Quantedge Capital Pte Ltd Invests $2.02 Million in AngloGold Ashanti PLC $AU

Key Points

• Quantedge Capital opened a new position in AngloGold Ashanti during the first quarter, buying 20,700 shares worth about $2.02 million. The stake represents roughly 1.1% of Quantedge’s portfolio and is its 20th-largest holding.
• AngloGold Ashanti reported better-than-expected quarterly earnings of $2.52 per share, topping analyst estimates of $2.27. Revenue came in at $3.24 billion, slightly below expectations, while analysts still forecast full-year EPS of 8.79.
• The company raised its quarterly dividend to $1.16 per share from $0.17 previously, implying an annualized yield of 5.9%. Separately, Wall Street’s consensus view remains Moderate Buy, though several firms trimmed price targets recently.

Quantedge Capital Pte Ltd bought a new position in AngloGold Ashanti PLC (NYSE:AU - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,700 shares of the mining company's stock, valued at approximately $2,015,000. AngloGold Ashanti accounts for approximately 1.1% of Quantedge Capital Pte Ltd's holdings, making the stock its 20th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ascentis Independent Advisors acquired a new stake in AngloGold Ashanti during the first quarter worth about $26,000. Zions Bancorporation National Association UT purchased a new position in shares of AngloGold Ashanti in the 4th quarter worth about $31,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of AngloGold Ashanti in the 4th quarter valued at about $34,000. Mcguire Capital Advisors Inc. acquired a new position in shares of AngloGold Ashanti in the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC grew its holdings in shares of AngloGold Ashanti by 454.1% during the 4th quarter. Global Retirement Partners LLC now owns 471 shares of the mining company's stock worth $40,000 after purchasing an additional 386 shares during the period. Institutional investors and hedge funds own 36.09% of the company's stock.

AngloGold Ashanti Stock Performance

NYSE:AU opened at $78.43 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.71 and a quick ratio of 2.11. The firm has a 50-day moving average of $86.63 and a two-hundred day moving average of $96.77. The stock has a market cap of $39.60 billion, a P/E ratio of 11.50 and a beta of 0.65. AngloGold Ashanti PLC has a 1-year low of $45.36 and a 1-year high of $129.14.

AngloGold Ashanti (NYSE:AU - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The mining company reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.25. AngloGold Ashanti had a return on equity of 36.41% and a net margin of 31.11%.The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.26 billion. On average, research analysts expect that AngloGold Ashanti PLC will post 8.79 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, May 29th. This is an increase from AngloGold Ashanti's previous quarterly dividend of $0.17. This represents a $4.64 dividend on an annualized basis and a dividend yield of 5.9%. AngloGold Ashanti's dividend payout ratio is 68.04%.

Wall Street Analyst Weigh In

AU has been the subject of a number of research analyst reports. Citigroup dropped their target price on shares of AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating for the company in a research report on Wednesday, July 15th. Weiss Ratings cut shares of AngloGold Ashanti from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, June 1st. JPMorgan Chase & Co. decreased 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 note on Thursday, July 16th. Royal Bank Of Canada dropped their price objective on shares of AngloGold Ashanti from $114.00 to $111.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of AngloGold Ashanti from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.50.

AngloGold Ashanti Company 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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