Analysts Set AngloGold Ashanti PLC (NYSE:AU) Price Target at $110.50

AngloGold Ashanti PLC (NYSE:AU) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $110.50.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of AngloGold Ashanti from $155.00 to $134.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Freedom Capital upgraded shares of AngloGold Ashanti to a “strong-buy” rating in a research report on Friday, June 26th. Roth Capital dropped their price objective on shares of AngloGold Ashanti from $121.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Scotiabank cut their target price on shares of AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Finally, Zacks Research cut AngloGold Ashanti from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th.

AngloGold Ashanti Stock Performance

NYSE:AU opened at $97.88 on Thursday. The stock has a market cap of $49.42 billion, a P/E ratio of 13.12 and a beta of 0.66. The company has a quick ratio of 2.11, a current ratio of 2.71 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $83.89 and its two-hundred day moving average price is $95.61. AngloGold Ashanti has a twelve month low of $52.05 and a twelve month high of $129.14.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings data on Thursday, July 30th. The mining company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.05). The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.20 billion. AngloGold Ashanti had a return on equity of 39.54% and a net margin of 32.19%. As a group, equities analysts predict that AngloGold Ashanti will post 8.19 EPS for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, August 21st. AngloGold Ashanti’s dividend payout ratio is presently 62.20%.

Hedge Funds Weigh In On AngloGold Ashanti

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC grew its position in AngloGold Ashanti by 3.6% during the fourth quarter. Parallel Advisors LLC now owns 2,777 shares of the mining company’s stock valued at $237,000 after acquiring an additional 96 shares during the last quarter. PDS Planning Inc lifted its holdings in shares of AngloGold Ashanti by 3.0% in the 4th quarter. PDS Planning Inc now owns 4,246 shares of the mining company’s stock worth $362,000 after acquiring an additional 124 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of AngloGold Ashanti by 0.5% in the 3rd quarter. California State Teachers Retirement System now owns 31,919 shares of the mining company’s stock valued at $2,245,000 after purchasing an additional 147 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of AngloGold Ashanti by 33.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 599 shares of the mining company’s stock valued at $42,000 after purchasing an additional 150 shares during the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of AngloGold Ashanti by 1.3% during the 4th quarter. Yousif Capital Management LLC now owns 13,570 shares of the mining company’s stock valued at $1,157,000 after purchasing an additional 171 shares during the last quarter. 36.09% of the stock is currently owned by institutional investors.

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.