AngloGold Ashanti (NYSE:AU) Hits New 12-Month High – Here’s Why

AngloGold Ashanti PLC (NYSE:AU)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $105.14 and last traded at $106.0110, with a volume of 654027 shares traded. The stock had previously closed at $99.03.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AU shares. HSBC reiterated a “reduce” rating and set a $55.00 price objective on shares of AngloGold Ashanti in a research note on Thursday, October 9th. Roth Capital boosted their price objective on AngloGold Ashanti from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Weiss Ratings raised shares of AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of AngloGold Ashanti from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. Finally, Wall Street Zen raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

AngloGold Ashanti Stock Up 6.0%

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 company’s fifty day simple moving average is $86.69 and its 200 day simple moving average is $69.95. The firm has a market capitalization of $41.57 billion, a P/E ratio of 23.10 and a beta of 0.58.

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

AngloGold Ashanti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.91 dividend. 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 3.5%. AngloGold Ashanti’s dividend payout ratio (DPR) is presently 80.18%.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. HHM Wealth Advisors LLC bought a new stake in AngloGold Ashanti in the 3rd quarter worth approximately $25,000. UMB Bank n.a. grew its holdings in shares of AngloGold Ashanti by 129.0% in the third quarter. UMB Bank n.a. now owns 490 shares of the mining company’s stock worth $34,000 after acquiring an additional 276 shares during the period. Optimum Investment Advisors bought a new stake in shares of AngloGold Ashanti in the third quarter worth $35,000. Ancora Advisors LLC purchased a new stake in AngloGold Ashanti during the third quarter valued at $35,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in AngloGold Ashanti by 33.4% in the third quarter. CIBC Private Wealth Group LLC now owns 599 shares of the mining company’s stock valued at $42,000 after acquiring an additional 150 shares during the period. Institutional investors own 36.09% of the company’s stock.

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.