Nisa Investment Advisors LLC Purchases 62,093 Shares of AngloGold Ashanti PLC $AU

Key Points

• Nisa Investment Advisors increased its AngloGold Ashanti position by 376% in the third quarter, acquiring 62,093 additional shares and bringing its holdings to 78,607 shares valued at approximately $7.4 million.
• AngloGold Ashanti shares were trading down 7% at $85.05, while the company’s latest quarterly results fell slightly short of analyst expectations for both earnings and revenue.
• The company cut its quarterly dividend from $1.16 to $0.72, resulting in an annualized dividend of $2.88 and a 3.4% yield; analysts nevertheless maintained an overall “Buy” rating with an average price target of $118.06.

Nisa Investment Advisors LLC grew its position in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 376.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,607 shares of the mining company's stock after acquiring an additional 62,093 shares during the quarter. Nisa Investment Advisors LLC's holdings in AngloGold Ashanti were worth $7,385,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ascentis Independent Advisors acquired a new position in shares of AngloGold Ashanti in the 1st quarter valued at about $26,000. Ancora Advisors LLC acquired a new stake in AngloGold Ashanti during the 2nd quarter worth approximately $30,000. Alpine Bank Wealth Management acquired a new stake in AngloGold Ashanti during the 3rd quarter worth approximately $31,000. Ameritas Advisory Services LLC acquired a new stake in AngloGold Ashanti during the 2nd quarter worth approximately $51,000. Finally, KBC Group NV purchased a new position in AngloGold Ashanti in the first quarter valued at approximately $55,000. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

AngloGold Ashanti Trading Down 7.0%

Shares of AU opened at $85.05 on Friday. AngloGold Ashanti PLC has a 12 month low of $62.55 and a 12 month high of $129.14. The stock's 50-day moving average is $101.47 and its two-hundred day moving average is $94.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.07. The stock has a market cap of $42.94 billion, a PE ratio of 11.85 and a beta of 0.73.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($0.05). The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.20 billion. AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. Equities analysts forecast that AngloGold Ashanti PLC will post 8.18 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were issued a $0.72 dividend. The ex-dividend date was Friday, August 21st. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. This is a drop from AngloGold Ashanti's previous quarterly dividend of $1.16. AngloGold Ashanti's dividend payout ratio (DPR) is currently 6.70%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Freedom Broker lifted their price target on shares of AngloGold Ashanti from $107.00 to $111.50 and gave the company a "buy" rating in a research report on Thursday. The Goldman Sachs Group initiated coverage on shares of AngloGold Ashanti in a research note on Thursday, October 15th. They set a "buy" rating and a $104.00 price objective for the company. Freedom Capital raised shares of AngloGold Ashanti to a "strong-buy" rating in a research report on Friday, June 26th. Royal Bank Of Canada raised their target price on shares of AngloGold Ashanti from $111.00 to $119.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Finally, Zacks Research raised shares of AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research note on Friday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, AngloGold Ashanti currently has an average rating of "Buy" and an average target price of $118.06.

About AngloGold Ashanti

AngloGold Ashanti plc is a global gold mining company engaged in the exploration, development, and operation of gold mines. Its principal product is refined gold, and the company also produces related byproducts at certain operations. In addition to operating mines, AngloGold Ashanti maintains exploration and development projects intended to expand and sustain its production portfolio.

The company has a geographically diversified portfolio spanning Africa, Australia, and the Americas. Its operations and projects have included assets in Ghana, Tanzania, Guinea, Côte d'Ivoire, the Democratic Republic of the Congo, Australia, Brazil, and Argentina.

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