AngloGold Ashanti (NYSE:AU) Issues Earnings Results, Beats Estimates By $0.25 EPS

AngloGold Ashanti (NYSE:AU) posted its quarterly earnings data on Friday. The mining company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.25, Zacks reports. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.26 billion. AngloGold Ashanti had a return on equity of 29.11% and a net margin of 26.65%.

AngloGold Ashanti Trading Up 6.9%

NYSE:AU traded up $6.91 during mid-day trading on Friday, reaching $107.14. The company’s stock had a trading volume of 2,749,655 shares, compared to its average volume of 2,277,882. The company’s fifty day simple moving average is $101.71 and its two-hundred day simple moving average is $93.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.87 and a quick ratio of 2.20. AngloGold Ashanti has a twelve month low of $38.61 and a twelve month high of $129.14. The stock has a market cap of $54.09 billion, a P/E ratio of 20.64 and a beta of 0.60.

AngloGold Ashanti Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, May 29th. This is an increase from AngloGold Ashanti’s previous quarterly dividend of $0.17. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.3%. AngloGold Ashanti’s dividend payout ratio is 133.33%.

Hedge Funds Weigh In On AngloGold Ashanti

Large investors have recently modified their holdings of the company. Zions Bancorporation National Association UT purchased a new position in shares of AngloGold Ashanti in the 4th quarter worth about $31,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of AngloGold Ashanti in the 4th quarter worth about $34,000. Ancora Advisors LLC purchased a new position in shares of AngloGold Ashanti in the 3rd quarter worth about $35,000. Mcguire Capital Advisors Inc. purchased a new position in shares of AngloGold Ashanti in the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC raised its holdings in shares of AngloGold Ashanti by 454.1% in the 4th quarter. Global Retirement Partners LLC now owns 471 shares of the mining company’s stock worth $40,000 after purchasing an additional 386 shares during the period. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Zacks Research cut AngloGold Ashanti from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Citigroup upped their price target on AngloGold Ashanti from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Roth Mkm restated a “buy” rating and set a $122.00 price target on shares of AngloGold Ashanti in a research note on Friday, February 20th. Weiss Ratings cut AngloGold Ashanti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Finally, Scotiabank cut their price target on AngloGold Ashanti from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, March 20th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $112.20.

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.