Arlington Capital Management Inc. Buys New Position in AngloGold Ashanti PLC $AU

Key Points

• Arlington Capital Management Inc. acquired 45,121 shares of AngloGold Ashanti PLC for approximately $2,056,000, making it the firm's 19th largest holding.
• AngloGold Ashanti recently declared a new semi-annual dividend of $0.80 per share, up from $0.69, providing a yield of 610.0%.
• Analysts have mixed ratings on AngloGold Ashanti, with an average price target of $49.60 and recommendations ranging from "buy" to "strong sell".

Arlington Capital Management Inc. bought a new stake in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 45,121 shares of the mining company's stock, valued at approximately $2,056,000. AngloGold Ashanti accounts for 1.8% of Arlington Capital Management Inc.'s portfolio, making the stock its 19th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hara Capital LLC purchased a new position in shares of AngloGold Ashanti in the 4th quarter valued at about $29,000. Global Trust Asset Management LLC purchased a new position in shares of AngloGold Ashanti in the 1st quarter valued at about $30,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of AngloGold Ashanti in the 1st quarter valued at about $30,000. Financial Management Professionals Inc. purchased a new position in shares of AngloGold Ashanti in the 2nd quarter valued at about $30,000. Finally, SVB Wealth LLC purchased a new position in shares of AngloGold Ashanti in the 1st quarter valued at about $32,000. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research cut AngloGold Ashanti from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. Scotiabank reiterated a "sector perform" rating and issued a $55.00 price objective on shares of AngloGold Ashanti in a research note on Monday, August 11th. Wall Street Zen lowered AngloGold Ashanti from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. raised their target price on AngloGold Ashanti from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Roth Capital reissued a "buy" rating on shares of AngloGold Ashanti in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, AngloGold Ashanti presently has an average rating of "Hold" and an average target price of $49.60.

AngloGold Ashanti Price Performance

Shares of NYSE AU opened at $66.73 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.22 and a current ratio of 2.99. AngloGold Ashanti PLC has a fifty-two week low of $22.45 and a fifty-two week high of $69.98. The firm has a market capitalization of $28.01 billion, a PE ratio of 17.75 and a beta of 0.54. The stock's 50-day simple moving average is $56.96 and its 200-day simple moving average is $47.12.

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

AngloGold Ashanti Increases Dividend

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

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.

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