AngloGold Ashanti PLC $AU Stock Acquired by Perpetual Ltd

Key Points

• Perpetual Ltd increased its AngloGold Ashanti stake by 71.1% in the third quarter, bringing its holdings to 122,179 shares valued at approximately $11.5 million. Institutional investors collectively own 36.09% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $122.83, although several firms recently lowered targets or downgraded the stock.
• AngloGold Ashanti shares opened at $93.48, while the company’s latest quarterly results slightly missed estimates. The quarterly dividend was reduced to $0.72 per share, representing a 3.1% annualized yield.

Perpetual Ltd raised its holdings in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 71.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,179 shares of the mining company's stock after acquiring an additional 50,752 shares during the quarter. Perpetual Ltd's holdings in AngloGold Ashanti were worth $11,479,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Moody National Bank Trust Division lifted its stake in AngloGold Ashanti by 7.8% during the third quarter. Moody National Bank Trust Division now owns 2,777 shares of the mining company's stock worth $261,000 after purchasing an additional 202 shares during the last quarter. Monument Capital Management boosted its holdings in AngloGold Ashanti by 6.5% in the third quarter. Monument Capital Management now owns 4,037 shares of the mining company's stock valued at $379,000 after purchasing an additional 245 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in AngloGold Ashanti by 0.9% in the first quarter. Banque Cantonale Vaudoise now owns 27,795 shares of the mining company's stock valued at $2,667,000 after purchasing an additional 255 shares in the last quarter. Ascentis Independent Advisors purchased a new position in AngloGold Ashanti in the first quarter valued at approximately $26,000. Finally, Allen Capital Group LLC increased its stake in AngloGold Ashanti by 10.5% in the first quarter. Allen Capital Group LLC now owns 2,832 shares of the mining company's stock valued at $276,000 after purchasing an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 36.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BMO Capital Markets cut shares of AngloGold Ashanti from an "outperform" rating to a "market perform" rating and set a $115.00 price objective on the stock. in a report on Thursday, September 10th. JPMorgan Chase & Co. upped their target price on shares of AngloGold Ashanti from $134.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, September 15th. Citigroup dropped their target price on shares of AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Roth Capital dropped their target price on shares of AngloGold Ashanti from $121.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Finally, Scotiabank cut their price target on shares of AngloGold Ashanti from $134.00 to $128.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.83.

AngloGold Ashanti Stock Down 0.7%

Shares of NYSE AU opened at $93.48 on Tuesday. The stock has a market cap of $47.20 billion, a PE ratio of 12.53 and a beta of 0.73. 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 PLC has a 52-week low of $62.55 and a 52-week high of $129.14. The business has a 50-day moving average price of $101.85 and a 200 day moving average price of $94.75.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released 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 firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. Equities research analysts forecast that AngloGold Ashanti PLC will post 8.16 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 21st were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, August 21st. This is a negative change from AngloGold Ashanti's previous quarterly dividend of $1.16. AngloGold Ashanti's dividend payout ratio is presently 6.70%.

AngloGold Ashanti Profile

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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