In the latest close session, AngloGold Ashanti (AU) was down 2.72% at $48.33. The stock's change was less than the S&P 500's daily loss of 0.84%. On the other hand, the Dow registered a loss of 0.7%, and the technology-centric Nasdaq decreased by 0.91%.
Shares of the gold miner witnessed a gain of 21.94% over the previous month, beating the performance of the Basic Materials sector with its loss of 0%, and the S&P 500's gain of 1.44%.
The investment community will be closely monitoring the performance of AngloGold Ashanti in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.29, marking a 115% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.29 billion, indicating a 66% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.91 per share and a revenue of $8.75 billion, representing changes of +122.17% and +51.09%, respectively, from the prior year.
Any recent changes to analyst estimates for AngloGold Ashanti should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 13.92% higher. AngloGold Ashanti presently features a Zacks Rank of #1 (Strong Buy).
In the context of valuation, AngloGold Ashanti is at present trading with a Forward P/E ratio of 10.12. This signifies a discount in comparison to the average Forward P/E of 13.12 for its industry.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 47, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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