AQR Capital Management LLC Sells 692,201 Shares of AngloGold Ashanti PLC $AU

Key Points

• AQR Capital Management LLC significantly reduced its stake in AngloGold Ashanti PLC by 74.4%, selling 692,201 shares during the first quarter, leaving it with 238,580 shares valued at approximately $8.86 million.
• AngloGold Ashanti's recent quarterly earnings reported an EPS of $1.25, which fell short of the consensus estimate of $1.31, despite revenues exceeding expectations at $2.45 billion.
• The company announced a dividend increase to $0.80 per share from a previous $0.69, reflecting a dividend yield of 610.0% and a payout ratio of 85.11%.

AQR Capital Management LLC decreased its position in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 74.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 238,580 shares of the mining company's stock after selling 692,201 shares during the period. AQR Capital Management LLC owned 0.06% of AngloGold Ashanti worth $8,856,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hara Capital LLC bought a new position in shares of AngloGold Ashanti in the fourth quarter worth approximately $29,000. Global Trust Asset Management LLC purchased a new position in shares of AngloGold Ashanti during the 1st quarter valued at $30,000. MJT & Associates Financial Advisory Group Inc. bought a new position in AngloGold Ashanti in the 1st quarter worth $30,000. SVB Wealth LLC purchased a new stake in AngloGold Ashanti in the 1st quarter worth $32,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in AngloGold Ashanti in the 1st quarter worth $77,000. Hedge funds and other institutional investors own 36.09% of the company's stock.

AngloGold Ashanti Price Performance

Shares of NYSE AU traded down $1.43 during midday trading on Tuesday, reaching $65.67. 4,505,050 shares of the stock traded hands, compared to its average volume of 3,065,013. The company's 50 day moving average is $54.56 and its 200 day moving average is $45.72. AngloGold Ashanti PLC has a one year low of $22.45 and a one year high of $67.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.22. The stock has a market capitalization of $27.56 billion, a PE ratio of 17.47 and a beta of 0.54.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The mining company reported $1.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.31 by ($0.06). AngloGold Ashanti had a net margin of 23.60% and a return on equity of 22.54%. The business had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.29 billion. On average, equities research analysts anticipate that AngloGold Ashanti PLC will post 3.83 earnings per share for the current year.

AngloGold Ashanti Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a $0.80 dividend. This represents a dividend yield of 610.0%. The ex-dividend date of this dividend was Friday, August 22nd. This is a positive change from AngloGold Ashanti's previous semi-annual dividend of $0.69. AngloGold Ashanti's payout ratio is 85.11%.

Analyst Ratings Changes

Several brokerages have recently commented on AU. Scotiabank restated a "sector perform" rating and issued a $55.00 price objective on shares of AngloGold Ashanti in a research report on Monday, August 11th. Zacks Research cut AngloGold Ashanti from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Roth Capital restated a "buy" rating on shares of AngloGold Ashanti in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of AngloGold Ashanti from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen downgraded shares of AngloGold Ashanti from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $49.60.

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.