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AngloGold (AU) closed the most recent trading day at $18.47, moving -0.43% from the previous trading session. This change lagged the S&P 500’s daily loss of 0.28%. Meanwhile, the Dow gained 0.39%, and the Nasdaq, a tech-heavy index, lost 6.73%.
Heading into today, shares of the gold miner had lost 16.78% over the past month, lagging the Basic Materials sector’s loss of 1.67% and the S&P 500’s gain of 2.48% in that time.
Wall Street will be looking for positivity from AngloGold as it approaches its next earnings report date.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.56 per share and revenue of $4.72 billion. These totals would mark changes of +6.85% and +17.07%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for AngloGold. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 14.75% lower within the past month. AngloGold is currently a Zacks Rank #3 (Hold).
Looking at its valuation, AngloGold is holding a Forward P/E ratio of 11.89. Its industry sports an average Forward P/E of 17.63, so we one might conclude that AngloGold is trading at a discount comparatively.
The Mining – Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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