AngloGold Ashanti plc (NYSE:AU – Get Free Report)’s share price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $32.19, but opened at $29.31. AngloGold Ashanti shares last traded at $29.80, with a volume of 1,018,477 shares.
The mining company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.10).
Analysts Set New Price Targets
AU has been the topic of several research reports. Royal Bank of Canada raised AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a research report on Tuesday, December 3rd. Scotiabank raised AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price objective on the stock in a report on Thursday, November 21st. StockNews.com downgraded AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.75.
Hedge Funds Weigh In On AngloGold Ashanti
Several institutional investors and hedge funds have recently modified their holdings of AU. Whittier Trust Co. purchased a new stake in shares of AngloGold Ashanti in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its stake in AngloGold Ashanti by 210.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company’s stock valued at $27,000 after acquiring an additional 796 shares during the period. Nomura Asset Management Co. Ltd. purchased a new stake in AngloGold Ashanti in the 4th quarter worth $32,000. R Squared Ltd acquired a new position in AngloGold Ashanti during the fourth quarter worth $36,000. Finally, Decker Retirement Planning Inc. purchased a new position in AngloGold Ashanti during the fourth quarter valued at $69,000. Hedge funds and other institutional investors own 36.09% of the company’s stock.
AngloGold Ashanti Trading Down 7.1 %
The company’s 50-day moving average price is $27.09 and its 200-day moving average price is $27.56. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.14.
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.
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