AngloGold Ashanti (NYSE:AU) Shares Gap Down - What's Next?

Shares of AngloGold Ashanti PLC (NYSE:AU - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $48.30, but opened at $45.93. AngloGold Ashanti shares last traded at $46.45, with a volume of 884,028 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AU. JPMorgan Chase & Co. lifted their target price on shares of AngloGold Ashanti from $33.00 to $53.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Wall Street Zen downgraded AngloGold Ashanti from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. Roth Capital started coverage on AngloGold Ashanti in a report on Thursday, June 12th. They set a "buy" rating and a $52.00 price objective on the stock. Royal Bank Of Canada increased their price objective 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, Scotiabank upped their price target on shares of AngloGold Ashanti from $42.00 to $43.50 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, AngloGold Ashanti has a consensus rating of "Moderate Buy" and a consensus target price of $43.08.

AngloGold Ashanti Stock Performance

The company has a market cap of $19.50 billion, a price-to-earnings ratio of 15.29 and a beta of 0.49. 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's fifty day simple moving average is $44.04 and its two-hundred day simple moving average is $35.02.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced 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 firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.84 billion. 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 declared 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 16.45%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AU. Whittier Trust Co. bought a new stake in shares of AngloGold Ashanti in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in AngloGold Ashanti by 210.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company's stock valued at $27,000 after buying an additional 796 shares during the last quarter. Hara Capital LLC bought a new position in shares of AngloGold Ashanti during the fourth quarter worth about $29,000. Global Trust Asset Management LLC bought a new position in shares of AngloGold Ashanti during the first quarter worth about $30,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of AngloGold Ashanti in the 1st quarter worth about $30,000. Institutional investors and hedge funds own 36.09% of the company's stock.

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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