#3 - AngloGold Ashanti (NYSE:AU)
Gold enthusiasts are often dismissed as the broken clocks that are right twice a day. This may be one of those times. The spot price of gold is over $2,400 as of August 14, 2024, and it’s up more than 18% this year. Central banks all over the world continue to buy gold. There could be many reasons for this, but expectations for a rate cut that will devalue the U.S. dollar can’t be overlooked.
That’s why you may want to consider a position in AngloGold Ashanti plc (NYSE: AU). The company is a gold miner with operations in Africa, Australia, and the Americas. AU stock is up an impressive 64% in 2024, which could lead to concerns that any growth is priced in.
However, the company reiterated its full-year production guidance with its strong second-quarter earnings report. And analysts are beginning to raise their price targets accordingly. At that time, the company raised its dividend by 15%.
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.
Read More - Current Price
- $27.40
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $33.67 (22.9% Upside)
