AngloGold Ashanti (NYSE:AU) Given “Reduce” Rating at HSBC

HSBC reissued their reduce rating on shares of AngloGold Ashanti (NYSE:AU) in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have a $35.00 target price on the mining company’s stock.

A number of other research firms also recently weighed in on AU. Scotiabank upped their target price on AngloGold Ashanti from $34.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Monday. Royal Bank of Canada raised their target price on AngloGold Ashanti from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Finally, StockNews.com raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.80.

AngloGold Ashanti Price Performance

Shares of AU opened at $43.19 on Thursday. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 13.50 and a beta of 0.81. The stock’s fifty day moving average is $34.45 and its 200-day moving average is $29.29. AngloGold Ashanti has a one year low of $21.65 and a one year high of $46.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.14 and a current ratio of 1.73.

AngloGold Ashanti (NYSE:AU) last released its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.10). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Equities analysts anticipate that AngloGold Ashanti will post 3.83 EPS for the current year.

AngloGold Ashanti Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.69 per share. This represents a dividend yield of 2.8%. This is an increase from AngloGold Ashanti’s previous semi-annual dividend of $0.22. The ex-dividend date was Friday, March 14th. AngloGold Ashanti’s dividend payout ratio is currently 43.13%.

Institutional Investors Weigh In On AngloGold Ashanti

Large investors have recently made changes to their positions in the company. State Street Corp grew its position in AngloGold Ashanti by 546.2% during the 3rd quarter. State Street Corp now owns 211,826 shares of the mining company’s stock worth $5,641,000 after purchasing an additional 179,045 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of AngloGold Ashanti during the third quarter valued at $1,606,000. Geode Capital Management LLC raised its position in AngloGold Ashanti by 2.7% during the third quarter. Geode Capital Management LLC now owns 327,108 shares of the mining company’s stock valued at $8,711,000 after buying an additional 8,676 shares during the period. Tidal Investments LLC lifted its stake in AngloGold Ashanti by 80.5% in the 3rd quarter. Tidal Investments LLC now owns 25,452 shares of the mining company’s stock worth $678,000 after acquiring an additional 11,352 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in AngloGold Ashanti by 378.2% during the 3rd 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. Institutional investors and hedge funds 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.