Mackenzie Financial Corp Has $65.12 Million Stake in AngloGold Ashanti PLC (NYSE:AU)

Key Points

• Mackenzie Financial Corp increased its stake in AngloGold Ashanti PLC by 22.3%, owning approximately 1,754,409 shares valued at $65.12 million after acquiring an additional 319,783 shares.
• Wall Street analysts have raised price targets for AngloGold Ashanti, with JPMorgan increasing its target from $58 to $63 and Scotiabank from $42 to $43.50, while the stock has an average rating of "Moderate Buy."
• AngloGold Ashanti's recent quarterly earnings showed an EPS of $0.88 and revenue of $1.93 billion, surpassing analyst expectations, although the company also cut its dividend to $0.125 per share.

Mackenzie Financial Corp grew its stake in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 22.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,754,409 shares of the mining company's stock after acquiring an additional 319,783 shares during the quarter. Mackenzie Financial Corp owned about 0.42% of AngloGold Ashanti worth $65,124,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. LPL Financial LLC increased its stake in shares of AngloGold Ashanti by 84.2% during the 1st quarter. LPL Financial LLC now owns 127,220 shares of the mining company's stock valued at $4,722,000 after acquiring an additional 58,169 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of AngloGold Ashanti by 4.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 244,143 shares of the mining company's stock valued at $9,063,000 after acquiring an additional 11,514 shares during the last quarter. TD Asset Management Inc increased its stake in shares of AngloGold Ashanti by 2.6% during the 1st quarter. TD Asset Management Inc now owns 162,415 shares of the mining company's stock valued at $6,029,000 after acquiring an additional 4,149 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of AngloGold Ashanti during the 1st quarter valued at about $1,162,000. Finally, IFP Advisors Inc grew its holdings in shares of AngloGold Ashanti by 769.5% during the 1st quarter. IFP Advisors Inc now owns 2,939 shares of the mining company's stock worth $109,000 after purchasing an additional 2,601 shares during the period. Institutional investors and hedge funds own 36.09% of the company's stock.

AngloGold Ashanti Price Performance

NYSE:AU traded up $0.50 during mid-day trading on Tuesday, reaching $50.01. 1,412,622 shares of the stock were exchanged, compared to its average volume of 2,305,443. The business has a fifty day moving average price of $46.84 and a 200 day moving average price of $39.08. The firm has a market capitalization of $20.99 billion, a PE ratio of 16.45 and a beta of 0.48. AngloGold Ashanti PLC has a 1-year low of $22.45 and a 1-year high of $51.93. The company has a current ratio of 2.34, a quick ratio of 1.57 and a debt-to-equity ratio of 0.22.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its earnings results on Friday, May 9th. The mining company reported $0.88 earnings per share (EPS) for the quarter. AngloGold Ashanti had a return on equity of 21.18% and a net margin of 21.09%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.84 billion. Research analysts expect that AngloGold Ashanti PLC will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a $0.125 dividend. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 1.14%. AngloGold Ashanti's dividend payout ratio (DPR) is 16.45%.

Wall Street Analysts Forecast Growth

AU has been the subject of a number of research reports. Wall Street Zen cut AngloGold Ashanti from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st. HSBC reiterated a "reduce" rating and set a $35.00 target price on shares of AngloGold Ashanti in a report on Thursday, April 17th. JPMorgan Chase & Co. boosted their target price on AngloGold Ashanti from $58.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Scotiabank increased their price objective on shares of AngloGold Ashanti from $42.00 to $43.50 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Finally, Roth Capital increased their price objective on shares of AngloGold Ashanti from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $45.08.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.