AngloGold Ashanti (AU) closed the most recent trading day at $94.63, moving +2% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.17%. Meanwhile, the Dow experienced a drop of 0.26%, and the technology-dominated Nasdaq saw a decrease of 0.09%.
The gold miner's stock has dropped by 17.41% in the past month, falling short of the Basic Materials sector's loss of 8.27% and the S&P 500's loss of 0.24%.
Investors will be eagerly watching for the performance of AngloGold Ashanti in its upcoming earnings disclosure. The company is expected to report EPS of $1.84, up 39.39% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $3.05 billion, reflecting a 28.36% rise from the equivalent quarter last year.
AU's full-year Zacks Consensus Estimates are calling for earnings of $8.16 per share and revenue of $12.27 billion. These results would represent year-over-year changes of +51.96% and +26.11%, respectively.
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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.16% higher. AngloGold Ashanti is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note AngloGold Ashanti's current valuation metrics, including its Forward P/E ratio of 11.37. This represents a discount compared to its industry average Forward P/E of 12.33.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 209, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>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 Report
This article originally published on Zacks Investment Research (zacks.com).