AngloGold Ashanti (NYSE:AU) Shares Gap Up – Here’s Why

AngloGold Ashanti plc (NYSE:AU) gapped up before the market opened on Tuesday . The stock had previously closed at $34.86, but opened at $35.68. AngloGold Ashanti shares last traded at $35.89, with a volume of 336,613 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on AU. JPMorgan Chase & Co. reduced 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. Scotiabank raised their target price on AngloGold Ashanti from $30.00 to $34.00 and gave the company a “sector perform” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of AngloGold Ashanti in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, AngloGold Ashanti currently has an average rating of “Hold” and an average target price of $34.00.

AngloGold Ashanti Price Performance

The company has a market cap of $14.92 billion, a price-to-earnings ratio of 11.11 and a beta of 0.92. The company has a fifty day simple moving average of $31.31 and a two-hundred day simple moving average of $28.04. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.10). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. On average, equities research analysts anticipate that AngloGold Ashanti plc will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.69 per share. This is an increase from AngloGold Ashanti’s previous semi-annual dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a yield of 2.8%. AngloGold Ashanti’s dividend payout ratio (DPR) is presently 43.13%.

Institutional Trading of AngloGold Ashanti

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

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.