AngloGold Ashanti (NYSE:AU) Shares Gap Up – Still a Buy?

AngloGold Ashanti plc (NYSE:AU) shares gapped up before the market opened on Monday . The stock had previously closed at $43.81, but opened at $45.54. AngloGold Ashanti shares last traded at $47.47, with a volume of 1,018,735 shares changing hands.

Wall Street Analyst Weigh In

AU has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on AngloGold Ashanti from $33.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, April 28th. HSBC restated a “reduce” rating and issued a $35.00 price target on shares of AngloGold Ashanti in a report on Thursday, April 17th. Royal Bank of Canada lifted their price target on AngloGold Ashanti from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Wall Street Zen cut AngloGold Ashanti from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Scotiabank lifted their price target on AngloGold Ashanti from $42.00 to $43.50 and gave the company a “sector perform” rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.30.

AngloGold Ashanti Stock Up 8.7%

The firm has a market capitalization of $19.99 billion, a price-to-earnings ratio of 15.67 and a beta of 0.48. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average price of $40.60 and a two-hundred day moving average price of $32.51.

AngloGold Ashanti (NYSE:AU) last released its quarterly earnings data on Friday, May 9th. The mining company reported $0.88 earnings per share for the quarter. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.84 billion. On average, equities analysts expect that AngloGold Ashanti plc will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be given a dividend of $0.125 per share. This represents a yield of 1.14%. The ex-dividend date is Friday, May 30th. AngloGold Ashanti’s dividend payout ratio (DPR) is presently 16.45%.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds and other institutional investors have recently bought and sold shares of AU. Whittier Trust Co. acquired a new position in AngloGold Ashanti during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its position in AngloGold Ashanti by 210.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company’s stock worth $27,000 after acquiring an additional 796 shares in the last quarter. Hara Capital LLC acquired a new position in AngloGold Ashanti during the 4th quarter worth approximately $29,000. Global Trust Asset Management LLC acquired a new position in AngloGold Ashanti during the 1st quarter worth approximately $30,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of AngloGold Ashanti in the 1st quarter valued at approximately $30,000. 36.09% of the stock is owned by institutional investors and hedge funds.

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.