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AngloGold Ashanti (AU) Suffers a Larger Drop Than the General Market: Key Insights

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AngloGold Ashanti (AU - Free Report) closed at $24.28 in the latest trading session, marking a -0.41% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.02%. Meanwhile, the Dow lost 0.21%, and the Nasdaq, a tech-heavy index, added 0.29%.

Shares of the gold miner witnessed a gain of 2.22% over the previous month, beating the performance of the Basic Materials sector with its loss of 0.13% and the S&P 500's gain of 1.29%.

The upcoming earnings release of AngloGold Ashanti will be of great interest to investors. Meanwhile, our latest consensus estimate is calling for revenue of $1.22 billion, up 18.9% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.84 per share and revenue of $5.5 billion, indicating changes of +2681.82% and +19.93%, respectively, compared to the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for AngloGold Ashanti. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 60.45% increase. Currently, AngloGold Ashanti is carrying a Zacks Rank of #1 (Strong Buy).

In terms of valuation, AngloGold Ashanti is currently trading at a Forward P/E ratio of 8.58. This denotes a discount relative to the industry's average Forward P/E of 16.5.

The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 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.

Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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