Waverly Advisors LLC Takes Position in AngloGold Ashanti PLC $AU

Key Points

• Waverly Advisors purchased 43,867 AngloGold Ashanti shares during the first quarter, valued at approximately $4.27 million. Institutional investors and hedge funds collectively own 36.09% of the company.
• AngloGold Ashanti reported quarterly EPS of $2.52, beating analyst expectations of $2.27, while revenue totaled $3.24 billion. The company also raised its quarterly dividend to $1.16 per share, representing an annualized yield of about 5.9%.
• Analyst sentiment remains a “Moderate Buy”, with a consensus price target of $110.50, although several firms recently lowered their targets and Zacks Research downgraded the stock to “strong sell.”

Waverly Advisors LLC purchased a new stake in AngloGold Ashanti PLC (NYSE:AU - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 43,867 shares of the mining company's stock, valued at approximately $4,271,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ascentis Independent Advisors bought a new stake in AngloGold Ashanti during the 1st quarter worth about $26,000. Zions Bancorporation National Association UT bought a new position in shares of AngloGold Ashanti in the 4th quarter valued at about $31,000. Garton & Associates Financial Advisors LLC bought a new position in shares of AngloGold Ashanti in the 4th quarter valued at about $34,000. Ancora Advisors LLC acquired a new stake in shares of AngloGold Ashanti during the 3rd quarter worth approximately $35,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of AngloGold Ashanti during the 4th quarter worth approximately $36,000. 36.09% of the stock is currently owned by institutional investors and hedge funds.

AngloGold Ashanti Price Performance

AngloGold Ashanti stock opened at $78.90 on Wednesday. The firm has a market capitalization of $39.84 billion, a P/E ratio of 11.57 and a beta of 0.65. AngloGold Ashanti PLC has a 1 year low of $45.36 and a 1 year high of $129.14. The business has a 50-day moving average of $85.03 and a 200-day moving average of $96.44. The company has a current ratio of 2.71, a quick ratio of 2.11 and a debt-to-equity ratio of 0.19.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The mining company reported $2.52 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.25. The company had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.26 billion. AngloGold Ashanti had a return on equity of 36.41% and a net margin of 31.11%. On average, equities analysts anticipate that AngloGold Ashanti PLC will post 8.23 EPS for the current year.

AngloGold Ashanti Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a dividend of $1.16 per share. This is an increase from AngloGold Ashanti's previous quarterly dividend of $0.17. This represents a $4.64 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Friday, May 29th. AngloGold Ashanti's dividend payout ratio is presently 68.04%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AU shares. Royal Bank Of Canada dropped their price target on shares of AngloGold Ashanti from $114.00 to $111.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Scotiabank reduced their price objective on shares of AngloGold Ashanti from $134.00 to $128.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, July 14th. Zacks Research lowered shares of AngloGold Ashanti from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 15th. Citigroup dropped their target price 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. Finally, JPMorgan Chase & Co. cut their price target on AngloGold Ashanti from $155.00 to $134.00 and set an "overweight" rating on the stock in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $110.50.

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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