AngloGold Ashanti (NYSE:AU) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of AngloGold Ashanti (NYSE:AU) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other brokerages have also commented on AU. Zacks Research lowered AngloGold Ashanti from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Scotiabank lowered their target price on shares of AngloGold Ashanti from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. Citigroup upped their price target on shares of AngloGold Ashanti from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. raised their price objective on shares of AngloGold Ashanti from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, December 3rd. Finally, Weiss Ratings upgraded AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.33.

AngloGold Ashanti Price Performance

Shares of NYSE:AU opened at $90.54 on Friday. The firm’s 50 day moving average is $104.69 and its two-hundred day moving average is $88.02. The firm has a market capitalization of $45.71 billion, a P/E ratio of 17.44 and a beta of 0.55. The company has a current ratio of 2.87, a quick ratio of 2.20 and a debt-to-equity ratio of 0.20. AngloGold Ashanti has a 52 week low of $31.91 and a 52 week high of $129.14.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings data on Friday, February 20th. The mining company reported $1.90 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.90. AngloGold Ashanti had a return on equity of 29.11% and a net margin of 26.65%.The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.99 billion. Analysts anticipate that AngloGold Ashanti will post 3.83 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.173 per share. The ex-dividend date was Friday, March 13th. This represents a $0.69 annualized dividend and a dividend yield of 0.8%. AngloGold Ashanti’s dividend payout ratio (DPR) is 133.33%.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds have recently made changes to their positions in the business. HHM Wealth Advisors LLC bought a new stake in AngloGold Ashanti during the third quarter worth approximately $25,000. Zions Bancorporation National Association UT acquired a new position in AngloGold Ashanti in the fourth quarter worth approximately $31,000. UMB Bank n.a. increased its holdings in shares of AngloGold Ashanti by 129.0% in the third quarter. UMB Bank n.a. now owns 490 shares of the mining company’s stock valued at $34,000 after buying an additional 276 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of AngloGold Ashanti in the fourth quarter valued at $34,000. Finally, Optimum Investment Advisors acquired a new stake in shares of AngloGold Ashanti during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 36.09% of the company’s stock.

AngloGold Ashanti Company Profile

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.