Brokerages Set AngloGold Ashanti PLC (NYSE:AU) Price Target at $69.50

Shares of AngloGold Ashanti PLC (NYSE:AU) have earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $80.8333.

AU has been the topic of several research reports. Wall Street Zen cut AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Citigroup started coverage on AngloGold Ashanti in a report on Monday, October 27th. They set a “buy” rating and a $90.00 price target for the company. Zacks Research raised shares of AngloGold Ashanti from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Weiss Ratings upgraded shares of AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Finally, HSBC restated a “reduce” rating and issued a $55.00 price target on shares of AngloGold Ashanti in a report on Thursday, October 9th.

AngloGold Ashanti Stock Performance

NYSE AU opened at $83.67 on Friday. The firm’s fifty day moving average price is $74.71 and its two-hundred day moving average price is $59.92. The stock has a market cap of $35.12 billion, a PE ratio of 18.43 and a beta of 0.58. AngloGold Ashanti has a fifty-two week low of $22.45 and a fifty-two week high of $89.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.22 and a current ratio of 2.99.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings results on Tuesday, November 11th. The mining company reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.02). The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.53 billion. AngloGold Ashanti had a net margin of 26.25% and a return on equity of 24.50%. On average, equities analysts expect that AngloGold Ashanti will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, November 28th. AngloGold Ashanti’s dividend payout ratio (DPR) is 80.18%.

Hedge Funds Weigh In On AngloGold Ashanti

A number of institutional investors have recently modified their holdings of AU. HHM Wealth Advisors LLC acquired a new stake in AngloGold Ashanti in the 3rd quarter valued at $25,000. UMB Bank n.a. lifted its stake in shares of AngloGold Ashanti by 129.0% in the third 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 in the last quarter. Optimum Investment Advisors acquired a new position in shares of AngloGold Ashanti during the third quarter valued at about $35,000. Ancora Advisors LLC acquired a new position in shares of AngloGold Ashanti during the third quarter valued at about $35,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of AngloGold Ashanti by 33.4% during the third quarter. CIBC Private Wealth Group LLC now owns 599 shares of the mining company’s stock worth $42,000 after acquiring an additional 150 shares in the last quarter. 36.09% of the stock is owned by institutional investors and hedge funds.

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.