AngloGold Ashanti (NYSE:AU) Price Target Raised to $34.00

AngloGold Ashanti (NYSE:AU) had its price target raised by Scotiabank from $30.00 to $34.00 in a research report report published on Tuesday,Benzinga reports. Scotiabank currently has a sector perform rating on the mining company’s stock.

A number of other research firms have also recently commented on AU. JPMorgan Chase & Co. decreased their price target on AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. StockNews.com cut AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of AngloGold Ashanti in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.00.

AngloGold Ashanti Price Performance

Shares of AngloGold Ashanti stock opened at $29.31 on Tuesday. AngloGold Ashanti has a one year low of $17.94 and a one year high of $33.77. The stock’s fifty day moving average is $28.11 and its 200 day moving average is $27.74. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46.

AngloGold Ashanti (NYSE:AU) last announced its earnings results on Wednesday, February 19th. The mining company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.10). The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. On average, equities research analysts forecast that AngloGold Ashanti will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.69 dividend. This represents a dividend yield of 2.8%. This is a boost from AngloGold Ashanti’s previous semi-annual dividend of $0.22. The ex-dividend date is Friday, March 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. purchased a new position in AngloGold Ashanti in the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC grew its position in AngloGold Ashanti by 210.6% in 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. Nomura Asset Management Co. Ltd. purchased a new position in AngloGold Ashanti in the fourth quarter worth about $32,000. R Squared Ltd purchased a new position in AngloGold Ashanti in the fourth quarter worth about $36,000. Finally, Decker Retirement Planning Inc. purchased a new position in AngloGold Ashanti in the fourth quarter worth about $69,000. 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.