AngloGold Ashanti (NYSE:AU) Upgraded at Zacks Research

Zacks Research upgraded shares of AngloGold Ashanti (NYSE:AU) from a strong sell rating to a hold rating in a research report released on Monday,Zacks.com reports.

AU has been the subject of several other research reports. JPMorgan Chase & Co. raised their price objective on AngloGold Ashanti from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Wall Street Zen raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Scotiabank reissued a “sector perform” rating and issued a $55.00 price objective on shares of AngloGold Ashanti in a report on Monday, August 11th. Finally, Roth Capital reaffirmed a “buy” rating on shares of AngloGold Ashanti in a research report on Friday, August 1st. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $49.60.

AngloGold Ashanti Trading Up 2.1%

NYSE AU opened at $71.79 on Monday. The stock has a market capitalization of $30.13 billion, a price-to-earnings ratio of 19.09 and a beta of 0.53. AngloGold Ashanti has a 52 week low of $22.45 and a 52 week high of $73.22. The stock’s 50 day moving average price is $58.90 and its two-hundred day moving average price is $48.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.22 and a current ratio of 2.99.

AngloGold Ashanti (NYSE:AU) last posted its quarterly earnings data on Friday, August 1st. The mining company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.06). AngloGold Ashanti had a net margin of 23.60% and a return on equity of 22.54%. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.29 billion. As a group, analysts anticipate that AngloGold Ashanti will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, August 22nd. This is an increase from AngloGold Ashanti’s previous semi-annual dividend of $0.69. This represents a dividend yield of 610.0%. AngloGold Ashanti’s payout ratio is 85.11%.

Institutional Investors Weigh In On AngloGold Ashanti

A number of institutional investors have recently made changes to their positions in AU. Global Trust Asset Management LLC acquired a new position in shares of AngloGold Ashanti in the first quarter worth approximately $30,000. MJT & Associates Financial Advisory Group Inc. bought a new position in AngloGold Ashanti during the 1st quarter worth approximately $30,000. Financial Management Professionals Inc. bought a new position in AngloGold Ashanti during the 2nd quarter worth approximately $30,000. SVB Wealth LLC acquired a new position in shares of AngloGold Ashanti in the 1st quarter worth approximately $32,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of AngloGold Ashanti by 30.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the mining company’s stock valued at $47,000 after purchasing an additional 238 shares during the last quarter. Institutional investors own 36.09% of the company’s stock.

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.