AngloGold Ashanti (NYSE:AU) Trading Up 5.8% After Dividend Announcement

AngloGold Ashanti plc (NYSE:AU) shares were up 5.8% on Thursday following a dividend announcement from the company. The company traded as high as $32.42 and last traded at $32.85. Approximately 616,500 shares were traded during trading, a decline of 74% from the average daily volume of 2,385,810 shares. The stock had previously closed at $31.05.

The newly announced dividend which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from AngloGold Ashanti’s previous semi-annual dividend of $0.22. This represents a dividend yield of 2.8%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AU. StockNews.com downgraded shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of AngloGold Ashanti in a research note on Thursday. Scotiabank upgraded shares of AngloGold Ashanti from a “sector underperform” rating to a “sector perform” rating and set a $30.00 price target on the stock in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.

AngloGold Ashanti Stock Performance

The business’s 50 day moving average price is $27.42 and its two-hundred day moving average price is $27.65. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.10). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. On average, analysts expect that AngloGold Ashanti plc will post 3.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in AngloGold Ashanti during the 4th quarter worth approximately $562,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in AngloGold Ashanti by 44.2% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 564,903 shares of the mining company’s stock worth $12,584,000 after purchasing an additional 173,188 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AngloGold Ashanti by 25.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,564,634 shares of the mining company’s stock worth $36,112,000 after purchasing an additional 313,142 shares during the last quarter. Voloridge Investment Management LLC bought a new position in AngloGold Ashanti during the 4th quarter worth approximately $24,741,000. Finally, Two Sigma Advisers LP bought a new position in AngloGold Ashanti during the 4th quarter worth approximately $1,566,000. 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.