AngloGold Ashanti PLC (NYSE:AU) Stock Has Consensus Price Target of $120.14

Key Points

• Analyst consensus is “Buy” for AngloGold Ashanti, with six buy, two strong-buy, and two hold ratings. The average 12-month price target is $120.14, though recent targets ranged from $115 to $140.
• The stock opened at $91.44 and has traded between $62.55 and $129.14 over the past year. AngloGold Ashanti reported quarterly EPS of $1.98, below the $2.03 consensus estimate, while revenue of $3.10 billion also missed expectations.
• The company reduced its quarterly dividend to $0.72 from $1.16, resulting in an annualized dividend of $2.88 and a 3.1% yield. Institutional investors and hedge funds own 36.09% of the stock.

Shares of AngloGold Ashanti PLC (NYSE:AU - Get Free Report) have earned a consensus recommendation of "Buy" from the ten analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $120.14.

A number of equities research analysts recently weighed in on the company. BMO Capital Markets lowered AngloGold Ashanti from an "outperform" rating to a "market perform" rating and set a $115.00 price objective on the stock. in a research report on Thursday, September 10th. JPMorgan Chase & Co. increased their target price on AngloGold Ashanti from $134.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, September 15th. Zacks Research upgraded AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research report on Friday, September 11th. Citigroup cut their price target on AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. Finally, Scotiabank reduced their price target on AngloGold Ashanti from $134.00 to $128.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th.

AngloGold Ashanti Stock Performance

NYSE AU opened at $91.44 on Tuesday. The firm's fifty day moving average price is $101.94 and its two-hundred day moving average price is $94.77. The stock has a market cap of $46.17 billion, a PE ratio of 12.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.07 and a current ratio of 2.71. AngloGold Ashanti has a fifty-two week low of $62.55 and a fifty-two week high of $129.14.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 EPS for the quarter, missing analysts' consensus estimates of $2.03 by ($0.05). AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.20 billion. On average, equities analysts expect that AngloGold Ashanti will post 8.18 EPS for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were issued a $0.72 dividend. This is a drop from AngloGold Ashanti's previous quarterly dividend of $1.16. The ex-dividend date was Friday, August 21st. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. AngloGold Ashanti's dividend payout ratio (DPR) is 6.70%.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds have recently added to or reduced their stakes in the business. Founders Grove Wealth Partners LLC bought a new stake in shares of AngloGold Ashanti in the 3rd quarter valued at $209,000. Frank Rimerman Advisors LLC increased its position in shares of AngloGold Ashanti by 0.3% during the third quarter. Frank Rimerman Advisors LLC now owns 79,927 shares of the mining company's stock worth $7,509,000 after buying an additional 268 shares during the period. Alpine Bank Wealth Management bought a new position in AngloGold Ashanti during the third quarter worth $31,000. Assenagon Asset Management S.A. raised its stake in AngloGold Ashanti by 4.0% during the third quarter. Assenagon Asset Management S.A. now owns 11,283 shares of the mining company's stock worth $1,058,000 after buying an additional 432 shares during the last quarter. Finally, Ninety One SA Pty Ltd raised its stake in AngloGold Ashanti by 1.8% during the third quarter. Ninety One SA Pty Ltd now owns 11,398,551 shares of the mining company's stock worth $1,069,147,000 after buying an additional 203,418 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 is a global gold mining company engaged in the exploration, development, and operation of gold mines. Its principal product is refined gold, and the company also produces related byproducts at certain operations. In addition to operating mines, AngloGold Ashanti maintains exploration and development projects intended to expand and sustain its production portfolio.

The company has a geographically diversified portfolio spanning Africa, Australia, and the Americas. Its operations and projects have included assets in Ghana, Tanzania, Guinea, Côte d'Ivoire, the Democratic Republic of the Congo, Australia, Brazil, and Argentina.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.