Research Analysts Offer Predictions for AU FY2024 Earnings

AngloGold Ashanti plc (NYSE:AU) – Scotiabank upped their FY2024 earnings per share estimates for shares of AngloGold Ashanti in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the mining company will earn $2.96 per share for the year, up from their prior estimate 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 have also weighed in on AU. StockNews.com lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada upgraded AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a report on Tuesday, December 3rd. 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 report on Friday, December 6th. Finally, Investec upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.75.

AngloGold Ashanti Price Performance

NYSE:AU opened at $25.21 on Thursday. The stock has a 50 day moving average of $24.88 and a two-hundred day moving average of $27.13. AngloGold Ashanti has a 12 month low of $15.80 and a 12 month high of $32.57. The firm has a market cap of $10.58 billion, a P/E ratio of 7.88 and a beta of 0.94. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46.

Institutional Trading of AngloGold Ashanti

A number of hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc increased its position in AngloGold Ashanti by 8.2% during the 2nd quarter. TD Asset Management Inc now owns 119,454 shares of the mining company’s stock worth $3,002,000 after purchasing an additional 9,050 shares during the period. Ballentine Partners LLC grew its holdings in AngloGold Ashanti by 5.9% during the second quarter. Ballentine Partners LLC now owns 12,279 shares of the mining company’s stock worth $309,000 after acquiring an additional 682 shares during the period. Barings LLC raised its position in AngloGold Ashanti by 395.0% in the second quarter. Barings LLC now owns 1,101,183 shares of the mining company’s stock worth $27,818,000 after acquiring an additional 878,717 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in AngloGold Ashanti by 13.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,485 shares of the mining company’s stock valued at $766,000 after acquiring an additional 3,604 shares during the period. Finally, Seven Eight Capital LP acquired a new stake in AngloGold Ashanti in the second quarter valued at $369,000. 36.09% of the stock is owned by institutional investors and hedge funds.

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.