AngloGold Ashanti (NYSE:AU) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS
by Jessica Moore · The Cerbat GemAngloGold Ashanti (NYSE:AU – Get Free Report) posted its earnings results on Thursday. The mining company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05), FiscalAI reports. AngloGold Ashanti had a net margin of 31.11% and a return on equity of 36.41%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.20 billion.
AngloGold Ashanti Price Performance
NYSE AU traded down $3.16 during trading hours on Friday, reaching $79.17. 7,344,615 shares of the company’s stock were exchanged, compared to its average volume of 2,992,036. The stock has a market cap of $39.97 billion, a PE ratio of 11.61 and a beta of 0.65. AngloGold Ashanti has a one year low of $45.36 and a one year high of $129.14. The firm has a fifty day moving average of $84.53 and a 200-day moving average of $96.27. The company has a current ratio of 2.71, a quick ratio of 2.11 and a debt-to-equity ratio of 0.19.
AngloGold Ashanti Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, August 21st. AngloGold Ashanti’s payout ratio is presently 68.04%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on AU shares. Wall Street Zen downgraded AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Research cut AngloGold Ashanti from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Freedom Capital upgraded AngloGold Ashanti to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings lowered AngloGold Ashanti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 1st. Finally, Citigroup lowered their price target on AngloGold Ashanti from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, AngloGold Ashanti has an average rating of “Moderate Buy” and an average target price of $110.50.
Read Our Latest Stock Analysis on AU
Hedge Funds Weigh In On AngloGold Ashanti
A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its holdings in shares of AngloGold Ashanti by 0.5% during the fourth quarter. State Street Corp now owns 5,731,937 shares of the mining company’s stock worth $488,820,000 after purchasing an additional 26,421 shares during the last quarter. Invesco Ltd. increased its stake in shares of AngloGold Ashanti by 4.5% in the fourth quarter. Invesco Ltd. now owns 2,791,584 shares of the mining company’s stock valued at $238,066,000 after buying an additional 119,355 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of AngloGold Ashanti by 5,109.9% in the fourth quarter. AQR Capital Management LLC now owns 2,082,326 shares of the mining company’s stock valued at $179,286,000 after buying an additional 2,042,357 shares during the last quarter. Morgan Stanley raised its holdings in shares of AngloGold Ashanti by 27.0% in the fourth quarter. Morgan Stanley now owns 2,038,986 shares of the mining company’s stock valued at $173,885,000 after buying an additional 433,654 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in AngloGold Ashanti by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,849,121 shares of the mining company’s stock worth $129,841,000 after buying an additional 173,381 shares in the last quarter. Institutional investors and hedge funds own 36.09% of the company’s stock.
AngloGold Ashanti Company Profile
AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.
The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.
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