AngloGold Ashanti (NYSE:AU) Price Target Raised to $119.00

AngloGold Ashanti (NYSE:AU) had its price target boosted by Royal Bank Of Canada from $111.00 to $119.00 in a research report released on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the mining company’s stock.

Several other brokerages have also weighed in on AU. Roth Capital dropped their price objective on shares of AngloGold Ashanti from $121.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Zacks Research raised shares of AngloGold Ashanti from a “strong sell” rating to a “hold” rating in a report on Friday, September 11th. Freedom Capital upgraded shares of AngloGold Ashanti to a “strong-buy” rating in a research note on Friday, June 26th. Scotiabank lowered their price target on shares of AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Finally, Wall Street Zen downgraded shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.14.

AngloGold Ashanti Stock Up 0.4%

AU stock opened at $102.77 on Wednesday. The company has a current ratio of 2.71, a quick ratio of 2.07 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $51.89 billion, a PE ratio of 13.78 and a beta of 0.74. AngloGold Ashanti has a 1-year low of $62.55 and a 1-year high of $129.14. The business’s 50 day simple moving average is $96.57 and its 200 day simple moving average is $95.40.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($0.05). AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. As a group, research analysts anticipate that AngloGold Ashanti will post 8.27 EPS for the current year.

AngloGold Ashanti Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were given a dividend of $0.72 per share. The ex-dividend date was Friday, August 21st. This represents a $2.88 annualized dividend and a yield of 2.8%. AngloGold Ashanti’s dividend payout ratio (DPR) is presently 6.70%.

Institutional Investors Weigh In On AngloGold Ashanti

Institutional investors have recently modified their holdings of the business. Ascentis Independent Advisors acquired a new position in shares of AngloGold Ashanti in the first quarter valued at about $26,000. Ancora Advisors LLC acquired a new stake in AngloGold Ashanti in the 2nd quarter worth about $30,000. Reflection Asset Management acquired a new stake in AngloGold Ashanti in the 4th quarter worth about $42,000. Ameritas Advisory Services LLC bought a new stake in AngloGold Ashanti in the 2nd quarter valued at about $51,000. Finally, KBC Group NV bought a new stake in AngloGold Ashanti in the 1st quarter valued at about $55,000. Institutional investors own 36.09% of the company’s stock.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc is a global gold mining company that explores for, develops, and operates gold mines. Its primary product is gold, with silver and other minerals produced as byproducts at some operations. The company also manages mineral exploration, mine development, processing, and related reclamation activities.

AngloGold Ashanti operates across several regions, including Africa, Australia, and the Americas. Its portfolio has included mines and projects in Ghana, Guinea, Tanzania, Australia, Brazil, and Argentina, supported by exploration programs in other prospective mining jurisdictions.