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Why AngloGold Ashanti (AU) Outpaced the Stock Market Today
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In the latest trading session, AngloGold Ashanti (AU - Free Report) closed at $28.72, marking a +1.27% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 1.02%. Elsewhere, the Dow gained 1.09%, while the tech-heavy Nasdaq added 1.18%.
The gold miner's shares have seen an increase of 26.66% over the last month, surpassing the Basic Materials sector's loss of 3.78% and the S&P 500's gain of 4.44%.
The upcoming earnings release of AngloGold Ashanti will be of great interest to investors.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.29 per share and revenue of $5.08 billion, which would represent changes of +2181.82% and +10.78%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for AngloGold Ashanti. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.44% higher. As of now, AngloGold Ashanti holds a Zacks Rank of #5 (Strong Sell).
Digging into valuation, AngloGold Ashanti currently has a Forward P/E ratio of 12.38. Its industry sports an average Forward P/E of 16.09, so one might conclude that AngloGold Ashanti is trading at a discount comparatively.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 47, this industry ranks in the top 19% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why AngloGold Ashanti (AU) Outpaced the Stock Market Today
In the latest trading session, AngloGold Ashanti (AU - Free Report) closed at $28.72, marking a +1.27% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 1.02%. Elsewhere, the Dow gained 1.09%, while the tech-heavy Nasdaq added 1.18%.
The gold miner's shares have seen an increase of 26.66% over the last month, surpassing the Basic Materials sector's loss of 3.78% and the S&P 500's gain of 4.44%.
The upcoming earnings release of AngloGold Ashanti will be of great interest to investors.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.29 per share and revenue of $5.08 billion, which would represent changes of +2181.82% and +10.78%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for AngloGold Ashanti. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.44% higher. As of now, AngloGold Ashanti holds a Zacks Rank of #5 (Strong Sell).
Digging into valuation, AngloGold Ashanti currently has a Forward P/E ratio of 12.38. Its industry sports an average Forward P/E of 16.09, so one might conclude that AngloGold Ashanti is trading at a discount comparatively.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 47, this industry ranks in the top 19% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.