ANG.JO - AngloGold Ashanti Limited
Chart Events
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 42,450.00 |
| Open | 43,886.00 |
| Bid | 41,500.00 x 0 |
| Ask | 43,981.00 x 0 |
| Day's Range | 42,576.00 - 44,638.00 |
| 52 Week Range | 19,545.00 - 53,350.00 |
| Volume | 962,507 |
| Avg. Volume | 2,419,236 |
| Market Cap | 177.219B |
| Beta (5Y Monthly) | 0.11 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.03 |
| Earnings Date | Aug 06, 2020 - Aug 10, 2020 |
| Forward Dividend & Yield | 1.65 (0.39%) |
| Ex-Dividend Date | Mar 11, 2020 |
| 1y Target Est | 10.89 |
Fair Value
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AngloGold Ashanti (AU) has confirmed that operations at its Mponeng gold mine – which were running at 50% capacity – have been temporarily halted on a voluntary basis.The company explains that this new ‘precautionary step’ will enable it to complete contact tracing, and to deep clean and sanitize the workplace and key infrastructure.AngloGold Ashanti has conducted 650 Covid-19 tests since last Thursday, after a screening, tracing and testing program revealed several cases at the site in Merafong, in Gauteng Province, South Africa.This process has indicated 164 positive cases with only a handful of tests left to process. According to AU, of the positive cases, the vast majority are asymptomatic.“AngloGold Ashanti is committed to working with the South African government and other stakeholders to combat the spread of the virus and to deal with its after-effects” the company says, adding that it’s electronic tracking technology- normally used for underground workers- is helping locate primary, or close contacts.RBC Capital analyst James Bell has a buy rating on the stock and $29 price target (14% upside potential). Shares are currently trading up 14% year-to-date.He reiterated his buy rating following ‘difficult’ Q1 results, with both production and costs coming in weaker than forecast. However key asset sales remain on track- with AU on the cusp of selling its South African assets to Harmony Gold Mining for $300M.“We continue to see asset sales as a key catalyst for the group so positive progress in the SA sale process, including competition commission approval, should be welcomed” said Bell, who believes that an early H2 closure may still be possible. (See AU stock analysis on TipRanks).Related News: Positive Exploration Results Could Drive Upside for Yamana Gold, Says Analyst Micron Has More Than Enough Tailwinds to Offset Huawei Sanctions, Says Top Analyst Baidu May Use Nasdaq Delisting To Boost Value – Report More recent articles from Smarter Analyst: * Amazon’s Jeff Bezos Invests In UK Freight Startup Beacon * Google Delays Rollout Of Android Beta Version Amid U.S. Protests * Facebook Holds ‘Productive’ Call With Trump, As Social Media War Rages On * Nordstrom's Shares Drop 12% on Difficult Quarter
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(Bloomberg) -- AngloGold Ashanti Ltd., temporarily halted work at its Mponeng gold mine in South Africa after more than 164 workers tested positive for Covid-19.The world’s third-largest gold miner detected a cluster of infections after a mass testing campaign, and the majority of confirmed cases were asymptomatic, said Chris Nthite, a spokesman for the company. AngloGold conducted 650 tests since Thursday, he added. Mponeng, the last of AngloGold’s South African assets, employs about 5,000 workers.“As a precautionary step, operations at Mponeng Mine -– which were running at 50% capacity -– have been temporarily halted on a voluntary basis to complete contact tracing and to again deep clean and sanitize the workplace and key infrastructure,” Nthite said.AngloGold is in the process of selling Mponeng, the world’s deepest mine, to Harmony Gold Mining Co., a deal that’s expected to close at end of June. The producer has suspended its guidance for full-year output of 3.05 million to 3.3 million ounces of gold amid the coronavirus pandemic.More on South African mining challengesWorkers in South Africa’s mines, which employ more than 450,000 people, are particularly vulnerable as they toil in cramped shafts that can reach more than two miles underground, before returning to overcrowded hostels and shanty towns.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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