AngloGold Ashanti PLC $AU Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its AngloGold Ashanti stake by 4.6% in the first quarter, though it still owned 1.26 million shares valued at about $123.1 million.
• AngloGold Ashanti reported stronger-than-expected quarterly results, with EPS of $2.52 beating estimates, and it also raised its dividend to $1.16 per share quarterly, implying a 6.0% yield.
• Analyst sentiment remains mixed but constructive overall: the stock carries a Moderate Buy consensus with an average price target of $110.50, even as several firms recently trimmed targets or downgraded ratings.

Bank of New York Mellon Corp lessened its stake in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,263,884 shares of the mining company's stock after selling 60,902 shares during the period. Bank of New York Mellon Corp owned 0.25% of AngloGold Ashanti worth $123,052,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ascentis Independent Advisors acquired a new position in AngloGold Ashanti in the 1st quarter valued at about $26,000. Zions Bancorporation National Association UT acquired a new position in AngloGold Ashanti in the fourth quarter valued at approximately $31,000. Garton & Associates Financial Advisors LLC acquired a new position in AngloGold Ashanti in the fourth quarter valued at approximately $34,000. Mcguire Capital Advisors Inc. purchased a new position in AngloGold Ashanti in the fourth quarter worth approximately $36,000. Finally, Global Retirement Partners LLC grew its position in AngloGold Ashanti by 454.1% in the fourth quarter. Global Retirement Partners LLC now owns 471 shares of the mining company's stock worth $40,000 after acquiring an additional 386 shares during the period. Institutional investors and hedge funds own 36.09% of the company's stock.

AngloGold Ashanti Stock Down 0.0%

Shares of AU opened at $76.75 on Monday. The stock has a market capitalization of $38.75 billion, a PE ratio of 11.25 and a beta of 0.65. AngloGold Ashanti PLC has a 1 year low of $45.36 and a 1 year high of $129.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.11 and a current ratio of 2.71. The company's 50-day simple moving average is $87.82 and its 200-day simple moving average is $96.90.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its earnings results on Friday, May 8th. The mining company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.25. AngloGold Ashanti had a net margin of 31.11% and a return on equity of 36.41%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.26 billion. Analysts forecast that AngloGold Ashanti PLC will post 8.79 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Friday, May 29th. This is a positive change from AngloGold Ashanti's previous quarterly dividend of $0.17. AngloGold Ashanti's payout ratio is presently 68.04%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AU. Wall Street Zen cut AngloGold Ashanti from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. JPMorgan Chase & Co. reduced their price objective on shares of AngloGold Ashanti from $155.00 to $134.00 and set an "overweight" rating on the stock in a report on Thursday. Royal Bank Of Canada decreased their target price on shares of AngloGold Ashanti from $114.00 to $111.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Zacks Research lowered shares of AngloGold Ashanti from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 15th. Finally, Roth Capital dropped their price target on shares of AngloGold Ashanti from $121.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, AngloGold Ashanti currently has a consensus rating of "Moderate Buy" and an average price target of $110.50.

About AngloGold Ashanti

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.