AngloGold Ashanti (NYSE:AU) Shares Gap Down on Disappointing Earnings

AngloGold Ashanti plc (NYSE:AU)’s stock price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $32.19, but opened at $29.31. AngloGold Ashanti shares last traded at $29.80, with a volume of 1,018,477 shares.

The mining company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.10).

Analysts Set New Price Targets

Several equities analysts recently weighed in on AU shares. JPMorgan Chase & Co. dropped 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 report on Friday, December 6th. Royal Bank of Canada raised shares of AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a research report on Tuesday, December 3rd. Scotiabank raised 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 report on Thursday, November 21st. Finally, StockNews.com cut shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.75.

Hedge Funds Weigh In On AngloGold Ashanti

Several hedge funds have recently modified their holdings of AU. Vanguard Group Inc. lifted its position in shares of AngloGold Ashanti by 22.9% during the 4th quarter. Vanguard Group Inc. now owns 20,857,324 shares of the mining company’s stock worth $467,795,000 after buying an additional 3,882,283 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AngloGold Ashanti by 274.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,133,744 shares of the mining company’s stock worth $118,448,000 after buying an additional 3,764,165 shares in the last quarter. FMR LLC raised its holdings in shares of AngloGold Ashanti by 39.5% in the 3rd quarter. FMR LLC now owns 10,448,445 shares of the mining company’s stock worth $277,968,000 after purchasing an additional 2,957,304 shares during the period. Marshall Wace LLP raised its holdings in shares of AngloGold Ashanti by 3,767.1% in the 4th quarter. Marshall Wace LLP now owns 2,751,410 shares of the mining company’s stock worth $63,503,000 after purchasing an additional 2,680,261 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of AngloGold Ashanti by 10.9% in the 4th quarter. Van ECK Associates Corp now owns 25,411,814 shares of the mining company’s stock worth $586,504,000 after purchasing an additional 2,491,130 shares during the period. Institutional investors own 36.09% of the company’s stock.

AngloGold Ashanti Trading Down 3.4 %

The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $27.29 and its 200 day moving average is $27.62.

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.