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

Key Points

• AngloGold Ashanti shares fell 4.1%, opening at $102.56 after previously closing at $108.53, and last traded near $104.17.
• Analyst sentiment remains cautiously positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $111.14, despite several recent downgrades.
• The company’s latest quarterly results missed expectations, reporting $1.98 in earnings per share versus a $2.03 estimate and revenue of $3.10 billion versus $3.20 billion expected. It paid a quarterly dividend of $0.72, representing a 2.8% annualized yield.

AngloGold Ashanti PLC (NYSE:AU - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $108.53, but opened at $102.56. AngloGold Ashanti shares last traded at $104.1730, with a volume of 397,073 shares.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AU. Weiss Ratings lowered AngloGold Ashanti from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 3rd. Freedom Capital upgraded shares of AngloGold Ashanti to a "strong-buy" rating in a research note on Friday, June 26th. Royal Bank Of Canada cut their price objective on AngloGold Ashanti from $114.00 to $111.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Wall Street Zen downgraded shares of AngloGold Ashanti from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Finally, BMO Capital Markets lowered shares of AngloGold Ashanti from an "outperform" rating to a "market perform" rating and set a $115.00 price target on the stock. in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, AngloGold Ashanti presently has an average rating of "Moderate Buy" and an average target price of $111.14.

AngloGold Ashanti Trading Down 4.1%

The company has a market cap of $52.56 billion, a price-to-earnings ratio of 13.97 and a beta of 0.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.07 and a current ratio of 2.71. The business's 50 day moving average price is $93.86 and its 200-day moving average price is $96.24.

AngloGold Ashanti (NYSE:AU - Get Free Report) last issued its earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. On average, research analysts forecast that AngloGold Ashanti PLC will post 8.14 EPS for the current year.

AngloGold Ashanti Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 21st were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $2.88 annualized dividend and a dividend yield of 2.8%. AngloGold Ashanti's dividend payout ratio is presently 6.70%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AU. Engineers Gate Manager LP grew its holdings in shares of AngloGold Ashanti by 103.0% during the second quarter. Engineers Gate Manager LP now owns 78,521 shares of the mining company's stock worth $6,352,000 after purchasing an additional 39,832 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in AngloGold Ashanti during the 2nd quarter worth about $187,000. RFG Advisory LLC grew its holdings in AngloGold Ashanti by 4.2% during the 2nd quarter. RFG Advisory LLC now owns 13,360 shares of the mining company's stock worth $1,081,000 after acquiring an additional 543 shares during the last quarter. NewEdge Advisors LLC increased its position in AngloGold Ashanti by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 11,504 shares of the mining company's stock valued at $931,000 after acquiring an additional 2,507 shares in the last quarter. Finally, Carrhae Capital LLP raised its stake in shares of AngloGold Ashanti by 199.1% in the second quarter. Carrhae Capital LLP now owns 756,610 shares of the mining company's stock worth $61,202,000 after acquiring an additional 503,644 shares during the last quarter. Institutional investors own 36.09% of the company's stock.

About AngloGold Ashanti

AngloGold Ashanti plc is a global gold mining company that explores for, develops, and operates gold mines. Its primary product is gold, with silver and other minerals produced as byproducts at some operations. The company also manages mineral exploration, mine development, processing, and related reclamation activities.

AngloGold Ashanti operates across several regions, including Africa, Australia, and the Americas. Its portfolio has included mines and projects in Ghana, Guinea, Tanzania, Australia, Brazil, and Argentina, supported by exploration programs in other prospective mining jurisdictions.

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