AngloGold Ashanti (NYSE:AU) Hits New 12-Month High – What’s Next?

AngloGold Ashanti PLC (NYSE:AU) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $91.12 and last traded at $90.2820, with a volume of 7232 shares. The stock had previously closed at $89.91.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. HSBC reaffirmed a “reduce” rating and set a $55.00 price target on shares of AngloGold Ashanti in a research report on Thursday, October 9th. Scotiabank boosted their price target on AngloGold Ashanti from $90.00 to $92.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 12th. Roth Capital raised their price objective on AngloGold Ashanti from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Finally, JPMorgan Chase & Co. lifted their target price on AngloGold Ashanti from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.00.

AngloGold Ashanti Price Performance

The firm has a market cap of $38.30 billion, a PE ratio of 20.10 and a beta of 0.58. The stock has a 50 day simple moving average of $78.97 and a two-hundred day simple moving average of $64.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.98 and a current ratio of 2.58.

AngloGold Ashanti (NYSE:AU) last issued its earnings results on Wednesday, November 12th. The mining company reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.02). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.53 billion. AngloGold Ashanti had a return on equity of 24.01% and a net margin of 26.25%. Sell-side analysts expect that AngloGold Ashanti PLC will post 3.83 earnings per share for the current year.

AngloGold Ashanti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.0%. AngloGold Ashanti’s dividend payout ratio (DPR) is presently 80.18%.

Hedge Funds Weigh In On AngloGold Ashanti

Large investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of AngloGold Ashanti by 0.5% in the third quarter. California State Teachers Retirement System now owns 31,919 shares of the mining company’s stock worth $2,245,000 after acquiring an additional 147 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of AngloGold Ashanti by 33.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 599 shares of the mining company’s stock valued at $42,000 after purchasing an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in AngloGold Ashanti by 4.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,528 shares of the mining company’s stock worth $248,000 after purchasing an additional 161 shares during the period. CoreCap Advisors LLC raised its holdings in AngloGold Ashanti by 27.3% in the 3rd quarter. CoreCap Advisors LLC now owns 1,006 shares of the mining company’s stock worth $71,000 after purchasing an additional 216 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in AngloGold Ashanti by 13.8% during the third quarter. Farther Finance Advisors LLC now owns 1,893 shares of the mining company’s stock worth $133,000 after purchasing an additional 229 shares in the last quarter. 36.09% of the stock is currently owned by institutional investors and hedge funds.

AngloGold Ashanti Company Profile

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.