AngloGold Ashanti (NYSE:AU) Trading 6.5% Higher on Analyst Upgrade

AngloGold Ashanti PLC (NYSE:AU) shares shot up 6.5% during trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $111.77 and last traded at $113.1820. 675,958 shares traded hands during trading, a decline of 72% from the average session volume of 2,436,878 shares. The stock had previously closed at $106.26.

A number of other research analysts have also recently commented on AU. Scotiabank boosted their price target on AngloGold Ashanti from $92.00 to $131.00 and gave the stock an “outperform” rating in a report on Monday. Wall Street Zen raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Roth Mkm lifted their price objective on AngloGold Ashanti from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of AngloGold Ashanti in a report on Wednesday, January 21st. Finally, HSBC reaffirmed a “reduce” rating and set a $55.00 price target on shares of AngloGold Ashanti in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Institutional Trading of AngloGold Ashanti

A number of hedge funds have recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC bought a new position in shares of AngloGold Ashanti during the third quarter valued at approximately $25,000. UMB Bank n.a. boosted its holdings in AngloGold Ashanti by 129.0% in the third quarter. UMB Bank n.a. now owns 490 shares of the mining company’s stock worth $34,000 after acquiring an additional 276 shares in the last quarter. Optimum Investment Advisors acquired a new stake in AngloGold Ashanti in the 3rd quarter worth approximately $35,000. Ancora Advisors LLC acquired a new stake in shares of AngloGold Ashanti during the third quarter worth $35,000. Finally, CIBC Private Wealth Group LLC lifted its position in AngloGold Ashanti by 33.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 599 shares of the mining company’s stock worth $42,000 after acquiring an additional 150 shares during the period. 36.09% of the stock is owned by hedge funds and other institutional investors.

AngloGold Ashanti Trading Up 5.7%

The stock has a 50-day moving average of $90.41 and a 200 day moving average of $72.75. The stock has a market cap of $45.94 billion, a PE ratio of 25.49 and a beta of 0.58. The company has a quick ratio of 1.98, a current ratio of 2.58 and a debt-to-equity ratio of 0.21.

AngloGold Ashanti (NYSE:AU) last issued its earnings results on Wednesday, November 12th. The mining company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.02). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.53 billion. AngloGold Ashanti had a return on equity of 24.01% and a net margin of 26.25%. As a group, sell-side analysts anticipate that AngloGold Ashanti PLC will post 3.83 earnings per share for the current year.

AngloGold Ashanti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, November 28th. AngloGold Ashanti’s dividend payout ratio is presently 80.18%.

About AngloGold Ashanti

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by?products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.