AngloGold Ashanti PLC $AU Shares Sold by Coronation Fund Managers Ltd.

Key Points

• Coronation Fund Managers Ltd. has significantly reduced its stake in AngloGold Ashanti PLC by **85.7%**, selling over 1.4 million shares in the second quarter.
• Research analysts have mixed ratings for AngloGold Ashanti, with **three "Buy"**, **three "Hold"**, and one "Sell" rating, leading to a consensus average target price of **$58.00**.
• The company's recent earnings report showed an EPS of **$1.25**, which fell short of estimates, though revenue exceeded expectations at **$2.45 billion** for the quarter.

Coronation Fund Managers Ltd. decreased its position in AngloGold Ashanti PLC (NYSE:AU - Free Report) by 85.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,117 shares of the mining company's stock after selling 1,459,105 shares during the quarter. Coronation Fund Managers Ltd. owned 0.06% of AngloGold Ashanti worth $11,079,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Drive Wealth Management LLC acquired a new position in shares of AngloGold Ashanti in the 2nd quarter worth approximately $357,000. Lesa Sroufe & Co boosted its position in AngloGold Ashanti by 1.9% during the 2nd quarter. Lesa Sroufe & Co now owns 127,815 shares of the mining company's stock valued at $5,825,000 after purchasing an additional 2,367 shares during the period. Ritholtz Wealth Management boosted its position in AngloGold Ashanti by 53.0% during the 2nd quarter. Ritholtz Wealth Management now owns 9,793 shares of the mining company's stock valued at $446,000 after purchasing an additional 3,393 shares during the period. Kiker Wealth Management LLC acquired a new position in AngloGold Ashanti during the 2nd quarter valued at approximately $168,000. Finally, Yousif Capital Management LLC boosted its position in AngloGold Ashanti by 102.6% during the 2nd quarter. Yousif Capital Management LLC now owns 13,101 shares of the mining company's stock valued at $597,000 after purchasing an additional 6,636 shares during the period. Institutional investors and hedge funds own 36.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AU shares. JPMorgan Chase & Co. boosted their price objective on AngloGold Ashanti from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Roth Capital set a $76.00 price objective on AngloGold Ashanti and gave the company a "buy" rating in a research report on Friday, October 3rd. HSBC reaffirmed a "reduce" rating and set a $55.00 target price on shares of AngloGold Ashanti in a research note on Thursday, October 9th. Zacks Research raised AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of AngloGold Ashanti in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $58.00.

AngloGold Ashanti Stock Up 1.8%

Shares of AngloGold Ashanti stock opened at $75.22 on Tuesday. The stock's fifty day moving average is $64.60 and its 200-day moving average is $52.10. The firm has a market capitalization of $31.57 billion, a PE ratio of 20.00 and a beta of 0.53. The company has a quick ratio of 2.22, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. AngloGold Ashanti PLC has a 12-month low of $22.45 and a 12-month high of $79.94.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its earnings results on Friday, August 1st. The mining company reported $1.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.31 by ($0.06). The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.29 billion. AngloGold Ashanti had a return on equity of 22.54% and a net margin of 23.60%. Equities analysts anticipate that AngloGold Ashanti PLC will post 3.83 earnings per share for the current year.

AngloGold Ashanti Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were given a dividend of $0.80 per share. This represents a dividend yield of 610.0%. This is a boost from AngloGold Ashanti's previous semi-annual dividend of $0.69. The ex-dividend date of this dividend was Friday, August 22nd. AngloGold Ashanti's payout ratio is presently 85.11%.

AngloGold Ashanti Profile

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.

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