AngloGold Ashanti (NYSE:AU) Stock Price Down 9.7% – Here’s Why

AngloGold Ashanti PLC (NYSE:AU) shares were down 9.7% on Thursday . The stock traded as low as $104.58 and last traded at $104.4390. Approximately 3,147,757 shares traded hands during trading, an increase of 13% from the average daily volume of 2,786,994 shares. The stock had previously closed at $115.72.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Roth Mkm raised their price target on shares of AngloGold Ashanti from $84.00 to $92.00 and gave the company a “buy” rating in a report on Monday, December 15th. JPMorgan Chase & Co. raised their target price on AngloGold Ashanti from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. HSBC reiterated a “reduce” rating and set a $55.00 price target on shares of AngloGold Ashanti in a research note on Thursday, October 9th. Wall Street Zen raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of AngloGold Ashanti in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.00.

AngloGold Ashanti Trading Down 13.3%

The company has a market capitalization of $38.94 billion, a P/E ratio of 20.43 and a beta of 0.58. The company has a 50-day simple moving average of $91.23 and a 200 day simple moving average of $73.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.98 and a current ratio of 2.58.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings data 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 company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.53 billion. AngloGold Ashanti had a return on equity of 24.01% and a net margin of 26.25%. Sell-side analysts expect that AngloGold Ashanti PLC will post 3.83 earnings per share for the current year.

AngloGold Ashanti Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $3.64 dividend on an annualized basis and a yield of 3.9%. AngloGold Ashanti’s dividend payout ratio (DPR) is 80.18%.

Institutional Trading of AngloGold Ashanti

Several institutional investors have recently modified their holdings of the company. Empowered Funds LLC bought a new position in AngloGold Ashanti in the first quarter worth $321,000. Farther Finance Advisors LLC lifted its holdings in shares of AngloGold Ashanti by 579.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,664 shares of the mining company’s stock worth $76,000 after acquiring an additional 1,419 shares during the period. Ascent Group LLC lifted its holdings in shares of AngloGold Ashanti by 38.8% during the 2nd quarter. Ascent Group LLC now owns 8,623 shares of the mining company’s stock worth $393,000 after acquiring an additional 2,409 shares during the period. 111 Capital acquired a new stake in shares of AngloGold Ashanti during the 2nd quarter valued at about $293,000. Finally, Euro Pacific Asset Management LLC bought a new stake in AngloGold Ashanti in the second quarter valued at about $1,625,000. Institutional investors and hedge funds own 36.09% of the company’s stock.

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.