RBC Dominion Securities Reiterates $110.00 Price Target for AngloGold Ashanti (NYSE:AU)

RBC Dominion Securities set a $110.00 price objective on AngloGold Ashanti (NYSE:AU) in a report released on Thursday morning,BayStreet reports. The firm currently has an outperform rating on the mining company’s stock.

AU has been the subject of several other reports. Weiss Ratings upgraded shares of AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 12th. Royal Bank Of Canada upped their price objective on shares of AngloGold Ashanti from $111.00 to $119.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Zacks Research raised shares of AngloGold Ashanti from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th. The Goldman Sachs Group initiated coverage on AngloGold Ashanti in a report on Thursday, October 15th. They issued a “buy” rating and a $104.00 price objective on the stock. Finally, Roth Capital decreased their price objective on shares of AngloGold Ashanti from $121.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $118.06.

AngloGold Ashanti Trading Down 2.0%

NYSE AU opened at $83.46 on Thursday. The company has a market capitalization of $42.14 billion, a PE ratio of 11.19 and a beta of 0.73. The company has a fifty day moving average of $101.21 and a 200 day moving average of $94.42. AngloGold Ashanti has a 1 year low of $62.55 and a 1 year high of $129.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.07.

AngloGold Ashanti (NYSE:AU) last issued its 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). AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Research analysts forecast that AngloGold Ashanti will post 8.18 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were paid 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 3.5%. This is a decrease from AngloGold Ashanti’s previous quarterly dividend of $1.16. AngloGold Ashanti’s dividend payout ratio (DPR) is currently 6.70%.

Hedge Funds Weigh In On AngloGold Ashanti

A number of institutional investors and hedge funds have recently made changes to their positions in AU. Apollon Wealth Management LLC bought a new stake in shares of AngloGold Ashanti in the third quarter valued at about $237,000. Signaturefd LLC increased its stake in AngloGold Ashanti by 31.1% during the third quarter. Signaturefd LLC now owns 7,917 shares of the mining company’s stock valued at $744,000 after acquiring an additional 1,878 shares during the period. Inspire Investing LLC raised its holdings in AngloGold Ashanti by 19.5% in the 3rd quarter. Inspire Investing LLC now owns 29,415 shares of the mining company’s stock valued at $2,764,000 after acquiring an additional 4,791 shares in the last quarter. XXI Wealth LLC grew its holdings in shares of AngloGold Ashanti by 38.6% during the 3rd quarter. XXI Wealth LLC now owns 7,000 shares of the mining company’s stock worth $658,000 after purchasing an additional 1,949 shares in the last quarter. Finally, Yousif Capital Management LLC increased its position in shares of AngloGold Ashanti by 2.1% during the third quarter. Yousif Capital Management LLC now owns 7,502 shares of the mining company’s stock valued at $705,000 after purchasing an additional 156 shares during the period. 36.09% of the stock is owned by institutional investors and hedge funds.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc is a global gold mining company engaged in the exploration, development, and operation of gold mines. Its principal product is refined gold, and the company also produces related byproducts at certain operations. In addition to operating mines, AngloGold Ashanti maintains exploration and development projects intended to expand and sustain its production portfolio.

The company has a geographically diversified portfolio spanning Africa, Australia, and the Americas. Its operations and projects have included assets in Ghana, Tanzania, Guinea, Côte d’Ivoire, the Democratic Republic of the Congo, Australia, Brazil, and Argentina.