AngloGold Ashanti (NYSE:AU) Sets New 52-Week High - Here's What Happened

Key Points

• AngloGold Ashanti's stock reached a new 52-week high of $69.56, closing at $68.95 with a trading volume of 195,953 shares.
• Despite the strong stock performance, the company reported earnings of $1.25 per share, which missed estimates by $0.06, although revenue exceeded expectations at $2.45 billion.
• The firm recently increased its semi-annual dividend to $0.80 per share from $0.69, resulting in a dividend yield of 610.0% and a payout ratio of 85.11%.

Shares of AngloGold Ashanti PLC (NYSE:AU - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $69.56 and last traded at $68.95, with a volume of 195953 shares. The stock had previously closed at $67.82.

Wall Street Analysts Forecast Growth

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

AngloGold Ashanti Price Performance

The company has a market capitalization of $28.42 billion, a P/E ratio of 18.04 and a beta of 0.54. The business's 50-day moving average price is $55.70 and its 200 day moving average price is $46.57. The company has a quick ratio of 2.22, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its earnings results 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). The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.29 billion. AngloGold Ashanti had a net margin of 23.60% and a return on equity of 22.54%. Analysts anticipate that AngloGold Ashanti PLC will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Increases Dividend

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

Hedge Funds Weigh In On AngloGold Ashanti

Hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. acquired a new position in AngloGold Ashanti during the second quarter worth approximately $30,000. Global Trust Asset Management LLC purchased a new position in shares of AngloGold Ashanti in the 1st quarter worth about $30,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of AngloGold Ashanti in the first quarter valued at about $30,000. SVB Wealth LLC acquired a new stake in AngloGold Ashanti during the 1st quarter valued at approximately $32,000. Finally, Northwestern Mutual Wealth Management Co. grew 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 valued at $47,000 after purchasing an additional 238 shares in the last quarter. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

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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