National Bank of Canada FI Decreases Position in AngloGold Ashanti PLC (NYSE:AU)

Key Points

• National Bank of Canada FI decreased its stake in AngloGold Ashanti PLC by 1.6%, reducing its holdings to 865,716 shares worth approximately $32.1 million.
• AngloGold Ashanti recently reported quarterly earnings of $1.25 per share, which fell short of analysts' expectations, while also having a revenue of $2.45 billion exceeding predictions.
• The company announced a semi-annual dividend of $0.80 per share, representing a yield increase from its previous $0.69 dividend, with a payout ratio of 13.30%.

National Bank of Canada FI trimmed its position in AngloGold Ashanti PLC (NYSE:AU - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 865,716 shares of the mining company's stock after selling 14,302 shares during the period. National Bank of Canada FI owned 0.21% of AngloGold Ashanti worth $32,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AU. Hara Capital LLC acquired a new position in shares of AngloGold Ashanti in the 4th quarter valued at $29,000. Global Trust Asset Management LLC purchased a new stake in AngloGold Ashanti in the first quarter valued at $30,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in AngloGold Ashanti in the first quarter valued at $30,000. IFP Advisors Inc boosted its holdings 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 purchasing an additional 2,601 shares during the last quarter. Finally, Optiver Holding B.V. purchased a new stake in AngloGold Ashanti in the fourth quarter valued at $115,000. 36.09% of the stock is owned by institutional investors and hedge funds.

AngloGold Ashanti Stock Performance

AU opened at $57.41 on Friday. The firm has a market capitalization of $24.10 billion, a PE ratio of 15.27 and a beta of 0.46. AngloGold Ashanti PLC has a twelve month low of $22.45 and a twelve month high of $59.19. The firm's 50-day moving average price is $48.50 and its 200 day moving average price is $40.61. The company has a current ratio of 2.34, a quick ratio of 1.57 and a debt-to-equity ratio of 0.22.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.29 billion. AngloGold Ashanti had a return on equity of 24.25% and a net margin of 23.60%. 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 company also recently announced a semi-annual dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.80 per share. This represents a 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 payout ratio is presently 13.30%.

Analyst Ratings Changes

AU has been the topic of several recent research reports. Roth Capital reaffirmed a "buy" rating on shares of AngloGold Ashanti in a report on Friday, August 1st. HSBC reaffirmed a "reduce" rating and issued a $35.00 price target on shares of AngloGold Ashanti in a report on Thursday, April 17th. Scotiabank upped their price target on shares of AngloGold Ashanti from $42.00 to $43.50 and gave the company a "sector perform" rating in a report on Monday, May 12th. JPMorgan Chase & Co. upped their price target on shares of AngloGold Ashanti from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen downgraded shares of AngloGold Ashanti from a "buy" rating to a "hold" rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, AngloGold Ashanti has a consensus rating of "Hold" and an average target price of $47.30.

About AngloGold Ashanti

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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