Drive Wealth Management LLC Buys New Shares in AngloGold Ashanti PLC $AU

Key Points

• Drive Wealth Management LLC acquired 7,834 shares of AngloGold Ashanti PLC, worth approximately $357,000, during the 2nd quarter according to their SEC filing.
• AngloGold Ashanti recently declared a semi-annual dividend of $0.80, which represents a significant yield and an increase from the previous dividend of $0.69.
• Analysts have mixed opinions on the stock, with three giving it a Buy rating, three a Hold rating, and one a Sell rating, coupled with a consensus target price of $58.00.

Drive Wealth Management LLC purchased a new position in AngloGold Ashanti PLC (NYSE:AU - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,834 shares of the mining company's stock, valued at approximately $357,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of AngloGold Ashanti in the first quarter valued at about $30,000. Financial Management Professionals Inc. acquired a new position in AngloGold Ashanti in the 2nd quarter valued at approximately $30,000. SVB Wealth LLC bought a new stake in shares of AngloGold Ashanti in the 1st quarter worth approximately $32,000. Farther Finance Advisors LLC grew its holdings in shares of AngloGold Ashanti by 579.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,664 shares of the mining company's stock worth $76,000 after purchasing an additional 1,419 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of AngloGold Ashanti during the first quarter valued at approximately $77,000. Institutional investors own 36.09% of the company's stock.

AngloGold Ashanti Trading Up 1.8%

AU stock opened at $75.22 on Tuesday. The business has a fifty day moving average price of $64.60 and a 200 day moving average price of $52.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.22. AngloGold Ashanti PLC has a fifty-two week low of $22.45 and a fifty-two week high of $79.94. The stock has a market capitalization of $31.57 billion, a price-to-earnings ratio of 20.00 and a beta of 0.53.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The mining company reported $1.25 EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($0.06). AngloGold Ashanti had a return on equity of 22.54% and a net margin of 23.60%.The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.29 billion. Analysts expect 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 was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given a $0.80 dividend. This represents a yield of 610.0%. The ex-dividend date was Friday, August 22nd. This is a boost from AngloGold Ashanti's previous semi-annual dividend of $0.69. AngloGold Ashanti's dividend payout ratio is 85.11%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of AngloGold Ashanti in a research report on Wednesday, October 8th. HSBC reaffirmed a "reduce" rating and set a $55.00 price objective on shares of AngloGold Ashanti in a report on Thursday, October 9th. JPMorgan Chase & Co. upped their target price on shares of AngloGold Ashanti from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Scotiabank reissued a "sector perform" rating and issued a $55.00 price target on shares of AngloGold Ashanti in a research report on Monday, August 11th. Finally, Zacks Research upgraded shares of AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $58.00.

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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