AngloGold Ashanti PLC $AU Stock Sold by Global Strategic Management Inc.

Key Points

• Global Strategic Management Inc. reduced its AngloGold Ashanti stake by 62% in the third quarter, selling 22,060 shares and retaining 13,540 shares valued at approximately $1.28 million.
• Other institutional investors increased their positions, while institutional ownership of AngloGold Ashanti stood at 36.09%. Analysts maintained an overall “Buy” consensus with an average price target of $120.14.
• AngloGold Ashanti reported quarterly earnings of $1.98 per share, slightly below estimates, and revenue of $3.10 billion. The company also cut its quarterly dividend to $0.72 from $1.16, resulting in an annualized yield of about 3.1%.

Global Strategic Management Inc. trimmed its position in AngloGold Ashanti PLC (NYSE:AU - Free Report) by 62.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,540 shares of the mining company's stock after selling 22,060 shares during the period. AngloGold Ashanti accounts for 0.9% of Global Strategic Management Inc.'s investment portfolio, making the stock its 18th biggest position. Global Strategic Management Inc.'s holdings in AngloGold Ashanti were worth $1,275,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of AngloGold Ashanti during the 2nd quarter valued at about $100,848,000. Man Group plc increased its stake in AngloGold Ashanti by 113.9% in the fourth quarter. Man Group plc now owns 1,363,527 shares of the mining company's stock valued at $116,282,000 after acquiring an additional 726,182 shares during the last quarter. Renaissance Technologies LLC bought a new stake in AngloGold Ashanti during the first quarter worth about $54,152,000. Carrhae Capital LLP boosted its holdings in shares of AngloGold Ashanti by 199.1% in the 2nd quarter. Carrhae Capital LLP now owns 756,610 shares of the mining company's stock worth $61,202,000 after purchasing an additional 503,644 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of AngloGold Ashanti by 93.6% during the 1st quarter. Bank of America Corp DE now owns 800,951 shares of the mining company's stock valued at $77,981,000 after buying an additional 387,196 shares in the last quarter. Institutional investors own 36.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. Weiss Ratings raised shares of AngloGold Ashanti from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. Zacks Research raised shares of AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a report on Friday, September 11th. Roth Capital decreased 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, Royal Bank Of Canada boosted their price target on shares of AngloGold Ashanti from $111.00 to $119.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $120.14.

AngloGold Ashanti Price Performance

AU opened at $91.44 on Friday. The stock's 50 day simple moving average is $102.12 and its 200 day simple moving average is $94.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.07. AngloGold Ashanti PLC has a 1 year low of $62.55 and a 1 year high of $129.14. The firm has a market cap of $46.17 billion, a price-to-earnings ratio of 12.26 and a beta of 0.73.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The mining company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.20 billion. As a group, analysts predict that AngloGold Ashanti PLC will post 8.16 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were issued a $0.72 dividend. This is a drop 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 yield of 3.1%. AngloGold Ashanti's payout ratio is 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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