Ninepoint Partners LP Takes Position in AngloGold Ashanti PLC $AU

Key Points

• Ninepoint Partners purchased 74,550 AngloGold Ashanti shares during the second quarter, valued at approximately $6.03 million. Institutional investors collectively own 36.09% of the company.
• Analysts remain broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $110.50, despite several firms lowering their targets.
• AngloGold Ashanti reported quarterly EPS of $1.98 and revenue of $3.10 billion, both below consensus estimates. The company declared a quarterly dividend of $0.72 per share, representing a 2.5% annualized yield.

Ninepoint Partners LP purchased a new position in AngloGold Ashanti PLC (NYSE:AU - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,550 shares of the mining company's stock, valued at approximately $6,030,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in AngloGold Ashanti during the first quarter worth about $321,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AngloGold Ashanti by 30.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the mining company's stock valued at $47,000 after acquiring an additional 238 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of AngloGold Ashanti by 106.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,367 shares of the mining company's stock valued at $153,000 after acquiring an additional 1,734 shares during the last quarter. First Trust Advisors LP boosted its position in shares of AngloGold Ashanti by 88.4% during the 2nd quarter. First Trust Advisors LP now owns 136,543 shares of the mining company's stock valued at $6,200,000 after acquiring an additional 64,066 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in shares of AngloGold Ashanti during the second quarter worth about $1,740,000. Hedge funds and other institutional investors own 36.09% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of AngloGold Ashanti from $155.00 to $134.00 and set an "overweight" rating on the stock in a research report on Thursday, July 16th. Scotiabank cut their price target on shares of AngloGold Ashanti from $134.00 to $128.00 and set a "sector outperform" rating for the company in a research note on Tuesday, July 14th. Weiss Ratings lowered shares of AngloGold Ashanti from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 3rd. Roth Capital lowered their price objective on shares of AngloGold Ashanti from $121.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Finally, Citigroup dropped their price objective on shares of AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $110.50.

AngloGold Ashanti Stock Performance

NYSE:AU opened at $115.50 on Friday. The business has a 50 day moving average of $86.02 and a 200 day moving average of $95.43. The company has a market capitalization of $58.31 billion, a price-to-earnings ratio of 15.48 and a beta of 0.66. AngloGold Ashanti PLC has a 1-year low of $52.26 and a 1-year high of $129.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.71 and a quick ratio of 2.11.

AngloGold Ashanti (NYSE:AU - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 EPS for the quarter, missing analysts' consensus estimates of $2.03 by ($0.05). The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.20 billion. AngloGold Ashanti had a net margin of 32.19% and a return on equity of 39.54%. On average, sell-side analysts predict that AngloGold Ashanti PLC will post 8.19 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $2.88 annualized dividend and a dividend yield of 2.5%. AngloGold Ashanti's dividend payout ratio (DPR) is currently 62.20%.

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.

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