AngloGold Ashanti (NYSE:AU) Shares Gap Down - Time to Sell?

AngloGold Ashanti PLC (NYSE:AU - Get Free Report) shares gapped down prior to trading 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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Scotiabank lifted their target price on shares of AngloGold Ashanti from $42.00 to $43.50 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. lifted their price objective on shares of AngloGold Ashanti from $33.00 to $53.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Roth Capital started coverage on shares of AngloGold Ashanti in a research note on Thursday, June 12th. They set a "buy" rating and a $52.00 target price on the stock. Royal Bank Of Canada raised their target price on AngloGold Ashanti from $39.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Finally, Wall Street Zen downgraded AngloGold Ashanti from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, AngloGold Ashanti currently has an average rating of "Moderate Buy" and a consensus target price of $43.08.

AngloGold Ashanti Trading Down 0.6%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.57 and a current ratio of 2.34. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 15.81 and a beta of 0.49. The company's 50 day simple moving average is $43.64 and its two-hundred day simple moving average is $34.41.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $1.84 billion. Research analysts expect that AngloGold Ashanti PLC will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Cuts Dividend

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

Institutional Investors Weigh In On AngloGold Ashanti

Several institutional investors have recently made changes to their positions in the company. Global Trust Asset Management LLC bought a new position in AngloGold Ashanti during the first quarter valued at approximately $30,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of AngloGold Ashanti during the 1st quarter worth $30,000. SVB Wealth LLC bought a new position in shares of AngloGold Ashanti during the 1st quarter valued at $32,000. Whittier Trust Co. bought a new position in shares of AngloGold Ashanti during the 4th quarter valued at $25,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of AngloGold Ashanti by 210.6% in the 4th 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 last quarter. 36.09% of the stock is currently owned by institutional investors and hedge funds.

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.