AngloGold Ashanti (NYSE:AU) Hits New 12-Month High – Should You Buy?

AngloGold Ashanti PLC (NYSE:AU) shares reached a new 52-week high during trading on Thursday . The company traded as high as $73.22 and last traded at $71.79, with a volume of 2778390 shares. The stock had previously closed at $70.33.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Scotiabank reiterated a “sector perform” rating and issued a $55.00 price objective on shares of AngloGold Ashanti in a research report on Monday, August 11th. Zacks Research raised shares of AngloGold Ashanti from a “strong sell” rating to a “hold” rating in a report on Monday. Wall Street Zen raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Friday, September 26th. Roth Capital reaffirmed a “buy” rating on shares of AngloGold Ashanti in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. increased their target price on AngloGold Ashanti from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, AngloGold Ashanti currently has an average rating of “Hold” and a consensus price target of $49.60.

AngloGold Ashanti Trading Up 2.1%

The business’s 50-day moving average price is $58.90 and its two-hundred day moving average price is $48.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.22. The firm has a market cap of $30.13 billion, a price-to-earnings ratio of 19.09 and a beta of 0.53.

AngloGold Ashanti (NYSE:AU) last announced its earnings results on Friday, August 1st. The mining company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.06). AngloGold Ashanti had a return on equity of 22.54% and a net margin of 23.60%.The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.29 billion. Equities analysts expect that AngloGold Ashanti PLC will post 3.83 earnings per share for the current year.

AngloGold Ashanti Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.80 per share. This represents a dividend yield of 610.0%. This is a positive change from AngloGold Ashanti’s previous semi-annual dividend of $0.69. The ex-dividend date was Friday, August 22nd. AngloGold Ashanti’s payout ratio is 85.11%.

Institutional Trading of AngloGold Ashanti

Hedge funds have recently added to or reduced their stakes in the business. Global Trust Asset Management LLC acquired a new stake in AngloGold Ashanti in the 1st quarter worth about $30,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of AngloGold Ashanti in the first quarter worth approximately $30,000. Financial Management Professionals Inc. acquired a new stake in shares of AngloGold Ashanti in the second quarter worth approximately $30,000. SVB Wealth LLC acquired a new stake in shares of AngloGold Ashanti in the first quarter worth approximately $32,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of AngloGold Ashanti by 30.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the mining company’s stock worth $47,000 after acquiring an additional 238 shares during the last quarter. 36.09% of the stock is owned by institutional investors and hedge funds.

About AngloGold Ashanti

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.