AngloGold Ashanti (NYSE:AU) Shares Down 3.8% – Here’s What Happened

AngloGold Ashanti plc (NYSE:AU) shares dropped 3.8% during mid-day trading on Thursday . The company traded as low as $43.73 and last traded at $43.87. Approximately 865,661 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 2,439,908 shares. The stock had previously closed at $45.62.

Analyst Ratings Changes

Several brokerages recently issued reports on AU. Royal Bank of Canada increased their price objective on AngloGold Ashanti from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Scotiabank boosted their price target on AngloGold Ashanti from $34.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Monday, April 14th. HSBC reaffirmed a “reduce” rating and set a $35.00 target price on shares of AngloGold Ashanti in a research report on Thursday. Finally, StockNews.com raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

AngloGold Ashanti Trading Down 5.3 %

The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 13.50 and a beta of 0.81. The business has a 50-day moving average of $34.65 and a two-hundred day moving average of $29.40.

AngloGold Ashanti (NYSE:AU) last released its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.10). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Research analysts predict that AngloGold Ashanti plc will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.69 dividend. This represents a yield of 2.8%. The ex-dividend date was Friday, March 14th. This is a positive change from AngloGold Ashanti’s previous semi-annual dividend of $0.22. AngloGold Ashanti’s dividend payout ratio is 43.13%.

Institutional Investors Weigh In On AngloGold Ashanti

Institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. bought a new position in shares of AngloGold Ashanti during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in AngloGold Ashanti by 210.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company’s stock worth $27,000 after acquiring an additional 796 shares in the last quarter. Hara Capital LLC bought a new position in shares of AngloGold Ashanti during the fourth quarter valued at $29,000. Global Trust Asset Management LLC acquired a new stake in shares of AngloGold Ashanti in the 1st quarter valued at $30,000. Finally, Nomura Asset Management Co. Ltd. bought a new stake in shares of AngloGold Ashanti in the 4th quarter worth about $32,000. 36.09% of the stock is owned by institutional investors and hedge funds.

AngloGold Ashanti Company Profile

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.