AngloGold Ashanti (NYSE:AU) Sets New 1-Year High – Time to Buy?

AngloGold Ashanti plc (NYSE:AU) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $34.75 and last traded at $34.46, with a volume of 482149 shares. The stock had previously closed at $32.99.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Scotiabank boosted their target price on AngloGold Ashanti from $30.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of AngloGold Ashanti in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $34.00.

AngloGold Ashanti Price Performance

The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $14.32 billion, a PE ratio of 10.62 and a beta of 0.92. The stock has a fifty day simple moving average of $29.96 and a 200-day simple moving average of $27.72.

AngloGold Ashanti (NYSE:AU) last posted its earnings results on Wednesday, February 19th. The mining company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.10). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Equities analysts anticipate that AngloGold Ashanti plc will post 3.83 earnings per share for the current year.

AngloGold Ashanti Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.69 dividend. This is an increase from AngloGold Ashanti’s previous semi-annual dividend of $0.22. This represents a dividend yield of 2.8%. The ex-dividend date is Friday, March 14th. AngloGold Ashanti’s payout ratio is presently 43.13%.

Institutional Trading of AngloGold Ashanti

Several institutional investors and hedge funds have recently made changes to their positions in AU. Whittier Trust Co. purchased a new stake in shares of AngloGold Ashanti in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its stake in AngloGold Ashanti by 210.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company’s stock valued at $27,000 after acquiring an additional 796 shares during the last quarter. Hara Capital LLC purchased a new stake in AngloGold Ashanti during the 4th quarter valued at approximately $29,000. Nomura Asset Management Co. Ltd. purchased a new stake in AngloGold Ashanti during the 4th quarter valued at approximately $32,000. Finally, R Squared Ltd purchased a new stake in AngloGold Ashanti during the 4th quarter valued at approximately $36,000. 36.09% of the stock is owned by hedge funds and other institutional investors.

About AngloGold Ashanti

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.