Sumitomo Mitsui Trust Group Inc. Sells 21,240 Shares of AngloGold Ashanti PLC $AU

Key Points

• Sumitomo Mitsui Trust Group Inc. sold 21,240 shares of AngloGold Ashanti, cutting its stake by 2.5% to 837,055 shares worth about $71.38 million; institutional investors now own roughly 36.09% of the company.
• AngloGold posted quarterly EPS of $1.90 (in line) and revenue of $3.07 billion (above estimates); analysts hold a consensus "Moderate Buy" with a $112.20 target, and the company recently reduced its quarterly dividend to $0.173 (annualized $0.69) with a 133% payout ratio.

Sumitomo Mitsui Trust Group Inc. lowered its stake in AngloGold Ashanti PLC (NYSE:AU - Free Report) by 2.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 837,055 shares of the mining company's stock after selling 21,240 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in AngloGold Ashanti were worth $71,384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AU. Empowered Funds LLC purchased a new stake in shares of AngloGold Ashanti in the first quarter worth $321,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of AngloGold Ashanti by 30.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the mining company's stock valued at $47,000 after acquiring an additional 238 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of AngloGold Ashanti by 106.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,367 shares of the mining company's stock worth $153,000 after purchasing an additional 1,734 shares during the last quarter. First Trust Advisors LP boosted its stake in AngloGold Ashanti by 88.4% in the 2nd quarter. First Trust Advisors LP now owns 136,543 shares of the mining company's stock worth $6,200,000 after purchasing an additional 64,066 shares in the last quarter. Finally, Bank of Nova Scotia bought a new position in AngloGold Ashanti in the 2nd quarter worth about $1,740,000. Institutional investors own 36.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Scotiabank reduced their price objective on shares of AngloGold Ashanti from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, March 20th. Roth Mkm reiterated a "buy" rating and issued a $122.00 target price on shares of AngloGold Ashanti in a research note on Friday, February 20th. Zacks Research cut shares of AngloGold Ashanti from a "strong-buy" rating to a "hold" rating in a report on Monday, February 23rd. Citigroup boosted their price objective on shares of AngloGold Ashanti from $105.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, January 20th. Finally, Weiss Ratings raised AngloGold Ashanti from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $112.20.

AngloGold Ashanti Price Performance

AU opened at $109.81 on Wednesday. The company's 50-day simple moving average is $104.76 and its two-hundred day simple moving average is $90.93. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.20 and a current ratio of 2.87. The stock has a market capitalization of $55.44 billion, a P/E ratio of 21.16 and a beta of 0.66. AngloGold Ashanti PLC has a 52-week low of $38.61 and a 52-week high of $129.14.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its quarterly earnings results on Friday, February 20th. The mining company reported $1.90 EPS for the quarter, hitting analysts' consensus estimates of $1.90. AngloGold Ashanti had a net margin of 26.65% and a return on equity of 29.11%. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.99 billion. As a group, analysts predict that AngloGold Ashanti PLC will post 3.83 EPS for the current year.

AngloGold Ashanti Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.173 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, March 13th. AngloGold Ashanti's payout ratio is 133.33%.

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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