32,000. Finally, Hara Capital LLC bought a new stake in AngloGold Ashanti in the fourth quarter valued at $29,000. 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.