AngloGold Ashanti (NYSE:AU) Trading 5.7% Higher – Here’s What Happened

AngloGold Ashanti plc (NYSE:AU) shares rose 5.7% on Wednesday . The stock traded as high as $46.90 and last traded at $46.34. Approximately 1,230,583 shares were traded during trading, a decline of 55% from the average daily volume of 2,759,125 shares. The stock had previously closed at $43.83.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AU shares. Scotiabank increased their price objective on shares of AngloGold Ashanti from $34.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Monday. StockNews.com upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. Royal Bank of Canada lifted their price target on AngloGold Ashanti from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Finally, HSBC restated a “reduce” rating and set a $35.00 price objective on shares of AngloGold Ashanti in a research report on Thursday. One 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

AngloGold Ashanti Trading Down 5.3 %

The business’s 50 day simple moving average is $34.45 and its two-hundred day simple moving average is $29.29. The stock has a market cap of $18.13 billion, a P/E ratio of 13.50 and a beta of 0.81. 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 issued 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 during the quarter, compared to analyst estimates of $1.75 billion. As a group, analysts expect that AngloGold Ashanti plc will post 3.83 EPS 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%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from AngloGold Ashanti’s previous semi-annual dividend of $0.22. AngloGold Ashanti’s dividend payout ratio (DPR) is 43.13%.

Institutional Investors Weigh In On AngloGold Ashanti

A number of institutional investors have recently added to or reduced their stakes in AU. Lesa Sroufe & Co acquired a new position in shares of AngloGold Ashanti during the first quarter worth $4,657,000. Forefront Wealth Management Inc. raised its position in AngloGold Ashanti by 1.7% during the 1st quarter. Forefront Wealth Management Inc. now owns 38,529 shares of the mining company’s stock worth $1,430,000 after purchasing an additional 638 shares during the last quarter. Ritholtz Wealth Management acquired a new position in AngloGold Ashanti during the 1st quarter worth about $238,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of AngloGold Ashanti in the 1st quarter valued at about $950,000. Finally, Assenagon Asset Management S.A. grew its position in shares of AngloGold Ashanti by 2.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,353 shares of the mining company’s stock valued at $424,000 after buying an additional 235 shares during the last quarter. 36.09% of the stock is owned by institutional investors.

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.