Eleva Capital SAS Buys New Stake in AngloGold Ashanti PLC $AU

Key Points

• Eleva Capital SAS acquired 89,278 AngloGold Ashanti shares worth approximately $8.4 million, making the miner its seventh-largest holding and representing about 7% of its portfolio.
• Other institutional investors also increased or initiated positions, with hedge funds and institutions collectively owning 36.09% of AngloGold Ashanti.
• AngloGold Ashanti’s shares traded at $93.99, while the company’s quarterly earnings and revenue slightly missed estimates. It also reduced its quarterly dividend to $0.72 from $1.16, though analysts maintained a “Moderate Buy” consensus with a $113.14 price target.

Eleva Capital SAS bought a new position in AngloGold Ashanti PLC (NYSE:AU - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 89,278 shares of the mining company's stock, valued at approximately $8,388,000. AngloGold Ashanti accounts for approximately 7.0% of Eleva Capital SAS's investment portfolio, making the stock its 7th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in shares of AngloGold Ashanti by 240.3% in the 3rd quarter. Versant Capital Management Inc now owns 1,882 shares of the mining company's stock worth $177,000 after buying an additional 1,329 shares during the period. Engineers Gate Manager LP raised its holdings in AngloGold Ashanti by 103.0% in the 2nd quarter. Engineers Gate Manager LP now owns 78,521 shares of the mining company's stock worth $6,352,000 after purchasing an additional 39,832 shares during the period. Integrated Wealth Concepts LLC bought a new position in AngloGold Ashanti in the 2nd quarter worth $187,000. RFG Advisory LLC grew its holdings in AngloGold Ashanti by 4.2% during the 2nd quarter. RFG Advisory LLC now owns 13,360 shares of the mining company's stock valued at $1,081,000 after buying an additional 543 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of AngloGold Ashanti by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 11,504 shares of the mining company's stock worth $931,000 after buying an additional 2,507 shares during the last quarter. 36.09% of the stock is owned by hedge funds and other institutional investors.

AngloGold Ashanti Price Performance

Shares of AU stock traded down $0.49 during trading hours on Tuesday, reaching $93.99. The company had a trading volume of 910,439 shares, compared to its average volume of 2,898,436. The stock has a fifty day moving average of $100.61 and a 200-day moving average of $94.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.07 and a current ratio of 2.71. The company has a market capitalization of $47.45 billion, a price-to-earnings ratio of 12.59 and a beta of 0.73. AngloGold Ashanti PLC has a 12-month low of $62.55 and a 12-month high of $129.14.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($0.05). AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%.The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. On average, equities analysts anticipate that AngloGold Ashanti PLC will post 8.16 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were given a $0.72 dividend. The ex-dividend date of this dividend was Friday, August 21st. This is a negative change from AngloGold Ashanti's previous quarterly dividend of $1.16. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. AngloGold Ashanti's dividend payout ratio is presently 6.70%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AU shares. Roth Capital decreased their price objective on shares of AngloGold Ashanti from $121.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, June 24th. Scotiabank cut their price objective on shares of AngloGold Ashanti from $134.00 to $128.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. BMO Capital Markets lowered shares of AngloGold Ashanti from an "outperform" rating to a "market perform" rating and set a $115.00 price objective on the stock. in a research note on Thursday, September 10th. Citigroup dropped their price objective on shares of AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded AngloGold Ashanti from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.14.

About AngloGold Ashanti

AngloGold Ashanti plc NYSE: AU is a global gold mining company engaged in the exploration, development, and production of gold. Its activities include operating mines, processing ore into doré and bullion, and developing mineral resources and reserves. The company also conducts exploration and evaluation activities in areas with potential for additional gold discoveries.

The company has mining operations and projects across several regions, including Africa, Australia, the Americas, and other international markets.

Want to see what other hedge funds are holding AU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AngloGold Ashanti PLC (NYSE:AU - Free Report).

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.