AngloGold Ashanti (NYSE:AU) Sees Strong Trading Volume – Should You Buy?

AngloGold Ashanti plc (NYSE:AU) saw an uptick in trading volume on Wednesday . 1,132,669 shares traded hands during mid-day trading, a decline of 42% from the previous session’s volume of 1,961,029 shares.The stock last traded at $27.90 and had previously closed at $27.55.

Analysts Set New Price Targets

AU has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. StockNews.com upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Scotiabank reiterated a “sector underperform” rating and set a $30.00 price objective (up previously from $27.00) on shares of AngloGold Ashanti in a research report on Monday, August 19th. Finally, BMO Capital Markets lifted their price objective on AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, AngloGold Ashanti has an average rating of “Hold” and a consensus target price of $33.67.

AngloGold Ashanti Price Performance

The company’s 50-day simple moving average is $28.73 and its 200-day simple moving average is $26.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.83 and a quick ratio of 1.19.

AngloGold Ashanti (NYSE:AU) last announced its earnings results on Tuesday, August 6th. The mining company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.09. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, analysts anticipate that AngloGold Ashanti plc will post 2.58 EPS for the current fiscal year.

AngloGold Ashanti Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.22 dividend. This represents a dividend yield of 0.7%. This is a positive change from AngloGold Ashanti’s previous Semi-Annual dividend of $0.19. The ex-dividend date was Friday, August 30th.

Institutional Trading of AngloGold Ashanti

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in AngloGold Ashanti by 36.1% during the 1st quarter. CWM LLC now owns 1,890 shares of the mining company’s stock worth $42,000 after buying an additional 501 shares during the last quarter. GAMMA Investing LLC raised its position in shares of AngloGold Ashanti by 108.9% during the 1st quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock valued at $56,000 after acquiring an additional 1,306 shares in the last quarter. Blue Trust Inc. lifted its stake in AngloGold Ashanti by 338.3% during the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock worth $87,000 after purchasing an additional 2,679 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in AngloGold Ashanti by 32.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company’s stock worth $79,000 after purchasing an additional 1,032 shares during the period. Finally, SG Americas Securities LLC bought a new stake in AngloGold Ashanti during the third quarter valued at $126,000. 36.09% of the stock is 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.