AngloGold Ashanti (NYSE:AU) Upgraded to Buy by Investec

Investec upgraded shares of AngloGold Ashanti (NYSE:AU) from a hold rating to a buy rating in a research report sent to investors on Friday, MarketBeat reports.

Other research analysts also recently issued reports about the stock. StockNews.com upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Scotiabank reissued a “sector underperform” rating and issued a $30.00 price objective (up previously from $27.00) on shares of AngloGold Ashanti in a report on Monday, August 19th. JPMorgan Chase & Co. raised their target price on AngloGold Ashanti from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets boosted their price target on AngloGold Ashanti from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $33.67.

AngloGold Ashanti Stock Up 2.7 %

AngloGold Ashanti stock opened at $30.33 on Friday. The business’s 50-day simple moving average is $28.74 and its two-hundred day simple moving average is $26.35. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.19 and a current ratio of 1.83. The company has a market cap of $12.70 billion, a PE ratio of 9.48 and a beta of 0.98. AngloGold Ashanti has a fifty-two week low of $15.60 and a fifty-two week high of $32.57.

AngloGold Ashanti (NYSE:AU) last issued its earnings results on Tuesday, August 6th. The mining company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company earned $0.17 EPS. Equities analysts anticipate that AngloGold Ashanti will post 2.58 EPS for the current year.

AngloGold Ashanti Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.22 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 30th. This is a positive change from AngloGold Ashanti’s previous Semi-Annual dividend of $0.19. AngloGold Ashanti’s payout ratio is currently 13.75%.

Hedge Funds Weigh In On AngloGold Ashanti

A number of hedge funds have recently bought and sold shares of the business. CWM LLC raised its stake in shares of AngloGold Ashanti by 36.1% during the 1st quarter. CWM LLC now owns 1,890 shares of the mining company’s stock worth $42,000 after buying an additional 501 shares during the period. GAMMA Investing LLC raised its position in AngloGold Ashanti by 108.9% during the first quarter. GAMMA Investing LLC now owns 2,505 shares of the mining company’s stock worth $56,000 after acquiring an additional 1,306 shares during the period. Blue Trust Inc. raised its position in AngloGold Ashanti by 338.3% during the second quarter. Blue Trust Inc. now owns 3,471 shares of the mining company’s stock worth $87,000 after acquiring an additional 2,679 shares during the period. PNC Financial Services Group Inc. lifted its holdings in AngloGold Ashanti by 32.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,215 shares of the mining company’s stock valued at $79,000 after purchasing an additional 1,032 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of AngloGold Ashanti in the third quarter valued at about $126,000. 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.