Causeway Capital Management LLC Sells 118,279 Shares of AngloGold Ashanti PLC $AU

Key Points

• Causeway Capital Management LLC has reduced its stake in AngloGold Ashanti PLC by 23.6%, selling 118,279 shares and now owning approximately 0.09% of the company valued at $14.3 million.
• AngloGold Ashanti recently announced a semi-annual dividend of $0.80, up from $0.69, which reflects a dividend yield of 610.0%.
• In its latest earnings report, AngloGold Ashanti reported an EPS of $1.25, missing the consensus estimate, while revenue exceeded expectations at $2.45 billion.

Causeway Capital Management LLC lessened its stake in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 23.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 383,520 shares of the mining company's stock after selling 118,279 shares during the quarter. Causeway Capital Management LLC owned about 0.09% of AngloGold Ashanti worth $14,322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AU. Hara Capital LLC bought a new position in shares of AngloGold Ashanti in the fourth quarter worth $29,000. Global Trust Asset Management LLC acquired a new stake in shares of AngloGold Ashanti during the 1st quarter valued at $30,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of AngloGold Ashanti during the first quarter valued at about $30,000. SVB Wealth LLC acquired a new stake in AngloGold Ashanti during the 1st quarter worth approximately $32,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of AngloGold Ashanti during the first quarter worth $77,000. Institutional investors and hedge funds own 36.09% of the company's stock.

AngloGold Ashanti Stock Down 0.3%

Shares of NYSE:AU opened at $54.45 on Tuesday. AngloGold Ashanti PLC has a 52-week low of $22.45 and a 52-week high of $59.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.22 and a current ratio of 2.99. The firm has a market capitalization of $22.85 billion, a P/E ratio of 14.48 and a beta of 0.46. The stock has a 50 day moving average price of $50.16 and a 200-day moving average price of $42.60.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $2.29 billion. AngloGold Ashanti had a net margin of 23.60% and a return on equity of 22.54%. As a group, equities research analysts anticipate that AngloGold Ashanti PLC will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be paid a $0.80 dividend. This represents a dividend yield of 610.0%. This is an increase from AngloGold Ashanti's previous semi-annual dividend of $0.69. The ex-dividend date of this dividend is Friday, August 22nd. AngloGold Ashanti's dividend payout ratio is 85.11%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Roth Capital reiterated a "buy" rating on shares of AngloGold Ashanti in a research report on Friday, August 1st. Scotiabank reissued a "sector perform" rating and set a $55.00 target price on shares of AngloGold Ashanti in a research report on Monday, August 11th. JPMorgan Chase & Co. upped their target price on shares of AngloGold Ashanti from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note 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 analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.60.

About AngloGold Ashanti

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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