Forefront Wealth Management Inc. Raises Stock Holdings in AngloGold Ashanti PLC $AU

Key Points

• Forefront Wealth Management Inc. increased its stake in AngloGold Ashanti PLC by 46.8%, owning 56,545 shares of the company, which are valued at approximately $2.58 million.
• AngloGold Ashanti recently increased its semi-annual dividend to $0.80 per share, up from $0.69, resulting in a yield of 610.0%.
• Brokerage ratings for AngloGold Ashanti vary, with Roth Capital maintaining a "buy" rating while Zacks Research downgraded the stock to a "strong sell"; the average target price is $49.60.

Forefront Wealth Management Inc. boosted its position in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 46.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,545 shares of the mining company's stock after buying an additional 18,016 shares during the quarter. AngloGold Ashanti makes up about 2.1% of Forefront Wealth Management Inc.'s holdings, making the stock its 18th biggest holding. Forefront Wealth Management Inc.'s holdings in AngloGold Ashanti were worth $2,577,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC bought a new position in shares of AngloGold Ashanti during the first quarter valued at about $30,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in AngloGold Ashanti during the 1st quarter valued at about $30,000. Financial Management Professionals Inc. purchased a new stake in AngloGold Ashanti in the 2nd quarter worth approximately $30,000. SVB Wealth LLC purchased a new stake in AngloGold Ashanti in the 1st quarter worth approximately $32,000. Finally, Farther Finance Advisors LLC grew its position in shares of AngloGold Ashanti by 579.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,664 shares of the mining company's stock worth $76,000 after buying an additional 1,419 shares during the last quarter. Institutional investors own 36.09% of the company's stock.

Wall Street Analyst Weigh In

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

AngloGold Ashanti Trading Up 3.8%

Shares of NYSE AU opened at $68.27 on Monday. AngloGold Ashanti PLC has a 1 year low of $22.45 and a 1 year high of $69.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.22. The firm has a 50-day moving average of $57.74 and a 200 day moving average of $47.83. The stock has a market cap of $28.65 billion, a P/E ratio of 18.16 and a beta of 0.53.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The mining company reported $1.25 earnings per share 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 analysts' expectations of $2.29 billion. As a group, sell-side 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. Investors of record on Friday, August 22nd were given a dividend of $0.80 per share. This is a boost from AngloGold Ashanti's previous semi-annual dividend of $0.69. The ex-dividend date of this dividend was Friday, August 22nd. This represents a yield of 610.0%. AngloGold Ashanti's dividend payout ratio is 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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