Fox Run Management L.L.C. Increases Stock Position in AngloGold Ashanti PLC (NYSE:AU)

Key Points

• Fox Run Management L.L.C. increased its stake in AngloGold Ashanti PLC by 191.5%, acquiring an additional 30,902 shares valued at approximately $1.75 million.
• AngloGold Ashanti declared a semi-annual dividend of $0.80, a notable increase from the previous dividend of $0.69, which represents a yield of 610.0%.
• The company reported earnings of $1.25 per share for the last quarter, falling short of analyst expectations, while revenue of $2.45 billion exceeded forecasts.

Fox Run Management L.L.C. raised its stake in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 191.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,038 shares of the mining company's stock after purchasing an additional 30,902 shares during the period. Fox Run Management L.L.C.'s holdings in AngloGold Ashanti were worth $1,746,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AU. Hara Capital LLC acquired a new stake in AngloGold Ashanti during the 4th quarter worth about $29,000. Global Trust Asset Management LLC acquired a new stake in AngloGold Ashanti during the first quarter worth approximately $30,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in AngloGold Ashanti in the first quarter worth approximately $30,000. Atlas Capital Advisors Inc. bought a new stake in AngloGold Ashanti in the first quarter worth approximately $77,000. Finally, IFP Advisors Inc lifted its stake in AngloGold Ashanti by 769.5% in the first quarter. IFP Advisors Inc now owns 2,939 shares of the mining company's stock valued at $109,000 after buying an additional 2,601 shares during the period. 36.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Scotiabank reaffirmed a "sector perform" rating and set a $55.00 price objective on shares of AngloGold Ashanti in a research report on Monday, August 11th. Roth Capital reissued a "buy" rating on shares of AngloGold Ashanti in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their price target 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. Finally, Wall Street Zen lowered shares of AngloGold Ashanti from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $49.60.

AngloGold Ashanti Stock Down 0.7%

AU traded down $0.37 during trading on Friday, hitting $54.34. 2,522,667 shares of the company's stock were exchanged, compared to its average volume of 2,782,192. AngloGold Ashanti PLC has a fifty-two week low of $22.45 and a fifty-two week high of $59.19. The stock has a market cap of $22.81 billion, a P/E ratio of 14.45 and a beta of 0.46. The business's 50 day moving average is $49.42 and its two-hundred day moving average is $41.57. The company has a quick ratio of 1.57, a current ratio of 2.34 and a debt-to-equity ratio of 0.22.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its earnings results on Friday, August 1st. The mining company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.06). AngloGold Ashanti had a return on equity of 24.25% and a net margin of 23.60%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.29 billion. As a group, equities analysts expect that AngloGold Ashanti PLC will post 3.83 earnings per share 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 a boost 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 (DPR) is currently 13.30%.

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.