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

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

Analyst Ratings Changes

AU has been the subject of several research reports. JPMorgan Chase & Co. boosted their price target on shares of AngloGold Ashanti from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Wall Street Zen downgraded shares of AngloGold Ashanti from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. Royal Bank Of Canada raised their price objective on shares of AngloGold Ashanti from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. HSBC reaffirmed a "reduce" rating and issued a $35.00 target price on shares of AngloGold Ashanti in a report on Thursday, April 17th. Finally, Scotiabank upped their price target on AngloGold Ashanti from $42.00 to $43.50 and gave the stock a "sector perform" rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, AngloGold Ashanti presently has an average rating of "Moderate Buy" and a consensus target price of $45.08.

AngloGold Ashanti Stock Performance

The company has a quick ratio of 1.57, a current ratio of 2.34 and a debt-to-equity ratio of 0.22. The stock has a market cap of $21.78 billion, a price-to-earnings ratio of 17.05 and a beta of 0.48. The company's 50-day simple moving average is $45.65 and its 200-day simple moving average is $37.99.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The mining company reported $0.88 earnings per share (EPS) for the quarter. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.84 billion. AngloGold Ashanti had a return on equity of 21.18% and a net margin of 21.09%. Analysts predict that AngloGold Ashanti PLC will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Cuts Dividend

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

Hedge Funds Weigh In On AngloGold Ashanti

Several institutional investors have recently added to or reduced their stakes in the company. 111 Capital acquired a new stake in shares of AngloGold Ashanti during the second quarter worth $293,000. Ascent Group LLC boosted its position in shares of AngloGold Ashanti by 38.8% during the second quarter. Ascent Group LLC now owns 8,623 shares of the mining company's stock worth $393,000 after purchasing an additional 2,409 shares in the last quarter. Vigilare Wealth Management acquired a new position in shares of AngloGold Ashanti in the 2nd quarter valued at $283,000. Lee Johnson Capital Management LLC bought a new position in AngloGold Ashanti during the second quarter worth about $787,000. Finally, Forefront Wealth Management Inc. grew its stake in AngloGold Ashanti by 46.8% in the second quarter. Forefront Wealth Management Inc. now owns 56,545 shares of the mining company's stock valued at $2,577,000 after acquiring an additional 18,016 shares during the period. 36.09% of the stock is 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.

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