AngloGold Ashanti PLC $AU Stock Acquired by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management increased its AngloGold Ashanti stake by 4.4% in the third quarter, bringing its holdings to 285,337 shares valued at approximately $26.8 million. Institutional investors collectively own 36.09% of the company.
• AngloGold Ashanti shares fell 2.0% to $91.56, while the company’s latest quarterly results missed analyst expectations on both earnings and revenue. Analysts project full-year EPS of $8.16.
• The company reduced its quarterly dividend to $0.72 from $1.16, resulting in an annualized dividend of $2.88 and a 3.1% yield. Wall Street maintains a “Moderate Buy” consensus rating with an average price target of $122.83.

Euro Pacific Asset Management LLC increased its holdings in AngloGold Ashanti PLC (NYSE:AU - Free Report) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,337 shares of the mining company's stock after purchasing an additional 12,051 shares during the period. AngloGold Ashanti makes up 1.8% of Euro Pacific Asset Management LLC's portfolio, making the stock its 16th biggest position. Euro Pacific Asset Management LLC owned about 0.06% of AngloGold Ashanti worth $26,807,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew its stake in shares of AngloGold Ashanti by 1.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,386,503 shares of the mining company's stock valued at $620,874,000 after purchasing an additional 98,250 shares during the period. Wellington Management Group LLP lifted its position in shares of AngloGold Ashanti by 8.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,930,737 shares of the mining company's stock worth $156,214,000 after buying an additional 154,726 shares during the period. Man Group plc lifted its position in shares of AngloGold Ashanti by 113.9% during the 4th quarter. Man Group plc now owns 1,363,527 shares of the mining company's stock worth $116,282,000 after buying an additional 726,182 shares during the period. Bank of New York Mellon Corp acquired a new stake in AngloGold Ashanti in the 2nd quarter valued at $100,848,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in AngloGold Ashanti by 2.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 860,537 shares of the mining company's stock valued at $83,782,000 after buying an additional 23,482 shares in the last quarter. Institutional investors and hedge funds own 36.09% of the company's stock.

AngloGold Ashanti Trading Down 2.0%

Shares of AU traded down $1.88 during trading hours on Tuesday, hitting $91.56. 2,641,938 shares of the stock traded hands, compared to its average volume of 2,882,444. The company has a current ratio of 2.71, a quick ratio of 2.07 and a debt-to-equity ratio of 0.15. AngloGold Ashanti PLC has a 1-year low of $62.55 and a 1-year high of $129.14. The firm has a market capitalization of $46.23 billion, a PE ratio of 12.27 and a beta of 0.73. The business has a fifty day moving average of $101.85 and a 200-day moving average of $94.75.

AngloGold Ashanti (NYSE:AU - Get Free Report) last issued 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). AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. Analysts expect that AngloGold Ashanti PLC will post 8.16 EPS for the current year.

AngloGold Ashanti Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 21st were paid a $0.72 dividend. This is a decrease from AngloGold Ashanti's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, August 21st. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. AngloGold Ashanti's dividend payout ratio (DPR) is currently 6.70%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AU. Roth Capital lowered their price target on AngloGold Ashanti from $121.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Scotiabank cut their price objective on AngloGold Ashanti from $134.00 to $128.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of AngloGold Ashanti from $134.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, September 15th. Zacks Research raised shares of AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a report on Friday, September 11th. Finally, Weiss Ratings upgraded shares of AngloGold Ashanti from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.83.

About AngloGold Ashanti

AngloGold Ashanti plc NYSE: AU is a global gold mining company engaged in the exploration, development, and production of gold. Its activities include operating mines, processing ore into doré and bullion, and developing mineral resources and reserves. The company also conducts exploration and evaluation activities in areas with potential for additional gold discoveries.

The company has mining operations and projects across several regions, including Africa, Australia, the Americas, and other international markets.

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