AngloGold Ashanti (NYSE:AU) Hits New 1-Year High – Should You Buy?

AngloGold Ashanti plc (NYSE:AU) reached a new 52-week high on Friday . The stock traded as high as $41.91 and last traded at $42.31, with a volume of 140927 shares changing hands. The stock had previously closed at $38.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AU shares. StockNews.com upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Thursday, April 3rd. Scotiabank upped their target price on AngloGold Ashanti from $30.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada upped their price objective on shares of AngloGold Ashanti from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, AngloGold Ashanti currently has an average rating of “Moderate Buy” and an average price target of $35.25.

AngloGold Ashanti Trading Up 8.7 %

The company has a market capitalization of $17.73 billion, a PE ratio of 13.22 and a beta of 0.81. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. The business’s 50-day simple moving average is $33.27 and its two-hundred day simple moving average is $28.76.

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

AngloGold Ashanti Increases Dividend

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

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently modified their holdings of the stock. Whittier Trust Co. acquired a new stake in shares of AngloGold Ashanti in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its position in shares of AngloGold Ashanti by 210.6% during 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 last quarter. Hara Capital LLC acquired a new stake in shares of AngloGold Ashanti during the 4th quarter valued at $29,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of AngloGold Ashanti in the 4th quarter worth $32,000. Finally, R Squared Ltd acquired a new stake in shares of AngloGold Ashanti during the fourth quarter worth $36,000. 36.09% of the stock is currently owned by institutional investors.

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.