AngloGold Ashanti (NYSE:AU) Price Target Raised to $140.00

by · The Markets Daily

AngloGold Ashanti (NYSE:AU – Free Report) had its price objective increased by JPMorgan Chase & Co. from $134.00 to $140.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the mining company’s stock.

AU has been the subject of several other reports. Freedom Capital raised shares of AngloGold Ashanti to a “strong-buy” rating in a research note on Friday, June 26th. Royal Bank Of Canada cut their target price on AngloGold Ashanti from $114.00 to $111.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. BMO Capital Markets downgraded AngloGold Ashanti from an “outperform” rating to a “market perform” rating and set a $115.00 price target on the stock. in a report on Thursday, September 10th. Wall Street Zen lowered AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Scotiabank dropped their price objective on AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.14.

Get Our Latest Stock Analysis on AngloGold Ashanti

AngloGold Ashanti Stock Up 2.8%

Shares of NYSE AU opened at $102.50 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.71 and a debt-to-equity ratio of 0.15. AngloGold Ashanti has a 52 week low of $62.55 and a 52 week high of $129.14. The firm’s fifty day moving average is $96.16 and its 200 day moving average is $95.35. The company has a market cap of $51.75 billion, a price-to-earnings ratio of 13.74 and a beta of 0.74.

AngloGold Ashanti (NYSE:AU – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.20 billion. AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. On average, equities research analysts expect that AngloGold Ashanti will post 8.27 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 21st were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 21st. AngloGold Ashanti’s dividend payout ratio (DPR) is currently 6.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in AngloGold Ashanti by 1.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,386,503 shares of the mining company’s stock worth $620,874,000 after purchasing an additional 98,250 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of AngloGold Ashanti by 3.9% during the 4th quarter. Deutsche Bank AG now owns 5,121,189 shares of the mining company’s stock valued at $436,735,000 after buying an additional 191,859 shares in the last quarter. Norges Bank purchased a new stake in shares of AngloGold Ashanti in the 4th quarter worth about $426,477,000. Geode Capital Management LLC increased its stake in shares of AngloGold Ashanti by 29.8% in the 4th quarter. Geode Capital Management LLC now owns 4,684,560 shares of the mining company’s stock worth $419,256,000 after acquiring an additional 1,074,822 shares in the last quarter. Finally, Capital World Investors lifted its position in AngloGold Ashanti by 64.5% during the 4th quarter. Capital World Investors now owns 4,186,463 shares of the mining company’s stock valued at $357,022,000 after acquiring an additional 1,641,545 shares during the period. Hedge funds and other institutional investors own 36.09% of the company’s stock.

AngloGold Ashanti Company Profile

(Get Free Report)

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.

Read More