Steel Grove Capital Advisors LLC Acquires 24,616 Shares of AngloGold Ashanti PLC $AU

Key Points

• Steel Grove Capital Advisors acquired 24,616 AngloGold Ashanti shares worth approximately $2.3 million during the third quarter. Institutional investors and hedge funds collectively own 36.09% of the company.
• AngloGold Ashanti shares fell 2.2% to $91.38, while the company’s latest quarterly results missed analyst expectations for both earnings and revenue.
• The company reduced its quarterly dividend to $0.72 per share from $1.16, resulting in an annualized dividend of $2.88 and a 3.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $122.83.

Steel Grove Capital Advisors LLC bought a new stake in AngloGold Ashanti PLC (NYSE:AU - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 24,616 shares of the mining company's stock, valued at approximately $2,313,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AU. Sax Wealth Advisors LLC purchased a new stake in AngloGold Ashanti during the 3rd quarter worth $218,000. NorthCrest Asset Manangement LLC raised its position in AngloGold Ashanti by 12.8% in the third quarter. NorthCrest Asset Manangement LLC now owns 142,794 shares of the mining company's stock valued at $12,963,000 after purchasing an additional 16,232 shares during the period. Perpetual Ltd raised its position in AngloGold Ashanti by 71.1% in the third quarter. Perpetual Ltd now owns 122,179 shares of the mining company's stock valued at $11,479,000 after purchasing an additional 50,752 shares during the period. Athena Wealth Management LLC acquired a new position in shares of AngloGold Ashanti during the third quarter worth about $290,000. Finally, Cadent Capital Advisors LLC acquired a new position in shares of AngloGold Ashanti during the third quarter worth about $205,000. Institutional investors and hedge funds own 36.09% of the company's stock.

AngloGold Ashanti Stock Down 2.2%

AngloGold Ashanti stock traded down $2.06 during midday trading on Tuesday, hitting $91.38. 1,165,202 shares of the stock were exchanged, compared to its average volume of 2,874,539. AngloGold Ashanti PLC has a 1 year low of $62.55 and a 1 year high of $129.14. The firm has a market cap of $46.14 billion, a P/E ratio of 12.25 and a beta of 0.73. 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 company has a 50 day moving average price of $101.85 and a two-hundred day moving average price of $94.75.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The mining company reported $1.98 earnings per share for the quarter, missing analysts' consensus estimates of $2.03 by ($0.05). The firm had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.20 billion. AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. On average, sell-side analysts predict that AngloGold Ashanti PLC will post 8.16 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. This is a negative change from AngloGold Ashanti's previous quarterly dividend of $1.16. The ex-dividend date was Friday, August 21st. AngloGold Ashanti's payout ratio is presently 6.70%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AU shares. Weiss Ratings raised AngloGold Ashanti from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. BMO Capital Markets downgraded AngloGold Ashanti from an "outperform" rating to a "market perform" rating and set a $115.00 target price on the stock. in a report on Thursday, September 10th. Scotiabank reduced their price target on AngloGold Ashanti from $134.00 to $128.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, July 14th. Royal Bank Of Canada upped their price target on AngloGold Ashanti from $111.00 to $119.00 and gave the stock an "outperform" rating in a report on Wednesday, September 16th. Finally, Citigroup lowered their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.83.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc NYSE: AU is a global gold mining company engaged in the exploration, development, and production of gold. Its activities include operating mines, processing ore into doré and bullion, and developing mineral resources and reserves. The company also conducts exploration and evaluation activities in areas with potential for additional gold discoveries.

The company has mining operations and projects across several regions, including Africa, Australia, the Americas, and other international markets.

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