AngloGold Ashanti (NYSE:AU) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of AngloGold Ashanti (NYSE:AU) from a hold rating to a strong sell rating in a research note published on Wednesday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada lowered their price objective on shares of AngloGold Ashanti from $114.00 to $111.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Roth Capital decreased their target price on shares of AngloGold Ashanti from $121.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Citigroup lowered their price target on shares of AngloGold Ashanti from $130.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday. Freedom Capital upgraded AngloGold Ashanti to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Scotiabank reduced their price objective on AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, AngloGold Ashanti has a consensus rating of “Moderate Buy” and a consensus price target of $110.50.

AngloGold Ashanti Stock Down 3.6%

Shares of AU opened at $76.30 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.71 and a quick ratio of 2.11. The stock has a market capitalization of $38.52 billion, a price-to-earnings ratio of 11.19 and a beta of 0.65. AngloGold Ashanti has a 1 year low of $45.36 and a 1 year high of $129.14. The business’s 50 day simple moving average is $88.43 and its 200-day simple moving average is $96.96.

AngloGold Ashanti (NYSE:AU) last posted its earnings results on Friday, May 8th. The mining company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.25. AngloGold Ashanti had a net margin of 31.11% and a return on equity of 36.41%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.26 billion. As a group, equities analysts expect that AngloGold Ashanti will post 8.91 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 6.1%. The ex-dividend date was Friday, May 29th. This is a positive change from AngloGold Ashanti’s previous quarterly dividend of $0.17. AngloGold Ashanti’s payout ratio is currently 68.04%.

Institutional Trading of AngloGold Ashanti

Several institutional investors have recently added to or reduced their stakes in AU. Ascentis Independent Advisors bought a new position in shares of AngloGold Ashanti during the first quarter valued at approximately $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of AngloGold Ashanti in the fourth quarter worth approximately $31,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of AngloGold Ashanti during the 4th quarter worth approximately $34,000. Mcguire Capital Advisors Inc. bought a new stake in shares of AngloGold Ashanti during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC boosted its holdings in AngloGold Ashanti by 454.1% during the 4th quarter. Global Retirement Partners LLC now owns 471 shares of the mining company’s stock valued at $40,000 after acquiring an additional 386 shares during the period. 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.