Concurrent Investment Advisors LLC Invests $1.65 Million in AngloGold Ashanti PLC $AU

Key Points

• Concurrent Investment Advisors opened a new position in AngloGold Ashanti, buying 19,289 shares valued at approximately $1.65 million in the fourth quarter.
• AngloGold reported Q results with $1.90 EPS (in line) and $3.07B revenue (beat), but recently cut its dividend to an annualized $0.69 (0.8% yield) with a payout ratio of 133.33%.
• The stock trades around $90.41 (52-week range $38.61–$129.14) with a market cap of ~$45.7B and a PE of 17.4, while analysts hold a consensus "Moderate Buy" rating and a $112.20 target; institutional ownership is ~36.1%.

Concurrent Investment Advisors LLC bought a new position in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,289 shares of the mining company's stock, valued at approximately $1,645,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Impact Partnership Wealth LLC acquired a new stake in shares of AngloGold Ashanti during the third quarter worth $1,408,000. Commonwealth Equity Services LLC raised its stake in AngloGold Ashanti by 7.7% in the third quarter. Commonwealth Equity Services LLC now owns 259,363 shares of the mining company's stock valued at $18,241,000 after purchasing an additional 18,457 shares in the last quarter. Caprock Group LLC acquired a new position in AngloGold Ashanti in the third quarter valued at about $3,728,000. Stephens Inc. AR acquired a new position in AngloGold Ashanti in the third quarter valued at about $2,876,000. Finally, Legal & General Group Plc raised its stake in AngloGold Ashanti by 5.9% in the third quarter. Legal & General Group Plc now owns 5,136,739 shares of the mining company's stock valued at $361,310,000 after purchasing an additional 284,017 shares in the last quarter. Institutional investors and hedge funds own 36.09% of the company's stock.

AngloGold Ashanti Stock Down 3.8%

AU stock opened at $90.41 on Thursday. AngloGold Ashanti PLC has a 52 week low of $38.61 and a 52 week high of $129.14. The company has a quick ratio of 2.20, a current ratio of 2.87 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $103.40 and a 200 day simple moving average of $92.91. The company has a market cap of $45.65 billion, a PE ratio of 17.42 and a beta of 0.66.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its earnings results on Friday, February 20th. The mining company reported $1.90 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.90. AngloGold Ashanti had a return on equity of 29.11% and a net margin of 26.65%.The firm had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $2.99 billion. Sell-side analysts anticipate that AngloGold Ashanti PLC will post 8.79 EPS for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.173 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, March 13th. AngloGold Ashanti's payout ratio is currently 133.33%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AU shares. Zacks Research downgraded AngloGold Ashanti from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 23rd. Weiss Ratings raised AngloGold Ashanti from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 13th. Scotiabank dropped their price target on AngloGold Ashanti from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, March 20th. Wall Street Zen downgraded AngloGold Ashanti from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $122.00 price target on shares of AngloGold Ashanti in a research note on Friday, February 20th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $112.20.

About AngloGold Ashanti

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.