AngloGold Ashanti PLC $AU Shares Bought by Bank of America Corp DE

Key Points

• Bank of America nearly doubled its AngloGold Ashanti stake in the first quarter, increasing holdings by 93.6% to 800,951 shares worth approximately $78.0 million. Institutional investors collectively own 36.09% of the company.
• AngloGold Ashanti reported quarterly EPS of $1.98, slightly below the $2.03 consensus estimate, while revenue of $3.10 billion also missed analyst expectations of $3.20 billion.
• The company declared a quarterly dividend of $0.72 per share, equivalent to an annualized $2.88 payout and a 3.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $110.50.

Bank of America Corp DE lifted its position in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 93.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 800,951 shares of the mining company's stock after buying an additional 387,196 shares during the quarter. Bank of America Corp DE owned approximately 0.16% of AngloGold Ashanti worth $77,981,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AU. Ascentis Independent Advisors acquired a new stake in shares of AngloGold Ashanti during the first quarter worth $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of AngloGold Ashanti in the fourth quarter valued at $31,000. Garton & Associates Financial Advisors LLC acquired a new position in AngloGold Ashanti in the fourth quarter valued at $34,000. Ancora Advisors LLC purchased a new position in AngloGold Ashanti during the third quarter worth about $35,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in AngloGold Ashanti during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 36.09% of the company's stock.

AngloGold Ashanti Price Performance

AU stock opened at $96.27 on Monday. The stock has a 50-day moving average price of $83.51 and a two-hundred day moving average price of $95.74. AngloGold Ashanti PLC has a 12-month low of $52.05 and a 12-month high of $129.14. The company has a current ratio of 2.71, a quick ratio of 2.11 and a debt-to-equity ratio of 0.19. The company has a market cap of $48.60 billion, a PE ratio of 12.90 and a beta of 0.66.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.05). The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. AngloGold Ashanti had a return on equity of 39.54% and a net margin of 32.19%. As a group, research analysts predict that AngloGold Ashanti PLC will post 8.19 EPS for the current year.

AngloGold Ashanti Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, August 21st. AngloGold Ashanti's payout ratio is currently 62.20%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Freedom Capital raised AngloGold Ashanti to a "strong-buy" rating in a research note on Friday, June 26th. Weiss Ratings lowered shares of AngloGold Ashanti from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 3rd. Roth Capital decreased their target price on shares of AngloGold Ashanti from $121.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Citigroup lowered their target price on shares of AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. Finally, Wall Street Zen lowered shares of AngloGold Ashanti from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $110.50.

AngloGold Ashanti Company Profile

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.

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