In the latest close session, AngloGold Ashanti (AU) was down 5.97% at $73.86. This change lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow experienced a rise of 0.52%, and the technology-dominated Nasdaq saw an increase of 0.52%.
Shares of the gold miner witnessed a gain of 21.59% over the previous month, beating the performance of the Basic Materials sector with its gain of 1.73%, and the S&P 500's gain of 0.71%.
The upcoming earnings release of AngloGold Ashanti will be of great interest to investors. The company's upcoming EPS is projected at $1.34, signifying a 139.29% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.53 billion, reflecting a 69.87% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.31 per share and revenue of $9.32 billion, indicating changes of +140.27% and +60.96%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for AngloGold Ashanti. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, AngloGold Ashanti holds a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, AngloGold Ashanti is holding a Forward P/E ratio of 14.79. For comparison, its industry has an average Forward P/E of 17.63, which means AngloGold Ashanti is trading at a discount to the group.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 20% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on 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
