AngloGold Ashanti (NYSE:AU) Shares Gap Down – Time to Sell?

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 changing hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of AngloGold Ashanti in a research report on Wednesday, January 21st. Scotiabank lifted their price objective on shares of AngloGold Ashanti from $92.00 to $131.00 and gave the company an “outperform” rating in a report on Monday. Wall Street Zen raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. HSBC reaffirmed a “reduce” rating and issued a $55.00 target price on shares of AngloGold Ashanti in a research report on Thursday, October 9th. Finally, 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 report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

AngloGold Ashanti Stock Down 11.3%

The stock has a market cap of $48.57 billion, a P/E ratio of 20.97 and a beta of 0.58. The firm has a 50 day simple moving average of $90.97 and a 200-day simple moving average of $72.99. The company has a quick ratio of 1.98, a current ratio of 2.58 and a debt-to-equity ratio of 0.21.

AngloGold Ashanti (NYSE:AU) last issued its earnings results on Wednesday, November 12th. The mining company reported $1.32 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 for the quarter, compared to the consensus estimate of $2.53 billion. On average, equities research analysts forecast that AngloGold Ashanti PLC will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, November 28th. AngloGold Ashanti’s payout ratio is currently 80.18%.

Institutional Trading of AngloGold Ashanti

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PDS Planning Inc raised its holdings in AngloGold Ashanti by 3.0% in the 4th quarter. PDS Planning Inc now owns 4,246 shares of the mining company’s stock valued at $362,000 after acquiring an additional 124 shares during the period. Linden Thomas Advisory Services LLC grew its position in shares of AngloGold Ashanti by 4.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 3,572 shares of the mining company’s stock valued at $305,000 after purchasing an additional 142 shares during the last quarter. California State Teachers Retirement System grew its position in shares of AngloGold Ashanti by 0.5% in the third quarter. California State Teachers Retirement System now owns 31,919 shares of the mining company’s stock valued at $2,245,000 after purchasing an additional 147 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of AngloGold Ashanti by 33.4% during the third quarter. CIBC Private Wealth Group LLC now owns 599 shares of the mining company’s stock worth $42,000 after purchasing an additional 150 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in AngloGold Ashanti by 4.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,528 shares of the mining company’s stock worth $248,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 36.09% of the company’s stock.

About AngloGold Ashanti

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.