AngloGold Ashanti (NYSE:AU) Hits New 12-Month High – Here’s Why

Shares of AngloGold Ashanti plc (NYSE:AU) reached a new 52-week high during trading on Friday . The stock traded as high as $41.91 and last traded at $42.31, with a volume of 140927 shares. The stock had previously closed at $38.85.

Wall Street Analyst Weigh In

Several research firms have issued reports on AU. Scotiabank upped their price target on shares of AngloGold Ashanti from $30.00 to $34.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 25th. Royal Bank of Canada raised their price target 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, StockNews.com raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, AngloGold Ashanti has an average rating of “Moderate Buy” and an average target price of $35.25.

AngloGold Ashanti Stock Up 10.3 %

The company has a 50-day moving average of $33.51 and a two-hundred day moving average of $28.85. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $17.98 billion, a P/E ratio of 13.39 and a beta of 0.81.

AngloGold Ashanti (NYSE:AU) last released its earnings results on Wednesday, February 19th. The mining company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.10). The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. On average, research analysts predict that AngloGold Ashanti plc will post 3.83 EPS for the current year.

AngloGold Ashanti Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.69 per share. This is a positive change from AngloGold Ashanti’s previous semi-annual dividend of $0.22. This represents a yield of 2.8%. The ex-dividend date of this dividend was Friday, March 14th. AngloGold Ashanti’s dividend payout ratio (DPR) is currently 43.13%.

Institutional Trading of AngloGold Ashanti

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of AngloGold Ashanti by 378.2% in the third quarter. JPMorgan Chase & Co. now owns 4,782 shares of the mining company’s stock worth $127,000 after acquiring an additional 3,782 shares during the period. Raymond James Financial Inc. bought a new stake in AngloGold Ashanti in the 4th quarter worth approximately $406,000. Van ECK Associates Corp raised its stake in AngloGold Ashanti by 10.9% during the 4th quarter. Van ECK Associates Corp now owns 25,411,814 shares of the mining company’s stock valued at $586,504,000 after buying an additional 2,491,130 shares during the last quarter. Ninety One UK Ltd purchased a new stake in AngloGold Ashanti during the 4th quarter valued at $45,043,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of AngloGold Ashanti by 47.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 381,627 shares of the mining company’s stock valued at $8,808,000 after buying an additional 122,507 shares during the period. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

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.