FY2024 EPS Forecast for AngloGold Ashanti Boosted by Analyst

AngloGold Ashanti plc (NYSE:AU) – Investment analysts at Scotiabank increased their FY2024 earnings per share (EPS) estimates for shares of AngloGold Ashanti in a research report issued to clients and 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 currently has a “Sector Perform” rating and a $30.00 price objective on the stock. The consensus estimate for AngloGold Ashanti’s current full-year earnings is $2.50 per share.

AU has been the subject of a number of other research reports. StockNews.com downgraded shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Investec upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada upgraded AngloGold Ashanti from a “sector perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.75.

AngloGold Ashanti Stock Up 3.1 %

NYSE:AU opened at $25.21 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.14 and a current ratio of 1.73. The firm has a market cap of $10.58 billion, a P/E ratio of 7.88 and a beta of 0.94. AngloGold Ashanti has a fifty-two week low of $15.80 and a fifty-two week high of $32.57. The firm has a 50-day simple moving average of $24.93 and a two-hundred day simple moving average of $27.14.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in AngloGold Ashanti in the 3rd quarter worth about $126,000. JPMorgan Chase & Co. raised its holdings in shares of AngloGold Ashanti by 378.2% in the third quarter. JPMorgan Chase & Co. now owns 4,782 shares of the mining company’s stock worth $127,000 after buying an additional 3,782 shares during the period. Blue Trust Inc. lifted its stake in shares of AngloGold Ashanti by 72.6% during the 3rd quarter. Blue Trust Inc. now owns 5,991 shares of the mining company’s stock worth $151,000 after acquiring an additional 2,520 shares during the last quarter. Ritholtz Wealth Management purchased a new position in AngloGold Ashanti during the 3rd quarter valued at $222,000. Finally, Ballentine Partners LLC grew its position in AngloGold Ashanti by 5.9% in the 2nd quarter. Ballentine Partners LLC now owns 12,279 shares of the mining company’s stock valued at $309,000 after acquiring an additional 682 shares during the last quarter. Institutional investors own 36.09% of the company’s stock.

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.