AngloGold Ashanti (NYSE:AU) Stock Rating Reaffirmed by Scotiabank

Scotiabank reissued their sector underperform rating on shares of AngloGold Ashanti (NYSE:AU) in a report published on Monday, MarketBeat Ratings reports. The firm currently has a $30.00 price target on the mining company’s stock, up from their prior price target of $27.00.

A number of other brokerages also recently commented on AU. JPMorgan Chase & Co. decreased their target price on AngloGold Ashanti from $33.00 to $32.00 and set an overweight rating for the company in a report on Wednesday, July 3rd. BMO Capital Markets upped their price objective on shares of AngloGold Ashanti from $28.00 to $34.00 and gave the stock an outperform rating in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of AngloGold Ashanti from a hold rating to a buy rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $28.50.

AngloGold Ashanti Trading Down 4.8 %

AU stock opened at $30.80 on Monday. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 9.63 and a beta of 0.92. The firm’s 50-day moving average price is $27.58 and its two-hundred day moving average price is $23.96. AngloGold Ashanti has a 12-month low of $14.91 and a 12-month high of $32.57.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings results on Tuesday, August 6th. The mining company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. Equities analysts predict that AngloGold Ashanti will post 2.39 EPS for the current year.

AngloGold Ashanti Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.22 per share. This represents a dividend yield of 0.7%. The ex-dividend date is Friday, August 30th. This is a boost from AngloGold Ashanti’s previous Semi-Annual dividend of $0.19. AngloGold Ashanti’s payout ratio is 13.75%.

Institutional Investors Weigh In On AngloGold Ashanti

Hedge funds and other institutional investors have recently bought and sold shares of the business. Chesapeake Capital Corp IL boosted its position in shares of AngloGold Ashanti by 3.1% in the 2nd quarter. Chesapeake Capital Corp IL now owns 14,100 shares of the mining company’s stock worth $354,000 after purchasing an additional 429 shares in the last quarter. GAMMA Investing LLC raised its holdings in AngloGold Ashanti by 17.3% in the second quarter. GAMMA Investing LLC now owns 2,938 shares of the mining company’s stock worth $74,000 after buying an additional 433 shares during the last quarter. CWM LLC lifted its stake in shares of AngloGold Ashanti by 26.1% in the second quarter. CWM LLC now owns 2,383 shares of the mining company’s stock worth $60,000 after buying an additional 493 shares in the last quarter. Sei Investments Co. grew its holdings in shares of AngloGold Ashanti by 1.0% during the second quarter. Sei Investments Co. now owns 64,843 shares of the mining company’s stock valued at $1,630,000 after buying an additional 656 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings 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 in 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.