Analysts Set AngloGold Ashanti plc (NYSE:AU) Target Price at $24.25

AngloGold Ashanti plc (NYSE:AU) has received an average recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $24.25.

Several equities analysts have weighed in on the company. StockNews.com upgraded AngloGold Ashanti from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. HSBC lowered shares of AngloGold Ashanti from a “hold” rating to a “reduce” rating in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AngloGold Ashanti from $23.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in AngloGold Ashanti by 36.1% in the first quarter. CWM LLC now owns 1,890 shares of the mining company’s stock valued at $42,000 after purchasing an additional 501 shares during the last quarter. GAMMA Investing LLC lifted its holdings in AngloGold Ashanti by 108.9% during the first quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock valued at $56,000 after purchasing an additional 1,306 shares during the last quarter. Gradient Investments LLC boosted its position in AngloGold Ashanti by 187.9% during the third quarter. Gradient Investments LLC now owns 3,677 shares of the mining company’s stock worth $58,000 after purchasing an additional 2,400 shares during the period. Blue Trust Inc. boosted its position in AngloGold Ashanti by 132.0% during the fourth quarter. Blue Trust Inc. now owns 4,023 shares of the mining company’s stock worth $75,000 after purchasing an additional 2,289 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in AngloGold Ashanti by 32.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company’s stock valued at $79,000 after buying an additional 1,032 shares in the last quarter. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

AngloGold Ashanti Stock Performance

AU stock opened at $23.57 on Friday. AngloGold Ashanti has a twelve month low of $14.91 and a twelve month high of $28.87. The stock’s 50 day moving average is $22.42 and its 200-day moving average is $19.46.

AngloGold Ashanti Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.19 per share. This represents a dividend yield of 1.1%. This is a boost from AngloGold Ashanti’s previous semi-annual dividend of $0.03. The ex-dividend date was Thursday, March 14th.

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.