Ninety One UK Ltd Trims Stock Position in AngloGold Ashanti PLC $AU

Key Points

• Ninety One UK Ltd reduced its stake in AngloGold Ashanti PLC by 11.6%, owning 2,067,344 shares worth approximately $94.2 million after selling 270,329 shares in the second quarter.
• AngloGold Ashanti announced an increase in its semi-annual dividend to $0.80 per share, resulting in a significant dividend yield of 610.0%.
• The mining company reported a quarterly earnings miss with an EPS of $1.25, falling short of analysts' estimates of $1.31, while revenue surpassed expectations at $2.45 billion.

Ninety One UK Ltd lessened its holdings in AngloGold Ashanti PLC (NYSE:AU - Free Report) by 11.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,067,344 shares of the mining company's stock after selling 270,329 shares during the period. Ninety One UK Ltd owned 0.49% of AngloGold Ashanti worth $94,209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its stake in shares of AngloGold Ashanti by 2.1% during the first quarter. Assenagon Asset Management S.A. now owns 11,353 shares of the mining company's stock valued at $424,000 after buying an additional 235 shares during the period. Forefront Wealth Management Inc. lifted its stake in shares of AngloGold Ashanti by 1.7% during the first quarter. Forefront Wealth Management Inc. now owns 38,529 shares of the mining company's stock valued at $1,430,000 after buying an additional 638 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of AngloGold Ashanti during the second quarter valued at approximately $30,000. Global Trust Asset Management LLC purchased a new position in shares of AngloGold Ashanti during the first quarter valued at approximately $30,000. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of AngloGold Ashanti during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 36.09% of the company's stock.

AngloGold Ashanti Price Performance

AU stock opened at $70.39 on Wednesday. The stock has a 50-day moving average price of $58.49 and a two-hundred day moving average price of $48.25. AngloGold Ashanti PLC has a 12-month low of $22.45 and a 12-month high of $71.41. The company has a current ratio of 2.99, a quick ratio of 2.22 and a debt-to-equity ratio of 0.22. The company has a market cap of $29.54 billion, a PE ratio of 18.72 and a beta of 0.54.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.31 by ($0.06). The firm had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.29 billion. AngloGold Ashanti had a net margin of 23.60% and a return on equity of 22.54%. As a group, research analysts predict that AngloGold Ashanti PLC will post 3.83 EPS for the current year.

AngloGold Ashanti Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a dividend of $0.80 per share. This represents a dividend yield of 610.0%. The ex-dividend date was Friday, August 22nd. This is a positive change from AngloGold Ashanti's previous semi-annual dividend of $0.69. AngloGold Ashanti's dividend payout ratio (DPR) is presently 85.11%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AU. JPMorgan Chase & Co. upped their price objective 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. Roth Capital reaffirmed a "buy" rating on shares of AngloGold Ashanti in a research note on Friday, August 1st. Zacks Research raised shares of AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research note on Monday. Scotiabank reaffirmed a "sector perform" rating and set a $55.00 price objective on shares of AngloGold Ashanti in a research note on Monday, August 11th. Finally, Wall Street Zen raised shares of AngloGold Ashanti from a "hold" rating to a "buy" rating in a research note on Friday, September 26th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $49.60.

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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