AngloGold Ashanti (AU) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2]. Company Overview: AngloGold Ashanti (AU) - AngloGold Ashanti currently holds a Momentum Style Score of B and a Zacks Rank of 1 (Strong Buy), indicating strong potential for outperformance in the market [3][4]. - The stock has shown significant price increases, with a rise of 49.14% over the past quarter and 81.24% over the last year, compared to the S&P 500's movements of -2.26% and 10.82% respectively [7]. Price Performance - Over the past week, AU shares increased by 8.1%, outperforming the Zacks Mining - Gold industry, which rose by 7.12% during the same period [6]. - The monthly price change for AU is 6.79%, significantly higher than the industry's performance of 1.9% [6]. Trading Volume - AU's average 20-day trading volume is 2,791,248 shares, which serves as a bullish indicator when combined with rising stock prices [8]. Earnings Outlook - In the last two months, two earnings estimates for AU have been revised upwards, with the consensus estimate increasing from $2.49 to $4.31 [10]. - For the next fiscal year, two estimates have also moved higher, with no downward revisions noted [10]. Conclusion - Given the strong momentum indicators and positive earnings outlook, AU is positioned as a promising investment opportunity [12].