AngloGold Ashanti (NYSE:AU) Given New $41.00 Price Target at Royal Bank of Canada

AngloGold Ashanti (NYSE:AU) had its target price hoisted by Royal Bank of Canada from $39.00 to $41.00 in a research note released on Friday,Benzinga reports. The firm currently has an outperform rating on the mining company’s stock.

Several other equities research analysts also recently issued reports on AU. StockNews.com upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Thursday. Scotiabank lifted their price target on shares of 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, JPMorgan Chase & Co. reduced their price objective on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.25.

AngloGold Ashanti Trading Down 9.3 %

NYSE AU opened at $33.55 on Friday. The stock has a market cap of $14.08 billion, a P/E ratio of 10.48 and a beta of 0.81. The company’s fifty day simple moving average is $32.56 and its 200-day simple moving average is $28.45. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. AngloGold Ashanti has a 52 week low of $21.65 and a 52 week high of $38.63.

AngloGold Ashanti (NYSE:AU) last posted 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Equities research analysts predict that AngloGold Ashanti will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 28th. Shareholders 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 an increase from AngloGold Ashanti’s previous semi-annual dividend of $0.22. AngloGold Ashanti’s payout ratio is currently 43.13%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AU. Whittier Trust Co. bought a new stake in shares of AngloGold Ashanti in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its stake 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 valued at $27,000 after buying an additional 796 shares during the last quarter. Hara Capital LLC acquired a new position in shares of AngloGold Ashanti during the fourth quarter valued at $29,000. Nomura Asset Management Co. Ltd. bought a new position in shares of AngloGold Ashanti during the fourth quarter worth about $32,000. Finally, R Squared Ltd acquired a new stake in shares of AngloGold Ashanti in the 4th quarter worth about $36,000. 36.09% of the stock is currently 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.