AngloGold Ashanti (NYSE:AU) Announces Earnings Results

AngloGold Ashanti (NYSE:AU) released its quarterly earnings data on Tuesday. The mining company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.02), Zacks reports. AngloGold Ashanti had a return on equity of 22.54% and a net margin of 23.60%.The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.53 billion.

AngloGold Ashanti Price Performance

Shares of AU stock opened at $79.14 on Wednesday. The firm has a market cap of $33.22 billion, a P/E ratio of 21.05 and a beta of 0.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.22. AngloGold Ashanti has a 1-year low of $22.45 and a 1-year high of $79.94. The firm has a fifty day moving average of $68.82 and a two-hundred day moving average of $55.38.

AngloGold Ashanti Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, November 28th. AngloGold Ashanti’s dividend payout ratio is 85.11%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AU. Scotiabank raised shares of AngloGold Ashanti from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $55.00 to $90.00 in a research report on Thursday, October 23rd. Weiss Ratings raised AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 24th. Roth Capital set a $76.00 target price on AngloGold Ashanti and gave the company a “buy” rating in a research note on Friday, October 3rd. Citigroup initiated coverage on AngloGold Ashanti in a research report on Monday, October 27th. They set a “buy” rating and a $90.00 price target on the stock. Finally, Wall Street Zen cut AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.17.

Hedge Funds Weigh In On AngloGold Ashanti

A number of hedge funds have recently bought and sold shares of AU. MML Investors Services LLC raised its stake in AngloGold Ashanti by 151.2% during the second quarter. MML Investors Services LLC now owns 31,795 shares of the mining company’s stock valued at $1,449,000 after buying an additional 19,138 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of AngloGold Ashanti in the 2nd quarter valued at approximately $1,581,000. Quantinno Capital Management LP increased its holdings in shares of AngloGold Ashanti by 6.3% in the 2nd quarter. Quantinno Capital Management LP now owns 37,375 shares of the mining company’s stock valued at $1,703,000 after acquiring an additional 2,229 shares during the last quarter. Bank of Nova Scotia acquired a new stake in shares of AngloGold Ashanti during the 2nd quarter valued at approximately $1,740,000. Finally, Ameriprise Financial Inc. lifted its stake in AngloGold Ashanti by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 56,318 shares of the mining company’s stock worth $2,566,000 after purchasing an additional 11,654 shares during the last quarter. 36.09% of the stock is currently owned by institutional investors and hedge funds.

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.