AngloGold Ashanti (NYSE:AU) Hits New 12-Month High – Time to Buy?

AngloGold Ashanti PLC (NYSE:AU) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $97.49 and last traded at $97.3020, with a volume of 280959 shares traded. The stock had previously closed at $92.25.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AU. JPMorgan Chase & Co. lifted their price objective on shares of AngloGold Ashanti from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. Scotiabank raised their price target on shares of AngloGold Ashanti from $90.00 to $92.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 12th. Wall Street Zen upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Citigroup increased their price objective on AngloGold Ashanti from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, Weiss Ratings raised AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

AngloGold Ashanti Price Performance

The firm has a market capitalization of $41.17 billion, a price-to-earnings ratio of 21.57 and a beta of 0.58. The stock’s fifty day moving average price is $83.06 and its two-hundred day moving average price is $67.73. The company has a current ratio of 2.58, a quick ratio of 1.98 and a debt-to-equity ratio of 0.21.

AngloGold Ashanti (NYSE:AU) last issued its earnings results on Wednesday, November 12th. The mining company reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.02). AngloGold Ashanti had a return on equity of 24.01% and a net margin of 26.25%.The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.53 billion. Equities research analysts expect that AngloGold Ashanti PLC will post 3.83 EPS for the current year.

AngloGold Ashanti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.91 dividend. The ex-dividend date was Friday, November 28th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.7%. AngloGold Ashanti’s dividend payout ratio is presently 80.18%.

Hedge Funds Weigh In On AngloGold Ashanti

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC purchased a new position in AngloGold Ashanti in the third quarter valued at approximately $25,000. Financial Management Professionals Inc. acquired a new position in shares of AngloGold Ashanti in the 2nd quarter valued at $30,000. UMB Bank n.a. grew its position in shares of AngloGold Ashanti by 129.0% in the 3rd quarter. UMB Bank n.a. now owns 490 shares of the mining company’s stock valued at $34,000 after buying an additional 276 shares during the last quarter. Optimum Investment Advisors acquired a new stake in AngloGold Ashanti during the 3rd quarter worth $35,000. Finally, Ancora Advisors LLC acquired a new stake in AngloGold Ashanti during the 3rd quarter worth $35,000. 36.09% of the stock is owned by institutional investors and hedge funds.

AngloGold Ashanti Company Profile

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.