AngloGold Ashanti (NYSE:AU) Reaches New 52-Week High – What’s Next?

AngloGold Ashanti PLC (NYSE:AU) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $97.49 and last traded at $97.3020, with a volume of 280959 shares trading hands. The stock had previously closed at $92.25.

Analyst Ratings Changes

AU has been the subject of several research reports. Citigroup boosted their target price on AngloGold Ashanti from $90.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. 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 boosted their price objective on AngloGold Ashanti from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Wall Street Zen upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Zacks Research cut shares of AngloGold Ashanti from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.00.

AngloGold Ashanti Stock Up 6.3%

The firm has a 50 day simple moving average of $83.06 and a two-hundred day simple moving average of $67.73. The company has a market capitalization of $41.17 billion, a PE ratio of 21.57 and a beta of 0.58. The company has a current ratio of 2.58, a quick ratio of 1.98 and a debt-to-equity ratio of 0.21.

AngloGold Ashanti (NYSE:AU) last released its quarterly 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 company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Research analysts expect that AngloGold Ashanti PLC will post 3.83 EPS for the current year.

AngloGold Ashanti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a dividend of $0.91 per share. The ex-dividend date was Friday, November 28th. This represents a $3.64 dividend on an annualized basis and a yield of 3.7%. AngloGold Ashanti’s dividend payout ratio is presently 80.18%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in AngloGold Ashanti during the first quarter worth about $321,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in AngloGold Ashanti by 25.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,963,318 shares of the mining company’s stock worth $72,878,000 after purchasing an additional 398,684 shares during the period. Acadian Asset Management LLC purchased a new position in shares of AngloGold Ashanti during the 1st quarter worth approximately $5,538,000. Rhumbline Advisers raised its stake in shares of AngloGold Ashanti by 194.3% during the 1st quarter. Rhumbline Advisers now owns 31,619 shares of the mining company’s stock worth $1,174,000 after buying an additional 20,874 shares in the last quarter. Finally, TrueWealth Advisors LLC acquired a new stake in shares of AngloGold Ashanti in the 2nd quarter valued at approximately $547,000. 36.09% of the stock is currently owned by institutional investors and hedge funds.

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.