AngloGold Ashanti (AU) ended the recent trading session at $109.44, demonstrating a +1.25% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.41%. On the other hand, the Dow registered a loss of 0.83%, and the technology-centric Nasdaq increased by 0.91%.
The gold miner's shares have seen an increase of 27.25% over the last month, surpassing the Basic Materials sector's gain of 9.68% and the S&P 500's gain of 0.38%.
Investors will be eagerly watching for the performance of AngloGold Ashanti in its upcoming earnings disclosure. On that day, AngloGold Ashanti is projected to report earnings of $1.9 per share, which would represent year-over-year growth of 113.48%. Alongside, our most recent consensus estimate is anticipating revenue of $3.03 billion, indicating a 73.03% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.59 per share and a revenue of $9.85 billion, representing changes of +152.94% and 0%, respectively, from the prior year.
Any recent changes to analyst estimates for AngloGold Ashanti should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.11% upward. As of now, AngloGold Ashanti holds a Zacks Rank of #1 (Strong Buy).
Investors should also note AngloGold Ashanti's current valuation metrics, including its Forward P/E ratio of 13.69. This valuation marks a discount compared to its industry average Forward P/E of 15.15.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 71, this industry ranks in the top 29% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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