Capital Research & Management Co.. recently announced the acquisition of new stake in AngloGold Ashanti Limited (NYSE:AU). The institutional investor has increased its shareholding in the Basic Materials company by 495.72% to 8.66 million shares with purchase of 7.21 million shares. This fresh investment now brings its stake to 2.08% valued currently at $278.76 million. In addition, RWC Asset Advisors (US) LLC raised its holdings by 0.71 million to 6.06 million shares. And Renaissance Technologies LLC has lifted its position by 16.53% or 0.58 million shares – to 4.08 million shares.
With over 1.87 million AngloGold Ashanti Limited (AU) shares trading Tuesday and a closing price of $29.15 on the day, the dollar volume was approximately $54.57 million. The shares have shown a positive weekly performance of 2.71% and its price on 09/01/20 lost nearly -1.22%. Currently, there are 418.50M common shares owned by the public and among those 412.65M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for AU have a consensus price objective of $31.59. The analysts have set the share’s price value over the next 12 months at a high of $41.52 and a low of $23.89 should the stock experience a downside. Incidentally, analysts’ outlook for the AngloGold Ashanti Limited stock is 2.50 for the next 12 months. The average price target is 20.09% above its last price level and an upside to the estimated low will see the stock lose -22.02% over that period. But an upside of 29.79% will see the stock hit the forecast high price target while mean target price for the stock is $28.67.
The top 3 mutual fund holders in AngloGold Ashanti Limited are VanEck Vectors – Gold Miners ETF, BlackRock Global Funds – World Go, and iShares V Plc – Gold Producers UC. VanEck Vectors – Gold Miners ETF owns 22.47 million shares of the company’s stock, all valued at over $723.22 million. The company bought an additional 68250.0 shares recently to bring their total holdings to about 5.39% of the shares outstanding. BlackRock Global Funds – World Go bought 38065.0 shares to see its total holdings expand to 8.44 million shares valued at over $271.58 million and representing 2.03% of the shares outstanding. iShares V Plc – Gold Producers UC bought 2331.0 shares to bring its total holdings to over 3.56 million shares at a value of $114.58 million. iShares V Plc – Gold Producers UC now owns shares totaling to 0.85% of the shares outstanding.
Shares of AngloGold Ashanti Limited (NYSE: AU) opened at $30.30, up $0.79 from a prior closing price of $29.51. However, the script later closed the day at $29.15, down -1.22%. The company’s stock has a 5-day price change of 2.71% and 17.12% over the past three months. AU shares are trading 30.48% year to date (YTD), with the 12-month market performance up to 27.74% higher. It has a 12-month low price of $12.66 and touched a high of $38.50 over the same period. Currently, 1.87 million shares have been traded, compared to an average intraday trading volume of 3.34 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.95%, -4.84%, and 22.94% respectively.
Institutional ownership of AngloGold Ashanti Limited (NYSE: AU) shares accounts for 36.60% of the company’s 418.50M shares outstanding. Mutual fund holders own 11.98%, while other institutional holders and individual stakeholders account for 22.73% and — respectively.
It has a market capitalization of $11.44B and a beta (3y monthly) value of 0.44. The stock’s trailing 12-month PE ratio is 19.33, while the earnings-per-share (ttm) stands at $1.51. The company has a PEG of 0.73 and a Quick Ratio of 2.00 with the debt-to-equity ratio at 0.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.02% over the week and 4.56% over the month.
Analysts forecast that AngloGold Ashanti Limited (AU) will achieve an EPS of $0 for the current quarter, $1.44 for the next quarter and $3.68 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to increase by 68.10%, and 58.21% over the next financial year. EPS should shrink at an annualized rate of 26.43% over the next five years, compared to 46.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate AngloGold Ashanti Limited (AU) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 4 of the 11 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the AU, a number of firms have released research notes about the stock. BMO Capital Markets stated their Market Perform rating for the stock in a research note on July 31, 2020, with the firm’s price target at. Deutsche Bank coverage for the AngloGold Ashanti Limited (AU) stock in a research note released on June 17, 2020 offered a Buy rating with a price target of. BofA/Merrill was of a view on April 21, 2020 that the stock is Neutral, while BMO Capital Markets gave the stock Outperform rating on June 27, 2019, issuing a price target of. RBC Capital Mkts on their part issued Outperform rating on June 26, 2019.