AngloGold Ashanti (NYSE:AU) Shares Gap Down Following Weak Earnings

Shares of AngloGold Ashanti plc (NYSE:AU - Get Free Report) gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $32.19, but opened at $29.31. AngloGold Ashanti shares last traded at $29.80, with a volume of 1,018,477 shares trading hands.

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.

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 given a $0.69 dividend. This represents a yield of 2.8%. This is a positive change from AngloGold Ashanti's previous semi-annual dividend of $0.22. The ex-dividend date is Friday, March 14th.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on AngloGold Ashanti from $37.00 to $32.00 and set an "overweight" rating on the stock in a research note on Friday, December 6th. Scotiabank raised shares of AngloGold Ashanti from a "sector underperform" rating to a "sector perform" rating and set a $30.00 target price for the company in a research note on Thursday, November 21st. StockNews.com downgraded AngloGold Ashanti from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 target price on shares of AngloGold Ashanti in a research report on Thursday. One investment 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $33.00.

Institutional Investors Weigh In On AngloGold Ashanti

A number of institutional investors and hedge funds have recently made changes to their positions in AU. Whittier Trust Co. acquired a new position in AngloGold Ashanti during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC increased its stake in shares of AngloGold Ashanti by 210.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company's stock worth $27,000 after purchasing an additional 796 shares during the last quarter. Nomura Asset Management Co. Ltd. bought a new stake in shares of AngloGold Ashanti in the 4th quarter valued at about $32,000. R Squared Ltd acquired a new stake in AngloGold Ashanti in the 4th quarter valued at about $36,000. Finally, Decker Retirement Planning Inc. acquired a new stake in AngloGold Ashanti in the 4th quarter valued at about $69,000. Institutional investors own 36.09% of the company's stock.

AngloGold Ashanti Price Performance

The business has a fifty day moving average of $27.42 and a 200 day moving average of $27.65. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46.

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.