AngloGold Ashanti PLC $AU Shares Bought by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management increased its AngloGold Ashanti stake by 4.4% in the third quarter, to 285,395 shares valued at about $26.8 million. The stock represents 1.9% of the fund’s portfolio.
• AngloGold Ashanti reported quarterly EPS of $1.54 and revenue of $2.62 billion, both below analyst expectations. It also cut its quarterly dividend to $0.125 per share from $0.72.
• The company plans to invest about $900 million in mine expansions to boost production by 2030; analysts’ consensus rating is “Buy,” with an average price target of $118.35.

Euro Pacific Asset Management LLC lifted its holdings in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 285,395 shares of the mining company's stock after purchasing an additional 12,109 shares during the quarter. AngloGold Ashanti comprises about 1.9% of Euro Pacific Asset Management LLC's investment portfolio, making the stock its 15th biggest position. Euro Pacific Asset Management LLC owned about 0.06% of AngloGold Ashanti worth $26,813,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Latitude Advisors LLC acquired a new position in AngloGold Ashanti in the third quarter valued at $25,000. Ascentis Independent Advisors acquired a new stake in AngloGold Ashanti in the 1st quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in AngloGold Ashanti in the 3rd quarter worth about $31,000. Ancora Advisors LLC acquired a new stake in AngloGold Ashanti in the 2nd quarter worth about $30,000. Finally, KBC Group NV purchased a new stake in AngloGold Ashanti in the 1st quarter valued at about $55,000. Hedge funds and other institutional investors own 36.09% of the company's stock.

AngloGold Ashanti Stock Down 0.0%

Shares of NYSE:AU opened at $92.96 on Monday. The company has a market capitalization of $46.94 billion, a price-to-earnings ratio of 12.09 and a beta of 0.72. The company has a 50 day moving average of $95.71 and a two-hundred day moving average of $96.52. AngloGold Ashanti PLC has a 52-week low of $67.82 and a 52-week high of $129.14. The company has a quick ratio of 2.07, a current ratio of 2.71 and a debt-to-equity ratio of 0.15.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its earnings results on Thursday, November 5th. The mining company reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.76 by ($0.22). The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.89 billion. AngloGold Ashanti had a return on equity of 39.17% and a net margin of 32.63%. As a group, analysts forecast that AngloGold Ashanti PLC will post 8.06 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 27th will be issued a $0.1250 dividend. The ex-dividend date is Friday, November 27th. This represents a $0.50 dividend on an annualized basis and a yield of 0.5%. This is a decrease from AngloGold Ashanti's previous quarterly dividend of $0.72. AngloGold Ashanti's dividend payout ratio (DPR) is presently 6.50%.

Trending Headlines about AngloGold Ashanti

Here are the key news stories impacting AngloGold Ashanti this week:

• Positive Sentiment: AngloGold plans to invest about $900 million in mine expansions to increase production by 2030. The spending targets existing operations and offers a potential longer-term production-growth catalyst. Article: AngloGold plans $900 million mine expansion amid stronger profit
• Positive Sentiment: Third-quarter profit rose 18%, and coverage of the earnings call highlighted strong free cash flow, providing some support despite weaker production. Article: AngloGold Profit Up 18% as Gold Output Slips
• Negative Sentiment: Quarterly results fell short of expectations: EPS was $1.54 versus the $1.76 consensus, while revenue of $2.62 billion was below the $2.89 billion forecast. Gold output also slipped, tempering the profit growth.
• Negative Sentiment: The company declared a quarterly dividend of $0.125 per share, an 82.6% reduction from the prior $0.72 payment. The lower payout may weigh on income-focused investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on AU shares. Zacks Research raised shares of AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research note on Friday, September 11th. Citigroup cut their price objective on shares of AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. The Goldman Sachs Group started coverage on shares of AngloGold Ashanti in a research report on Thursday, October 15th. They issued a "buy" rating and a $104.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of AngloGold Ashanti from $139.00 to $138.00 and set an "overweight" rating for the company in a report on Friday, October 30th. Finally, Royal Bank Of Canada upped their price target on shares of AngloGold Ashanti from $111.00 to $119.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 16th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $118.35.

AngloGold Ashanti Company Profile

AngloGold Ashanti is a global gold mining company that explores for, develops and operates gold mines. Gold is its primary product, and the company also produces silver and other by-products at some operations.

The company's operations and projects span Africa, Australia and the Americas. Its portfolio includes mines and development projects in countries such as Ghana, Tanzania, Guinea, Australia, Brazil and Argentina.

AngloGold Ashanti was formed in 1998 through the consolidation of gold mining interests held by Anglo American in South Africa.

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