AngloGold Ashanti (NYSE:AU) Reaches New 52-Week High – Here’s Why

AngloGold Ashanti PLC (NYSE:AU)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $105.14 and last traded at $106.0110, with a volume of 654027 shares. The stock had previously closed at $99.03.

Analyst Ratings Changes

AU has been the subject of several recent research reports. Zacks Research lowered shares of AngloGold Ashanti from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Roth Mkm lifted their price objective on AngloGold Ashanti from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. boosted their target price on AngloGold Ashanti from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. Wall Street Zen upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, HSBC reiterated a “reduce” rating and issued a $55.00 price target on shares of AngloGold Ashanti in a research note on Thursday, October 9th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.50.

AngloGold Ashanti Trading Up 0.5%

The stock has a market cap of $44.84 billion, a price-to-earnings ratio of 22.41 and a beta of 0.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.58 and a quick ratio of 1.98. The company’s fifty day moving average price is $87.56 and its 200-day moving average price is $70.59.

AngloGold Ashanti (NYSE:AU) last posted its quarterly earnings results on Wednesday, November 12th. The mining company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.02). AngloGold Ashanti had a return on equity of 24.01% and a net margin of 26.25%.The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.53 billion. On average, research analysts expect that AngloGold Ashanti PLC will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Friday, November 28th. AngloGold Ashanti’s dividend payout ratio (DPR) is presently 80.18%.

Institutional Investors Weigh In On AngloGold Ashanti

A number of large investors have recently bought and sold shares of AU. Lesa Sroufe & Co raised its position in AngloGold Ashanti by 1.2% during the 4th quarter. Lesa Sroufe & Co now owns 86,910 shares of the mining company’s stock worth $7,412,000 after buying an additional 1,012 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of AngloGold Ashanti by 1.3% during the fourth quarter. Yousif Capital Management LLC now owns 13,570 shares of the mining company’s stock worth $1,157,000 after purchasing an additional 171 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its position in AngloGold Ashanti by 1.0% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 93,775 shares of the mining company’s stock valued at $7,997,000 after purchasing an additional 935 shares during the period. Aaron Wealth Advisors LLC acquired a new position in AngloGold Ashanti during the fourth quarter valued at $221,000. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. boosted its holdings in AngloGold Ashanti by 4.7% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 26,800 shares of the mining company’s stock valued at $2,319,000 after purchasing an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors 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.