AngloGold Ashanti (NYSE:AU) Shares Gap Down – Here’s Why

AngloGold Ashanti PLC (NYSE:AU)’s share price gapped down prior to trading on Friday . The stock had previously closed at $107.02, but opened at $95.93. AngloGold Ashanti shares last traded at $96.2980, with a volume of 903,892 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Scotiabank raised their price target on shares of AngloGold Ashanti from $92.00 to $131.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. JPMorgan Chase & Co. increased their price target on AngloGold Ashanti from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of AngloGold Ashanti in a research report on Wednesday, January 21st. Roth Mkm increased their target price on AngloGold Ashanti from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, Zacks Research raised shares of AngloGold Ashanti from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.00.

AngloGold Ashanti Price Performance

The company has a current ratio of 2.58, a quick ratio of 1.98 and a debt-to-equity ratio of 0.21. The firm has a market cap of $44.92 billion, a P/E ratio of 20.43 and a beta of 0.58. The business’s fifty day simple moving average is $91.23 and its 200-day simple moving average is $73.48.

AngloGold Ashanti (NYSE:AU) last released its quarterly earnings data 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 firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.53 billion. AngloGold Ashanti had a net margin of 26.25% and a return on equity of 24.01%. As a group, analysts forecast that AngloGold Ashanti PLC will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $3.64 annualized dividend and a dividend yield of 3.9%. AngloGold Ashanti’s dividend payout ratio (DPR) is currently 80.18%.

Hedge Funds Weigh In On AngloGold Ashanti

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC bought a new position in shares of AngloGold Ashanti in the first quarter worth approximately $321,000. Farther Finance Advisors LLC raised its holdings in AngloGold Ashanti by 579.2% in the second quarter. Farther Finance Advisors LLC now owns 1,664 shares of the mining company’s stock worth $76,000 after purchasing an additional 1,419 shares in the last quarter. Ascent Group LLC increased its stake in shares of AngloGold Ashanti by 38.8% in the 2nd quarter. Ascent Group LLC now owns 8,623 shares of the mining company’s stock worth $393,000 after acquiring an additional 2,409 shares in the last quarter. 111 Capital bought a new position in shares of AngloGold Ashanti during the second quarter valued at approximately $293,000. Finally, Euro Pacific Asset Management LLC bought a new position in AngloGold Ashanti during the 2nd quarter valued at approximately $1,625,000. 36.09% of the stock is currently owned by institutional investors.

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.