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

Shares of AngloGold Ashanti PLC (NYSE:AU - Get Free Report) gapped down before the market opened 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 traded.

Analysts Set New Price Targets

Several research firms recently commented on AU. Royal Bank Of Canada boosted their price objective on shares of AngloGold Ashanti from $39.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Scotiabank upped 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 lowered AngloGold Ashanti from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. HSBC reaffirmed a "reduce" rating and set a $35.00 price target on shares of AngloGold Ashanti in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. lifted their price objective 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.08.

AngloGold Ashanti Trading Down 5.6%

The company has a market cap of $18.36 billion, a P/E ratio of 14.41 and a beta of 0.49. The company has a current ratio of 2.34, a quick ratio of 1.57 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $44.17 and a 200-day moving average price of $35.32.

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 (EPS) for the quarter. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.84 billion. AngloGold Ashanti had a net margin of 21.09% and a return on equity of 21.18%. Analysts forecast that AngloGold Ashanti PLC will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

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

Institutional Trading of AngloGold Ashanti

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its holdings in shares of AngloGold Ashanti by 194.3% in the first quarter. Rhumbline Advisers now owns 31,619 shares of the mining company's stock valued at $1,174,000 after purchasing an additional 20,874 shares during the last quarter. Acadian Asset Management LLC acquired a new position in AngloGold Ashanti in the 1st quarter valued at about $5,538,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in AngloGold Ashanti by 25.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,963,318 shares of the mining company's stock valued at $72,878,000 after acquiring an additional 398,684 shares during the period. Empowered Funds LLC acquired a new stake in AngloGold Ashanti during the first quarter worth approximately $321,000. Finally, Ascent Group LLC acquired a new stake in AngloGold Ashanti during the first quarter worth approximately $231,000. 36.09% of the stock is owned by institutional investors and hedge funds.

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.