Brokerages Set AngloGold Ashanti plc (NYSE:AU) Price Target at $24.25

Shares of AngloGold Ashanti plc (NYSE:AU) have earned an average recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.25.

AU has been the topic of a number of research analyst reports. StockNews.com upgraded AngloGold Ashanti from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. HSBC cut AngloGold Ashanti from a “hold” rating to a “reduce” rating in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. lifted their price target on AngloGold Ashanti from $23.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th.

AngloGold Ashanti Price Performance

Shares of AU stock opened at $23.57 on Friday. AngloGold Ashanti has a 12-month low of $14.91 and a 12-month high of $28.87. The firm has a 50-day moving average price of $22.42 and a 200 day moving average price of $19.46.

AngloGold Ashanti Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.19 per share. The ex-dividend date was Thursday, March 14th. This represents a dividend yield of 1.1%. This is an increase from AngloGold Ashanti’s previous semi-annual dividend of $0.03.

Institutional Trading of AngloGold Ashanti

Several institutional investors and hedge funds have recently added to or reduced their stakes in AU. Vanguard Group Inc. bought a new position in shares of AngloGold Ashanti in the 3rd quarter worth $245,342,000. First Eagle Investment Management LLC lifted its stake in AngloGold Ashanti by 312.3% in the fourth quarter. First Eagle Investment Management LLC now owns 6,003,149 shares of the mining company’s stock valued at $112,199,000 after buying an additional 4,547,011 shares during the period. Van ECK Associates Corp boosted its holdings in AngloGold Ashanti by 7.6% during the first quarter. Van ECK Associates Corp now owns 27,747,289 shares of the mining company’s stock worth $615,990,000 after buying an additional 1,948,322 shares during the last quarter. Deutsche Bank AG bought a new position in AngloGold Ashanti during the third quarter worth about $25,027,000. Finally, FMR LLC grew its position in shares of AngloGold Ashanti by 35,493.9% during the 3rd quarter. FMR LLC now owns 1,279,602 shares of the mining company’s stock worth $20,593,000 after buying an additional 1,276,007 shares during the period. 36.09% of the stock is owned by institutional investors.

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.