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

Shares of AngloGold Ashanti PLC (NYSE:AU) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $91.12 and last traded at $90.2820, with a volume of 7232 shares changing hands. The stock had previously closed at $89.91.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AU shares. Scotiabank boosted their price target on AngloGold Ashanti from $90.00 to $92.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 12th. Wall Street Zen upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Roth Capital lifted their price objective on shares of AngloGold Ashanti from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Citigroup upped their price objective on shares of AngloGold Ashanti from $90.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of AngloGold Ashanti from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

AngloGold Ashanti Stock Performance

The stock has a 50 day moving average of $78.62 and a 200 day moving average of $64.31. The company has a quick ratio of 1.98, a current ratio of 2.58 and a debt-to-equity ratio of 0.21. The firm has a market cap of $37.78 billion, a price-to-earnings ratio of 20.04 and a beta of 0.58.

AngloGold Ashanti (NYSE:AU) last released its earnings results on Wednesday, November 12th. The mining company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.02). AngloGold Ashanti had a net margin of 26.25% and a return on equity of 24.01%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.53 billion. As a group, analysts anticipate that AngloGold Ashanti PLC will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were paid a $0.91 dividend. The ex-dividend date was Friday, November 28th. This represents a $3.64 annualized dividend and a dividend yield of 4.0%. AngloGold Ashanti’s dividend payout ratio (DPR) is presently 80.18%.

Institutional Trading of AngloGold Ashanti

Several large investors have recently bought and sold shares of the business. HHM Wealth Advisors LLC acquired a new stake in shares of AngloGold Ashanti in the 3rd quarter valued at approximately $25,000. Financial Management Professionals Inc. bought a new position in AngloGold Ashanti in the 2nd quarter valued at approximately $30,000. SVB Wealth LLC bought a new position in AngloGold Ashanti in the 1st quarter valued at approximately $32,000. UMB Bank n.a. boosted its position in 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. Finally, Ancora Advisors LLC bought a new stake in shares of AngloGold Ashanti during the third quarter worth $35,000. 36.09% of the stock is owned by institutional investors and hedge funds.

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.