AngloGold Ashanti (NYSE:AU) Shares Gap Down - Here's Why

AngloGold Ashanti plc (NYSE:AU - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $50.84, but opened at $49.76. AngloGold Ashanti shares last traded at $49.68, with a volume of 504,175 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AU. JPMorgan Chase & Co. increased their price target on AngloGold Ashanti from $33.00 to $53.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Scotiabank boosted their price objective on AngloGold Ashanti from $42.00 to $43.50 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Wall Street Zen downgraded AngloGold Ashanti from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 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 research report on Friday, April 4th. Finally, HSBC restated a "reduce" rating and set a $35.00 price target on shares of AngloGold Ashanti in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, AngloGold Ashanti presently has an average rating of "Moderate Buy" and an average price target of $43.08.

AngloGold Ashanti Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.14. The firm has a market cap of $20.82 billion, a P/E ratio of 16.32 and a beta of 0.49. The company has a fifty day moving average of $42.84 and a 200-day moving average of $34.05.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The mining company reported $0.88 earnings per share (EPS) for the quarter. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.84 billion. On average, sell-side analysts anticipate 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. Shareholders of record on Monday, June 2nd were paid a $0.125 dividend. This represents a yield of 1.14%. The ex-dividend date of this dividend was Friday, May 30th. AngloGold Ashanti's dividend payout ratio is presently 16.45%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AU. Assenagon Asset Management S.A. grew its stake in shares of AngloGold Ashanti by 2.1% during the first quarter. Assenagon Asset Management S.A. now owns 11,353 shares of the mining company's stock valued at $424,000 after buying an additional 235 shares during the last quarter. NewEdge Advisors LLC grew its position in AngloGold Ashanti by 9.4% during the 4th quarter. NewEdge Advisors LLC now owns 5,799 shares of the mining company's stock worth $134,000 after acquiring an additional 500 shares during the last quarter. Forefront Wealth Management Inc. grew its position in AngloGold Ashanti by 1.7% during the 1st quarter. Forefront Wealth Management Inc. now owns 38,529 shares of the mining company's stock worth $1,430,000 after acquiring an additional 638 shares during the last quarter. Sprott Inc. increased its stake in AngloGold Ashanti by 0.7% in the 4th quarter. Sprott Inc. now owns 91,168 shares of the mining company's stock worth $2,104,000 after purchasing an additional 662 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of AngloGold Ashanti by 210.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company's stock valued at $27,000 after purchasing an additional 796 shares during the period. Institutional investors own 36.09% of the company's stock.

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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