ARGA Investment Management LP Acquires 244,212 Shares of AngloGold Ashanti PLC $AU

ARGA Investment Management LP raised its holdings in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 27.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,137,018 shares of the mining company's stock after purchasing an additional 244,212 shares during the quarter. AngloGold Ashanti makes up 2.7% of ARGA Investment Management LP's holdings, making the stock its 11th biggest position. ARGA Investment Management LP owned about 0.23% of AngloGold Ashanti worth $106,823,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AU. Bank of America Corp DE grew its holdings in AngloGold Ashanti by 93.6% in 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. Handelsbanken Fonder AB boosted its position in shares of AngloGold Ashanti by 26.7% in the second quarter. Handelsbanken Fonder AB now owns 202,909 shares of the mining company's stock valued at $16,413,000 after acquiring an additional 42,714 shares during the period. Perpetual Ltd boosted its position in shares of AngloGold Ashanti by 71.1% in the third 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 during the period. Steel Grove Capital Advisors LLC bought a new stake in shares of AngloGold Ashanti in the third quarter valued at about $2,313,000. Finally, NorthCrest Asset Manangement LLC grew its stake in shares of AngloGold Ashanti by 12.8% in the third quarter. NorthCrest Asset Manangement LLC now owns 142,794 shares of the mining company's stock valued at $12,963,000 after acquiring an additional 16,232 shares in the last quarter. 36.09% of the stock is currently owned by institutional investors and hedge funds.

AngloGold Ashanti Trading Down 1.0%

AU opened at $81.44 on Wednesday. The company's 50 day moving average is $97.51 and its 200-day moving average is $96.70. AngloGold Ashanti PLC has a 1-year low of $63.29 and a 1-year high of $129.14. The company has a current ratio of 2.71, a quick ratio of 2.07 and a debt-to-equity ratio of 0.15. The company has a market cap of $41.12 billion, a P/E ratio of 10.65 and a beta of 0.72.

Wall Street Analyst Weigh In

AU has been the topic of a number of recent research reports. TD Cowen initiated coverage on shares of AngloGold Ashanti in a research report on Monday. They set a "buy" rating and a $123.00 price target 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 target price on the stock. in a report on Thursday, September 10th. RBC Dominion Securities set a $110.00 price target on shares of AngloGold Ashanti and gave the company an "outperform" rating in a research report on Thursday, October 22nd. The Goldman Sachs Group assumed coverage on shares of AngloGold Ashanti in a research report on Thursday, October 15th. They issued a "buy" rating and a $104.00 price target for the company. Finally, Royal Bank Of Canada boosted their price target on AngloGold Ashanti from $111.00 to $119.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $118.35.

AngloGold Ashanti Profile

AngloGold Ashanti plc is a global gold mining company engaged in the exploration, development, and operation of gold mines. Its principal product is refined gold, and the company also produces related byproducts at certain operations. In addition to operating mines, AngloGold Ashanti maintains exploration and development projects intended to expand and sustain its production portfolio.

The company has a geographically diversified portfolio spanning Africa, Australia, and the Americas. Its operations and projects have included assets in Ghana, Tanzania, Guinea, Côte d'Ivoire, the Democratic Republic of the Congo, Australia, Brazil, and Argentina.

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