Ruffer LLP Cuts Position in AngloGold Ashanti PLC $AU

Key Points

• Ruffer LLP reduced its stake by 45.7% in AngloGold Ashanti during Q4, selling 269,966 shares and ending the period with 320,997 shares worth about $27.42 million (roughly 1.2% of Ruffer’s portfolio and its 27th-largest holding).
• AngloGold reported Q results of $1.90 EPS (in line with estimates) and $3.07 billion in revenue (above expectations), but cut its quarterly dividend to $0.173 ($0.69 annualized) yielding 0.7% and implying a payout ratio of 133.3%.
• The stock was trading down about 5.6%, opening at $100.57, with a market cap of $50.78 billion and a P/E of 19.38, while analysts maintain a consensus rating of "Moderate Buy" and an average price target of $112.20.

Ruffer LLP lessened its holdings in AngloGold Ashanti PLC (NYSE:AU - Free Report) by 45.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 320,997 shares of the mining company's stock after selling 269,966 shares during the period. AngloGold Ashanti makes up approximately 1.2% of Ruffer LLP's portfolio, making the stock its 27th biggest holding. Ruffer LLP owned 0.08% of AngloGold Ashanti worth $27,417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. M&T Bank Corp boosted its stake in shares of AngloGold Ashanti by 98.8% in the 4th quarter. M&T Bank Corp now owns 8,995 shares of the mining company's stock worth $724,000 after buying an additional 4,470 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AngloGold Ashanti by 3.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 279,698 shares of the mining company's stock worth $23,853,000 after buying an additional 8,091 shares during the last quarter. Global Financial Private Client LLC purchased a new position in shares of AngloGold Ashanti in the 4th quarter worth approximately $383,000. Ninety One SA Pty Ltd purchased a new position in shares of AngloGold Ashanti in the 4th quarter worth approximately $1,380,472,000. Finally, Merit Financial Group LLC lifted its stake in AngloGold Ashanti by 25.7% in the fourth quarter. Merit Financial Group LLC now owns 6,810 shares of the mining company's stock valued at $581,000 after purchasing an additional 1,391 shares during the last quarter. Hedge funds and other institutional investors own 36.09% of the company's stock.

AngloGold Ashanti Trading Down 5.6%

Shares of AU stock opened at $100.57 on Wednesday. The company's fifty day simple moving average is $104.88 and its two-hundred day simple moving average is $92.11. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.87 and a quick ratio of 2.20. AngloGold Ashanti PLC has a 1 year low of $38.61 and a 1 year high of $129.14. The stock has a market capitalization of $50.78 billion, a price-to-earnings ratio of 19.38 and a beta of 0.66.

AngloGold Ashanti (NYSE:AU - Get Free Report) last issued its earnings results on Friday, February 20th. The mining company reported $1.90 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.90. AngloGold Ashanti had a net margin of 26.65% and a return on equity of 29.11%. The business had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $2.99 billion. As a group, analysts anticipate that AngloGold Ashanti PLC will post 8.78 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a dividend of $0.173 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.69 dividend on an annualized basis and a yield of 0.7%. AngloGold Ashanti's payout ratio is presently 133.33%.

Analyst Upgrades and Downgrades

AU has been the topic of several research analyst reports. Wall Street Zen downgraded AngloGold Ashanti from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Weiss Ratings upgraded AngloGold Ashanti from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 13th. Zacks Research downgraded AngloGold Ashanti from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 23rd. Scotiabank dropped their price objective on AngloGold Ashanti from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, March 20th. Finally, Citigroup upped their price objective on AngloGold Ashanti from $105.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, AngloGold Ashanti has a consensus rating of "Moderate Buy" and an average price target of $112.20.

About AngloGold Ashanti

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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