AngloGold Ashanti (NYSE:AU) Shares Gap Down – Here’s Why

AngloGold Ashanti PLC (NYSE:AU)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $104.60, but opened at $100.43. AngloGold Ashanti shares last traded at $99.0450, with a volume of 776,825 shares.

Analyst Ratings Changes

A number of research firms have commented on AU. Freedom Capital raised shares of AngloGold Ashanti to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings cut shares of AngloGold Ashanti from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Roth Capital dropped their price objective on shares of AngloGold Ashanti from $121.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Royal Bank Of Canada upped their target price on AngloGold Ashanti from $111.00 to $119.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.14.

AngloGold Ashanti Stock Performance

The firm’s 50 day moving average is $97.50 and its 200 day moving average is $95.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.07 and a current ratio of 2.71. The stock has a market cap of $49.71 billion, a P/E ratio of 13.20 and a beta of 0.74.

AngloGold Ashanti (NYSE:AU) last posted its quarterly earnings data on Thursday, July 30th. The mining company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%.The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.20 billion. Analysts anticipate that AngloGold Ashanti PLC will post 8.16 EPS for the current year.

AngloGold Ashanti Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 21st. AngloGold Ashanti’s dividend payout ratio is presently 6.70%.

Institutional Investors Weigh In On AngloGold Ashanti

Large investors have recently bought and sold shares of the company. Ascentis Independent Advisors purchased a new stake in shares of AngloGold Ashanti in the first quarter worth about $26,000. Ancora Advisors LLC purchased a new position in AngloGold Ashanti during the second quarter valued at approximately $30,000. Reflection Asset Management acquired a new position in AngloGold Ashanti in the fourth quarter valued at approximately $42,000. KBC Group NV acquired a new position in AngloGold Ashanti in the first quarter valued at approximately $55,000. Finally, Ameritas Advisory Services LLC purchased a new stake in AngloGold Ashanti in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 36.09% of the company’s stock.

About AngloGold Ashanti

AngloGold Ashanti plc is a global gold mining company that explores for, develops, and operates gold mines. Its primary product is gold, with silver and other minerals produced as byproducts at some operations. The company also manages mineral exploration, mine development, processing, and related reclamation activities.

AngloGold Ashanti operates across several regions, including Africa, Australia, and the Americas. Its portfolio has included mines and projects in Ghana, Guinea, Tanzania, Australia, Brazil, and Argentina, supported by exploration programs in other prospective mining jurisdictions.