AngloGold Ashanti (AU) Suffers a Larger Drop Than the General Market: Key Insights

AngloGold Ashanti (AU) closed at $24.28 in the latest trading session, marking a -0.41% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.02%. Meanwhile, the Dow lost 0.21%, and the Nasdaq, a tech-heavy index, added 0.29%.

Shares of the gold miner witnessed a gain of 2.22% over the previous month, beating the performance of the Basic Materials sector with its loss of 0.13% and the S&P 500's gain of 1.29%.

The upcoming earnings release of AngloGold Ashanti will be of great interest to investors. Meanwhile, our latest consensus estimate is calling for revenue of $1.22 billion, up 18.9% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.84 per share and revenue of $5.5 billion, indicating changes of +2681.82% and +19.93%, respectively, compared to the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for AngloGold Ashanti. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 60.45% increase. Currently, AngloGold Ashanti is carrying a Zacks Rank of #1 (Strong Buy).

In terms of valuation, AngloGold Ashanti is currently trading at a Forward P/E ratio of 8.58. This denotes a discount relative to the industry's average Forward P/E of 16.5.

The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Buy 5 Stocks BEFORE Election Day

Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins).

Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement.

They include a medical manufacturer that gained +11,000% in the last 15 years… a rental company absolutely crushing its sector… an energy powerhouse planning to grow its already large dividend by 25%... an aerospace and defense standout that just landed a potentially $80 billion contract… and a giant chipmaker building huge plants in the U.S. 

Don’t Wait. Download FREE >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

AngloGold Ashanti PLC (AU) : Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.