AngloGold Ashanti (NYSE:AU) Shares Gap Down – Here’s What Happened

Shares of AngloGold Ashanti PLC (NYSE:AU) gapped down prior to trading on Thursday . The stock had previously closed at $108.53, but opened at $102.56. AngloGold Ashanti shares last traded at $104.1730, with a volume of 397,073 shares traded.

Analyst Ratings Changes

AU has been the topic of a number of recent research reports. Weiss Ratings lowered AngloGold Ashanti from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Freedom Capital upgraded AngloGold Ashanti to a “strong-buy” rating in a report on Friday, June 26th. Citigroup lowered their price objective on AngloGold Ashanti from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. BMO Capital Markets cut AngloGold Ashanti from an “outperform” rating to a “market perform” rating and set a $115.00 price objective for the company. in a report on Thursday. Finally, Wall Street Zen lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.14.

AngloGold Ashanti Stock Performance

The company has a quick ratio of 2.07, a current ratio of 2.71 and a debt-to-equity ratio of 0.15. The stock has a market cap of $52.56 billion, a P/E ratio of 13.97 and a beta of 0.74. The stock has a fifty day simple moving average of $93.86 and a 200-day simple moving average of $96.24.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.20 billion. AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. Equities analysts expect that AngloGold Ashanti PLC will post 8.14 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were issued a dividend of $0.72 per share. The ex-dividend date was Friday, August 21st. This represents a $2.88 dividend on an annualized basis and a yield of 2.8%. AngloGold Ashanti’s payout ratio is currently 6.70%.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds have recently bought and sold shares of the company. Ascentis Independent Advisors bought a new stake in shares of AngloGold Ashanti in the 1st quarter valued at $26,000. Zions Bancorporation National Association UT bought a new position in AngloGold Ashanti during the fourth quarter worth about $31,000. Ancora Advisors LLC acquired a new position in AngloGold Ashanti in the second quarter valued at about $30,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of AngloGold Ashanti in the fourth quarter worth about $34,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of AngloGold Ashanti in the fourth quarter worth about $36,000. 36.09% of the stock is currently owned by institutional investors and hedge funds.

About AngloGold Ashanti

AngloGold Ashanti plc is a global gold mining company that explores for, develops, and operates gold mines. Its primary product is gold, with silver and other minerals produced as byproducts at some operations. The company also manages mineral exploration, mine development, processing, and related reclamation activities.

AngloGold Ashanti operates across several regions, including Africa, Australia, and the Americas. Its portfolio has included mines and projects in Ghana, Guinea, Tanzania, Australia, Brazil, and Argentina, supported by exploration programs in other prospective mining jurisdictions.