AngloGold Ashanti PLC (NYSE: AU) has received a consensus target price of $86.00 from eight brokerages currently covering the company, according to a report from MarketBeat.com. The analysts’ recommendations indicate a “Moderate Buy” sentiment, with one rating the stock as a sell, one as a hold, and six as buys.
Several financial institutions have recently provided updated analyses of AngloGold Ashanti. Notably, Citigroup raised its target price from $90.00 to $105.00, marking a significant bullish outlook in a research note dated December 10, 2023. In contrast, HSBC maintained a “reduce” rating with a price objective set at $55.00, reflecting a more cautious stance in a report on October 9, 2023.
In addition, JPMorgan Chase & Co. increased its target price from $128.00 to $131.00, assigning an “overweight” rating in a research update released on December 3, 2023. Meanwhile, Scotiabank raised its target from $90.00 to $92.00, giving the stock a “sector outperform” rating. Lastly, Roth Capital adjusted its price target from $84.00 to $92.00, maintaining a “buy” rating on December 15, 2023.
Stock Performance and Financials
On December 12, 2023, shares of AngloGold Ashanti opened at $91.25. Over the past year, the stock has fluctuated significantly, with a low of $22.45 and a high of $91.65. The company’s current financial ratios indicate stability, with a quick ratio of 1.98, a current ratio of 2.58, and a debt-to-equity ratio of 0.21. AngloGold Ashanti boasts a market capitalization of $38.30 billion, a price-to-earnings (PE) ratio of 20.10, and a beta of 0.58.
In its most recent quarterly earnings report, released on November 12, 2023, AngloGold Ashanti reported earnings per share (EPS) of $1.32, missing the consensus estimate of $1.34 by $0.02. The company’s revenue for the quarter reached $2.42 billion, falling short of the expected $2.53 billion. The firm reported a return on equity of 24.01% and a net margin of 26.25%. Analysts forecast that AngloGold Ashanti will achieve an EPS of 3.83 for the current fiscal year.
Dividend Announcement
AngloGold Ashanti has also declared a quarterly dividend, which was paid on December 12, 2023. Shareholders who were on record as of November 28, 2023 received a dividend of $0.91 per share. The ex-dividend date for this payment was the same day. This brings the annualized dividend to $3.64, resulting in a dividend yield of 4.0%. The company’s dividend payout ratio currently stands at 80.18%.
Company Overview
Founded through the merger of AngloGold and Ashanti Goldfields in 2004, AngloGold Ashanti is headquartered in Johannesburg, South Africa. The company is a prominent player in the global gold mining sector, engaging in the exploration, development, production, processing, and sale of gold. It operates across the entire mining value chain, from greenfield exploration to mine development, ore processing, and rehabilitation. Gold remains the primary commodity produced, although individual operations may yield various by-products depending on the local geology and processing techniques.
The current outlook for AngloGold Ashanti reflects a blend of cautious and optimistic perspectives among analysts, marking the company as a significant entity in the global mining landscape.
