AngloGold Ashanti (NYSE:AU) Hits New 52-Week High – Here’s Why

AngloGold Ashanti plc (NYSE:AU) hit a new 52-week high during trading on Friday . The stock traded as high as $38.16 and last traded at $37.34, with a volume of 934728 shares trading hands. The stock had previously closed at $36.18.

Analyst Ratings Changes

AU has been the topic of several recent analyst reports. Scotiabank upped their target price on shares of AngloGold Ashanti from $30.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of AngloGold Ashanti in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $34.00.

AngloGold Ashanti Price Performance

The company has a 50-day moving average of $31.50 and a 200-day moving average of $28.10. The stock has a market capitalization of $15.69 billion, a price-to-earnings ratio of 11.66 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.14 and a current ratio of 1.73.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, equities research analysts expect that AngloGold Ashanti plc will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.69 per share. This is a boost from AngloGold Ashanti’s previous semi-annual dividend of $0.22. This represents a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, March 14th. AngloGold Ashanti’s dividend payout ratio (DPR) is currently 43.13%.

Hedge Funds Weigh In On AngloGold Ashanti

Institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC boosted its position in AngloGold Ashanti by 9.4% during the fourth quarter. NewEdge Advisors LLC now owns 5,799 shares of the mining company’s stock worth $134,000 after acquiring an additional 500 shares during the last quarter. Sprott Inc. lifted its stake in shares of AngloGold Ashanti by 0.7% during the 4th quarter. Sprott Inc. now owns 91,168 shares of the mining company’s stock worth $2,104,000 after purchasing an additional 662 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 796 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of AngloGold Ashanti by 10.5% during the fourth quarter. Quadrant Capital Group LLC now owns 8,860 shares of the mining company’s stock worth $204,000 after purchasing an additional 844 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of AngloGold Ashanti by 9.3% in the fourth quarter. Rhumbline Advisers now owns 10,745 shares of the mining company’s stock valued at $248,000 after purchasing an additional 910 shares during the period. Institutional investors and hedge funds 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.