FY2024 EPS Forecast for AngloGold Ashanti Raised by Analyst

AngloGold Ashanti plc (NYSE:AU - Free Report) - Investment analysts at Scotiabank raised their FY2024 earnings per share estimates for shares of AngloGold Ashanti in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts that the mining company will post earnings per share of $2.96 for the year, up from their prior forecast of $2.82. Scotiabank has a "Sector Perform" rating and a $30.00 price target on the stock. The consensus estimate for AngloGold Ashanti's current full-year earnings is $2.50 per share.

A number of other equities analysts also recently issued reports on AU. Royal Bank of Canada upgraded shares of AngloGold Ashanti from a "sector perform" rating to an "outperform" rating and set a $31.00 price target for the company in a report on Tuesday, December 3rd. Investec raised AngloGold Ashanti from a "hold" rating to a "buy" rating in a report on Friday, October 18th. StockNews.com lowered AngloGold Ashanti from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. cut their price target on AngloGold Ashanti from $37.00 to $32.00 and set an "overweight" rating for the company in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, AngloGold Ashanti currently has a consensus rating of "Hold" and a consensus price target of $31.75.

AngloGold Ashanti Stock Performance

NYSE:AU traded up $0.76 during midday trading on Thursday, reaching $25.21. The stock had a trading volume of 2,459,381 shares, compared to its average volume of 2,081,776. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The stock has a market cap of $10.58 billion, a P/E ratio of 7.88 and a beta of 0.94. The firm has a fifty day simple moving average of $24.88 and a two-hundred day simple moving average of $27.13. AngloGold Ashanti has a 12-month low of $15.80 and a 12-month high of $32.57.

Institutional Investors Weigh In On AngloGold Ashanti

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of AngloGold Ashanti in the 3rd quarter valued at approximately $126,000. JPMorgan Chase & Co. raised its holdings in AngloGold Ashanti by 378.2% in the third quarter. JPMorgan Chase & Co. now owns 4,782 shares of the mining company's stock valued at $127,000 after acquiring an additional 3,782 shares in the last quarter. Blue Trust Inc. boosted its stake in AngloGold Ashanti by 72.6% during the 3rd quarter. Blue Trust Inc. now owns 5,991 shares of the mining company's stock valued at $151,000 after acquiring an additional 2,520 shares during the last quarter. Ritholtz Wealth Management acquired a new position in AngloGold Ashanti during the 3rd quarter worth $222,000. Finally, Ballentine Partners LLC increased its position in shares of AngloGold Ashanti by 5.9% in the 2nd quarter. Ballentine Partners LLC now owns 12,279 shares of the mining company's stock worth $309,000 after purchasing an additional 682 shares during the last quarter. 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.