AngloGold Ashanti PLC $AU Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in AngloGold Ashanti by 10% in the first quarter, selling 47,400 shares and leaving it with 426,373 shares valued at about $41.5 million.
• AngloGold Ashanti reported strong quarterly results, posting $2.52 EPS versus the $2.27 estimate, while revenue came in slightly below expectations at $3.24 billion.
• The company raised its dividend sharply to $1.16 per quarter, equal to a $4.64 annualized payout and a 5.8% yield, up from the prior $0.17 quarterly dividend.

Gabelli Funds LLC decreased its stake in AngloGold Ashanti PLC (NYSE:AU - Free Report) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 426,373 shares of the mining company's stock after selling 47,400 shares during the period. Gabelli Funds LLC owned approximately 0.08% of AngloGold Ashanti worth $41,512,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Empowered Funds LLC purchased a new stake in shares of AngloGold Ashanti during the 1st quarter valued at about $321,000. Northwestern Mutual Wealth Management Co. boosted its holdings in AngloGold Ashanti by 30.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the mining company's stock worth $47,000 after acquiring an additional 238 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in AngloGold Ashanti by 106.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,367 shares of the mining company's stock worth $153,000 after acquiring an additional 1,734 shares during the period. First Trust Advisors LP grew its position in AngloGold Ashanti by 88.4% in the second quarter. First Trust Advisors LP now owns 136,543 shares of the mining company's stock valued at $6,200,000 after acquiring an additional 64,066 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new stake in AngloGold Ashanti in the second quarter valued at approximately $1,740,000. Institutional investors and hedge funds own 36.09% of the company's stock.

AngloGold Ashanti Stock Performance

AngloGold Ashanti stock opened at $79.70 on Friday. AngloGold Ashanti PLC has a 52 week low of $45.36 and a 52 week 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 stock has a market cap of $40.24 billion, a P/E ratio of 11.69 and a beta of 0.65. The stock has a 50 day moving average of $85.50 and a 200-day moving average of $96.57.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The mining company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.25. The firm had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.26 billion. AngloGold Ashanti had a net margin of 31.11% and a return on equity of 36.41%. On average, analysts expect that AngloGold Ashanti PLC will post 8.23 EPS for the current fiscal year.

AngloGold Ashanti Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, May 29th. This is an increase from AngloGold Ashanti's previous quarterly dividend of $0.17. AngloGold Ashanti's payout ratio is presently 68.04%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research lowered shares of AngloGold Ashanti from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 15th. Scotiabank decreased their target price on shares of AngloGold Ashanti from $134.00 to $128.00 and set a "sector outperform" rating for the company in a research note on Tuesday, July 14th. Freedom Capital raised shares of AngloGold Ashanti to a "strong-buy" rating in a report on Friday, June 26th. JPMorgan Chase & Co. dropped their price target on shares of AngloGold Ashanti from $155.00 to $134.00 and set an "overweight" rating on the stock in a research note on Thursday, July 16th. Finally, Citigroup lowered their target price on AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating for the company in a research note on Wednesday, July 15th. One investment 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. According to data from MarketBeat.com, the company presently has an average 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.

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