Trexquant Investment LP Reduces Stock Holdings in AngloGold Ashanti PLC $AU

Key Points

• Trexquant Investment LP reduced its holdings in AngloGold Ashanti by 86.4% during the first quarter, now owning 9,355 shares valued at approximately $347,000.
• AngloGold Ashanti has announced a semi-annual dividend of $0.80, an increase from its previous dividend of $0.69, reflecting a dividend yield of 610.0%.
• Despite a strong revenue of $2.45 billion, the company reported earnings per share of $1.25, which fell short of analysts' expectations of $1.31.

Trexquant Investment LP trimmed its holdings in shares of AngloGold Ashanti PLC (NYSE:AU - Free Report) by 86.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,355 shares of the mining company's stock after selling 59,626 shares during the period. Trexquant Investment LP's holdings in AngloGold Ashanti were worth $347,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Assenagon Asset Management S.A. grew its stake in shares of AngloGold Ashanti by 2.1% in the first quarter. Assenagon Asset Management S.A. now owns 11,353 shares of the mining company's stock worth $424,000 after acquiring an additional 235 shares during the period. Forefront Wealth Management Inc. increased its position in AngloGold Ashanti by 1.7% during the first quarter. Forefront Wealth Management Inc. now owns 38,529 shares of the mining company's stock valued at $1,430,000 after acquiring an additional 638 shares during the last quarter. Global Trust Asset Management LLC purchased a new stake in AngloGold Ashanti during the first quarter valued at $30,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in AngloGold Ashanti during the first quarter valued at $30,000. Finally, SVB Wealth LLC purchased a new stake in AngloGold Ashanti during the first quarter valued at $32,000. Hedge funds and other institutional investors own 36.09% of the company's stock.

Analyst Ratings Changes

AU has been the subject of a number of research reports. Zacks Research cut AngloGold Ashanti from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. Scotiabank reiterated a "sector perform" rating and set a $55.00 price objective on shares of AngloGold Ashanti in a research report on Monday, August 11th. Wall Street Zen cut AngloGold Ashanti from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Roth Capital restated a "buy" rating on shares of AngloGold Ashanti in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. upped their price target on AngloGold Ashanti from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $49.60.

AngloGold Ashanti Price Performance

Shares of NYSE:AU traded up $0.75 during trading on Friday, hitting $66.30. 2,507,074 shares of the company's stock were exchanged, compared to its average volume of 3,013,587. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.22. AngloGold Ashanti PLC has a 52-week low of $22.45 and a 52-week high of $66.45. The business's 50-day simple moving average is $53.77 and its 200 day simple moving average is $45.11. The company has a market cap of $27.83 billion, a price-to-earnings ratio of 17.63 and a beta of 0.54.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its earnings results on Friday, August 1st. The mining company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.06). AngloGold Ashanti had a return on equity of 22.54% and a net margin of 23.60%.The business had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.29 billion. As a group, equities analysts predict that AngloGold Ashanti PLC will post 3.83 EPS for the current year.

AngloGold Ashanti Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, August 22nd. This is a positive change from AngloGold Ashanti's previous semi-annual dividend of $0.69. This represents a yield of 610.0%. AngloGold Ashanti's payout ratio is currently 85.11%.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.