AngloGold Ashanti (AU) closed at $92.25 in the latest trading session, marking a +1.31% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.65%. Elsewhere, the Dow gained 0.48%, while the tech-heavy Nasdaq added 0.82%.
Shares of the gold miner have appreciated by 6.5% over the course of the past month, underperforming the Basic Materials sector's gain of 7.44%, and outperforming the S&P 500's gain of 1.15%.
Investors will be eagerly watching for the performance of AngloGold Ashanti in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.9, reflecting a 113.48% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.03 billion, up 73.03% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.51 per share and revenue of $9.85 billion, indicating changes of +149.32% and 0%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for AngloGold Ashanti. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 21.41% higher. AngloGold Ashanti is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, AngloGold Ashanti is presently being traded at a Forward P/E ratio of 11.66. This expresses a discount compared to the average Forward P/E of 12.66 of its industry.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 79, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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AngloGold Ashanti PLC (AU): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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