AngloGold Ashanti (NYSE:AU) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

AngloGold Ashanti (NYSE:AU) had its target price boosted by Royal Bank of Canada from $39.00 to $41.00 in a research note issued to investors on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the mining company’s stock.

Several other equities research analysts have also recently commented on the company. Scotiabank boosted their target price on AngloGold Ashanti from $30.00 to $34.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price objective on AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Finally, StockNews.com raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, AngloGold Ashanti has a consensus rating of “Moderate Buy” and an average price target of $35.25.

AngloGold Ashanti Trading Down 9.3 %

NYSE:AU opened at $33.55 on Friday. AngloGold Ashanti has a 1 year low of $21.65 and a 1 year high of $38.63. The business has a fifty day moving average of $32.56 and a 200-day moving average of $28.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.14 and a current ratio of 1.73. The stock has a market cap of $14.08 billion, a price-to-earnings ratio of 10.48 and a beta of 0.81.

AngloGold Ashanti (NYSE:AU) last released its earnings results on Wednesday, February 19th. The mining company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.10). The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Equities analysts predict that AngloGold Ashanti will post 3.83 earnings per share for the current year.

AngloGold Ashanti Increases Dividend

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

Hedge Funds Weigh In On AngloGold Ashanti

A number of institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. acquired a new stake in AngloGold Ashanti during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its position in AngloGold Ashanti by 210.6% during the 4th 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 during the last quarter. Hara Capital LLC bought a new stake in AngloGold Ashanti during the 4th quarter valued at approximately $29,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of AngloGold Ashanti in the fourth quarter valued at approximately $32,000. Finally, R Squared Ltd bought a new stake in AngloGold Ashanti in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 36.09% of the company’s stock.

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.