AngloGold Ashanti (AU) closed the most recent trading day at $66.31, moving +1.16% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.05%. Meanwhile, the Dow experienced a drop of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.45%.
Shares of the gold miner have appreciated by 19.81% over the course of the past month, outperforming the Basic Materials sector's gain of 7.06%, and the S&P 500's gain of 3.44%.
The investment community will be closely monitoring the performance of AngloGold Ashanti in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.21, reflecting a 116.07% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.42 billion, indicating a 62.12% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.96 per share and revenue of $9.01 billion, indicating changes of +124.43% and +55.59%, respectively, compared to the previous year.
Any recent changes to analyst estimates for AngloGold Ashanti should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. AngloGold Ashanti is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note AngloGold Ashanti's current valuation metrics, including its Forward P/E ratio of 13.22. For comparison, its industry has an average Forward P/E of 14.85, which means AngloGold Ashanti is trading at a discount to the group.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 91, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow AU in the coming trading sessions, be sure to utilize Zacks.com.
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 ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
