AngloGold Ashanti (AU) closed the most recent trading day at $91.52, moving -1.4% from the previous trading session. This change lagged the S&P 500's daily gain of 0.41%. On the other hand, the Dow registered a loss of 0.07%, and the technology-centric Nasdaq increased by 1.11%.
Heading into today, shares of the gold miner had lost 10.14% over the past month, lagging the Basic Materials sector's loss of 3.62% and the S&P 500's gain of 1.46%.
Market participants will be closely following the financial results of AngloGold Ashanti in its upcoming release. The company is predicted to post an EPS of $1.84, indicating a 39.39% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $3.05 billion, indicating a 28.36% growth compared to the corresponding quarter of the prior year.
AU's full-year Zacks Consensus Estimates are calling for earnings of $8.18 per share and revenue of $12.3 billion. These results would represent year-over-year changes of +52.33% and +26.4%, respectively.
Investors might also notice recent changes to analyst estimates for AngloGold Ashanti. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.29% rise in the Zacks Consensus EPS estimate. AngloGold Ashanti is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, AngloGold Ashanti is at present trading with a Forward P/E ratio of 11.35. This signifies a discount in comparison to the average Forward P/E of 11.6 for its industry.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AU in the coming trading sessions, be sure to utilize Zacks.com.
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AngloGold Ashanti PLC (AU): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).