HighTower Advisors LLC Makes New Investment in AngloGold Ashanti PLC $AU

Key Points

• HighTower Advisors LLC has taken a new position in AngloGold Ashanti PLC, acquiring 66,993 shares valued at approximately $2.49 million during the first quarter.
• AngloGold Ashanti recently increased its semi-annual dividend from $0.69 to $0.80, representing a yield of 610.0% for shareholders.
• Despite a quarterly earnings miss of $1.25 EPS, AngloGold Ashanti reported a revenue of $2.45 billion, surpassing analyst estimates of $2.29 billion.

HighTower Advisors LLC purchased a new position in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 66,993 shares of the mining company's stock, valued at approximately $2,487,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hara Capital LLC bought a new stake in shares of AngloGold Ashanti in the 4th quarter valued at about $29,000. Global Trust Asset Management LLC bought a new stake in shares of AngloGold Ashanti in the 1st quarter valued at about $30,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of AngloGold Ashanti in the 1st quarter valued at about $30,000. Atlas Capital Advisors Inc. bought a new stake in shares of AngloGold Ashanti in the 1st quarter valued at about $77,000. Finally, IFP Advisors Inc lifted its stake in shares of AngloGold Ashanti by 769.5% in the 1st quarter. IFP Advisors Inc now owns 2,939 shares of the mining company's stock valued at $109,000 after acquiring an additional 2,601 shares during the last quarter. Institutional investors own 36.09% of the company's stock.

AngloGold Ashanti Stock Performance

Shares of NYSE AU traded down $0.43 during midday trading on Thursday, hitting $54.92. 1,022,754 shares of the stock traded hands, compared to its average volume of 3,090,234. The firm has a 50-day moving average of $50.44 and a two-hundred day moving average of $42.78. The firm has a market capitalization of $23.05 billion, a P/E ratio of 14.60 and a beta of 0.46. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.22 and a current ratio of 2.99. AngloGold Ashanti PLC has a one year low of $22.45 and a one year high of $59.19.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The mining company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.06). AngloGold Ashanti had a net margin of 23.60% and a return on equity of 22.54%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.29 billion. On average, equities analysts forecast that AngloGold Ashanti PLC will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a yield of 610.0%. This is an increase from AngloGold Ashanti's previous semi-annual dividend of $0.69. AngloGold Ashanti's payout ratio is 85.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AU. Roth Capital restated a "buy" rating on shares of AngloGold Ashanti in a report on Friday, August 1st. Scotiabank reiterated a "sector perform" rating and set a $55.00 target price on shares of AngloGold Ashanti in a report on Monday, August 11th. JPMorgan Chase & Co. upped their target price on AngloGold Ashanti from $58.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen downgraded AngloGold Ashanti from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $49.60.

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.