AngloGold Ashanti (NYSE:AU) Price Target Raised to $53.00

AngloGold Ashanti (NYSE:AU) had its price target upped by JPMorgan Chase & Co. from $33.00 to $53.00 in a report issued on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the mining company’s stock.

AU has been the topic of a number of other research reports. StockNews.com raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. Scotiabank increased 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, April 14th. Royal Bank of Canada increased their target price 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, HSBC reaffirmed a “reduce” rating and issued a $35.00 target price on shares of AngloGold Ashanti in a research report on Thursday, April 17th. One investment 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 MarketBeat, AngloGold Ashanti has an average rating of “Moderate Buy” and a consensus target price of $41.00.

AngloGold Ashanti Price Performance

AngloGold Ashanti stock opened at $42.12 on Monday. AngloGold Ashanti has a 12-month low of $22.13 and a 12-month high of $46.90. The stock has a market capitalization of $17.68 billion, a P/E ratio of 13.16 and a beta of 0.81. The firm’s 50-day moving average is $36.13 and its two-hundred day moving average is $30.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.14.

AngloGold Ashanti (NYSE:AU) last released its quarterly 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Equities analysts predict that AngloGold Ashanti will post 3.83 earnings per share for the current year.

AngloGold Ashanti Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC purchased a new position in AngloGold Ashanti in the first quarter valued at about $30,000. Whittier Trust Co. purchased a new position in AngloGold Ashanti in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its position in AngloGold Ashanti by 210.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company’s stock valued at $27,000 after purchasing an additional 796 shares during the period. Hara Capital LLC purchased a new position in AngloGold Ashanti in the fourth quarter valued at about $29,000. Finally, Nomura Asset Management Co. Ltd. purchased a new position in AngloGold Ashanti in the fourth quarter valued at about $32,000. 36.09% of the stock is 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.