AngloGold Ashanti (AU) Dips More Than Broader Market: What You Should Know

The latest trading session saw AngloGold Ashanti (AU) ending at $28.63, denoting a -1.72% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.33%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 0.56%.The gold miner's stock has climbed by 7.21% in the past month, exceeding the Basic Materials sector's loss of 4.77% and the S&P 500's gain of 1.83%.Analysts and investors alike will be keeping a close eye on the performance of AngloGold Ashanti in its upcoming earnings disclosure. The company's earnings report is set to go public on November 7, 2024.For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.50 per share and a revenue of $5.84 billion, signifying shifts of +2372.73% and +27.44%, respectively, from the last year.It's also important for investors to be aware of any recent modifications to analyst estimates for AngloGold Ashanti. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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, the Zacks Consensus EPS estimate has moved 3.29% lower. Currently, AngloGold Ashanti is carrying a Zacks Rank of #3 (Hold).Looking at valuation, AngloGold Ashanti is presently trading at a Forward P/E ratio of 11.68. This denotes a discount relative to the industry's average Forward P/E of 15.7.The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 11, putting it in the top 5% 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.To follow AU in the coming trading sessions, be sure to utilize Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks