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

AngloGold Ashanti plc (NYSE:AU - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $42.88, but opened at $44.46. AngloGold Ashanti shares last traded at $44.25, with a volume of 615,692 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of AngloGold Ashanti from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, April 4th. JPMorgan Chase & Co. raised their target price on shares of AngloGold Ashanti from $33.00 to $53.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Scotiabank raised their target price on shares of AngloGold Ashanti from $42.00 to $43.50 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Wall Street Zen upgraded shares of AngloGold Ashanti from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, HSBC restated a "reduce" rating and set a $35.00 target price 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, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.30.

AngloGold Ashanti Stock Performance

The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $18.10 billion, a PE ratio of 14.18 and a beta of 0.48. The firm's 50-day simple moving average is $39.95 and its two-hundred day simple moving average is $31.97.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The mining company reported $0.88 earnings per share for the quarter. The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.84 billion. On average, equities research analysts expect that AngloGold Ashanti plc will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.125 per share. This represents a yield of 1.14%. The ex-dividend date is Friday, May 30th. AngloGold Ashanti's payout ratio is 16.45%.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. purchased a new stake in AngloGold Ashanti in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its position in AngloGold Ashanti by 210.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company's stock worth $27,000 after buying an additional 796 shares in the last quarter. Hara Capital LLC purchased a new stake in AngloGold Ashanti in the 4th quarter worth approximately $29,000. Global Trust Asset Management LLC bought a new position in shares of AngloGold Ashanti during the 1st quarter valued at $30,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in shares of AngloGold Ashanti during the 1st quarter valued at $30,000. Hedge funds and other institutional investors 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.