The Manufacturers Life Insurance Company Lowers Stock Holdings in AngloGold Ashanti PLC $AU

Key Points

• The Manufacturers Life Insurance Company cut its AngloGold Ashanti stake by 10.7% in the first quarter, selling 13,532 shares and retaining 113,154 shares valued at approximately $10.8 million. Institutional investors collectively own 36.09% of the company.
• AngloGold Ashanti reported quarterly EPS of $1.98, slightly below the $2.03 analyst consensus, while revenue of $3.10 billion also missed estimates. The stock opened at $81.61, with a market capitalization of $41.2 billion.
• The company declared a quarterly dividend of $0.72 per share, representing a 3.5% annualized yield. Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $110.50 despite several recent target-price cuts and rating downgrades.

The Manufacturers Life Insurance Company reduced its holdings in AngloGold Ashanti PLC (NYSE:AU - Free Report) by 10.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,154 shares of the mining company's stock after selling 13,532 shares during the quarter. The Manufacturers Life Insurance Company's holdings in AngloGold Ashanti were worth $10,841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Quantinno Capital Management LP boosted its stake in AngloGold Ashanti by 15.2% in the 1st quarter. Quantinno Capital Management LP now owns 118,689 shares of the mining company's stock worth $11,556,000 after buying an additional 15,697 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of AngloGold Ashanti by 37.2% during the 1st quarter. Lazard Asset Management LLC now owns 821,927 shares of the mining company's stock valued at $80,008,000 after acquiring an additional 223,062 shares during the last quarter. Gateway Wealth Partners LLC acquired a new position in shares of AngloGold Ashanti during the 1st quarter valued at about $246,000. Waverly Advisors LLC purchased a new position in shares of AngloGold Ashanti during the 1st quarter worth about $4,271,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of AngloGold Ashanti during the 1st quarter worth about $11,060,000. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

AngloGold Ashanti Stock Performance

NYSE AU opened at $81.61 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.71 and a quick ratio of 2.11. AngloGold Ashanti PLC has a 1-year low of $50.20 and a 1-year high of $129.14. The firm has a market capitalization of $41.20 billion, a P/E ratio of 10.94 and a beta of 0.66. The business's 50-day simple moving average is $84.12 and its 200-day simple moving average is $96.04.

AngloGold Ashanti (NYSE:AU - Get Free Report) last posted its earnings results on Friday, July 31st. The mining company reported $1.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($0.05). AngloGold Ashanti had a return on equity of 39.54% and a net margin of 32.19%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. Equities analysts predict that AngloGold Ashanti PLC will post 8.23 EPS for the current year.

AngloGold Ashanti Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, August 21st. AngloGold Ashanti's payout ratio is currently 62.20%.

Analyst Upgrades and Downgrades

AU has been the topic of several research analyst reports. Royal Bank Of Canada decreased their target price on shares of AngloGold Ashanti from $114.00 to $111.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Wall Street Zen downgraded shares of AngloGold Ashanti from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Citigroup decreased their price target on shares of AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. JPMorgan Chase & Co. lowered 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. Finally, Zacks Research downgraded AngloGold Ashanti from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 15th. 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 assigned a Sell rating to the stock. Based on data from 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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