AngloGold Ashanti PLC $AU Stock Holdings Raised by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its AngloGold Ashanti stake by 12.8% in the third quarter, bringing its holdings to 142,794 shares valued at approximately $13.0 million. Institutional investors collectively own 36.09% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $122.83; individual targets range from $110 to $140.
• AngloGold Ashanti shares opened at $93.48, while the company reported quarterly EPS of $1.98—slightly below expectations—and cut its quarterly dividend to $0.72 per share from $1.16.

NorthCrest Asset Manangement LLC lifted its position in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,794 shares of the mining company's stock after acquiring an additional 16,232 shares during the period. NorthCrest Asset Manangement LLC's holdings in AngloGold Ashanti were worth $12,963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Perpetual Ltd lifted its position in AngloGold Ashanti by 71.1% in the 3rd quarter. Perpetual Ltd now owns 122,179 shares of the mining company's stock valued at $11,479,000 after acquiring an additional 50,752 shares in the last quarter. Athena Wealth Management LLC purchased a new stake in AngloGold Ashanti during the 3rd quarter valued at $290,000. Cadent Capital Advisors LLC purchased a new stake in AngloGold Ashanti during the 3rd quarter valued at $205,000. Monument Capital Management increased its holdings in shares of AngloGold Ashanti by 6.5% in the 3rd quarter. Monument Capital Management now owns 4,037 shares of the mining company's stock worth $379,000 after purchasing an additional 245 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of AngloGold Ashanti by 27.9% in the 3rd quarter. GAMMA Investing LLC now owns 6,049 shares of the mining company's stock worth $568,000 after purchasing an additional 1,321 shares in the last quarter. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on AngloGold Ashanti from $134.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 15th. Citigroup dropped their price objective on AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Zacks Research raised AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research report on Friday, September 11th. Roth Capital reduced their price objective on AngloGold Ashanti from $121.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. Finally, BMO Capital Markets lowered AngloGold Ashanti from an "outperform" rating to a "market perform" rating and set a $115.00 target price for the company. in a research report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $122.83.

AngloGold Ashanti Stock Down 0.7%

Shares of AngloGold Ashanti stock opened at $93.48 on Tuesday. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 12.53 and a beta of 0.73. The company's 50 day moving average is $101.85 and its 200 day moving average is $94.75. AngloGold Ashanti PLC has a twelve month low of $62.55 and a twelve month high of $129.14. 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 (NYSE:AU - Get Free Report) last issued its earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share (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 company had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.20 billion. Research analysts anticipate that AngloGold Ashanti PLC will post 8.16 EPS for the current year.

AngloGold Ashanti Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 21st were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend 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 payout ratio is currently 6.70%.

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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