AngloGold Ashanti (NYSE:AU) Reaches New 1-Year High - Here's Why

AngloGold Ashanti plc (NYSE:AU - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $34.75 and last traded at $34.46, with a volume of 482149 shares. The stock had previously closed at $32.99.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of AngloGold Ashanti from $30.00 to $34.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $36.00 price target on shares of AngloGold Ashanti in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. decreased their price objective on AngloGold Ashanti from $37.00 to $32.00 and set an "overweight" rating for the company in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $34.00.

AngloGold Ashanti Stock Down 2.9 %

The company has a market cap of $14.87 billion, a price-to-earnings ratio of 11.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.14 and a current ratio of 1.73. The stock's fifty day moving average is $30.78 and its two-hundred day moving average is $27.90.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its earnings results 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 firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Sell-side analysts predict that AngloGold Ashanti plc will post 3.83 earnings per share for the current fiscal year.

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AngloGold Ashanti Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.69 per share. This represents a yield of 2.8%. This is an increase from AngloGold Ashanti's previous semi-annual dividend of $0.22. The ex-dividend date is Friday, March 14th. AngloGold Ashanti's payout ratio is currently 43.13%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AU. Whittier Trust Co. purchased a new position in shares of AngloGold Ashanti in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its holdings in AngloGold Ashanti by 210.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company's stock worth $27,000 after acquiring an additional 796 shares during the period. Hara Capital LLC purchased a new position in AngloGold Ashanti in the fourth quarter worth $29,000. Nomura Asset Management Co. Ltd. bought a new position in AngloGold Ashanti in the 4th quarter valued at $32,000. Finally, R Squared Ltd purchased a new stake in shares of AngloGold Ashanti during the 4th quarter valued at $36,000. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

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.