Lazard Asset Management LLC Acquires 223,062 Shares of AngloGold Ashanti PLC $AU

Key Points

• Lazard Asset Management increased its AngloGold Ashanti stake by 37.2% in the first quarter, adding 223,062 shares for a total holding of 821,927 shares valued at approximately $80 million. Institutional investors collectively own 36.09% of the company.
• AngloGold Ashanti reported quarterly EPS of $2.52, exceeding analyst expectations of $2.27, while revenue reached $3.24 billion. The company also raised its quarterly dividend to $1.16, implying a 5.8% annualized yield.
• Analysts maintain a generally positive view, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $110.50, despite several recent target reductions and shares opening at $80.42.

Lazard Asset Management LLC grew its holdings in AngloGold Ashanti PLC (NYSE:AU - Free Report) by 37.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 821,927 shares of the mining company's stock after purchasing an additional 223,062 shares during the period. Lazard Asset Management LLC owned about 0.16% of AngloGold Ashanti worth $80,008,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AU. Gateway Wealth Partners LLC purchased a new stake in shares of AngloGold Ashanti during the first quarter valued at $246,000. Waverly Advisors LLC purchased a new position in AngloGold Ashanti in the 1st quarter worth about $4,271,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in AngloGold Ashanti in the 1st quarter worth about $11,060,000. Renaissance Technologies LLC purchased a new position in AngloGold Ashanti in the 1st quarter worth about $54,152,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in AngloGold Ashanti by 1.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,386,503 shares of the mining company's stock valued at $620,874,000 after buying an additional 98,250 shares in the last quarter. 36.09% of the stock is currently owned by institutional investors.

AngloGold Ashanti Stock Performance

Shares of AngloGold Ashanti stock opened at $80.42 on Tuesday. The company has a current ratio of 2.71, a quick ratio of 2.11 and a debt-to-equity ratio of 0.19. The stock's fifty day moving average price is $85.23 and its 200-day moving average price is $96.54. The firm has a market cap of $40.60 billion, a P/E ratio of 11.79 and a beta of 0.65. AngloGold Ashanti PLC has a 12 month low of $45.36 and a 12 month high of $129.14.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The mining company reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.25. AngloGold Ashanti had a net margin of 31.11% and a return on equity of 36.41%. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.26 billion. On average, equities research analysts expect that AngloGold Ashanti PLC will post 8.23 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were issued a $1.16 dividend. The ex-dividend date was Friday, May 29th. This represents a $4.64 annualized dividend and a dividend yield of 5.8%. This is an increase from AngloGold Ashanti's previous quarterly dividend of $0.17. AngloGold Ashanti's dividend payout ratio (DPR) is presently 68.04%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of AngloGold Ashanti from $155.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. Wall Street Zen lowered shares of AngloGold Ashanti from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Roth Capital decreased their price target 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. Citigroup lowered their price target on AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. Finally, Weiss Ratings lowered AngloGold Ashanti from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $110.50.

AngloGold Ashanti Profile

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.

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.