AngloGold Ashanti PLC (NYSE:AU) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 37.3% to 3.85 million shares as of September 15, representing about 0.8% of AngloGold Ashanti’s outstanding stock and 1.7 days of average trading volume.
• The company reported quarterly EPS of $1.98, slightly below the $2.03 analyst consensus, while revenue of $3.10 billion also missed expectations. Its quarterly dividend was reduced to $0.72 per share from $1.16, resulting in a 3.1% annualized yield.
• Analysts maintained a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $113.14; institutional investors own 36.09% of the shares.

AngloGold Ashanti PLC (NYSE:AU - Get Free Report) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 3,853,330 shares, a drop of 37.3% from the August 31st total of 6,149,659 shares. Based on an average trading volume of 2,240,804 shares, the short-interest ratio is currently 1.7 days. Approximately 0.8% of the company's stock are sold short.

AngloGold Ashanti Stock Performance

Shares of NYSE AU traded down $0.03 during midday trading on Thursday, hitting $93.92. 200,668 shares of the company's stock traded hands, compared to its average volume of 2,915,129. The firm has a fifty day moving average of $99.70 and a 200 day moving average of $94.56. AngloGold Ashanti has a 1 year low of $62.55 and a 1 year high of $129.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.07 and a current ratio of 2.71. The stock has a market capitalization of $47.42 billion, a price-to-earnings ratio of 12.58 and a beta of 0.74.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($0.05). AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%.The business had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.20 billion. On average, analysts forecast that AngloGold Ashanti will post 8.16 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 21st were paid a dividend of $0.72 per share. The ex-dividend date was Friday, August 21st. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. This is a drop from AngloGold Ashanti's previous quarterly dividend of $1.16. AngloGold Ashanti's dividend payout ratio is 6.70%.

Institutional Investors Weigh In On AngloGold Ashanti

Several hedge funds and other institutional investors have recently modified their holdings of AU. Ascentis Independent Advisors purchased a new position in AngloGold Ashanti in the 1st quarter worth approximately $26,000. Ancora Advisors LLC purchased a new position in shares of AngloGold Ashanti in the second quarter worth $30,000. Reflection Asset Management purchased a new position in shares of AngloGold Ashanti in the fourth quarter worth $42,000. Ameritas Advisory Services LLC purchased a new position in AngloGold Ashanti during the second quarter valued at $51,000. Finally, KBC Group NV bought a new stake in AngloGold Ashanti in the 1st quarter valued at $55,000. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BMO Capital Markets lowered AngloGold Ashanti from an "outperform" rating to a "market perform" rating and set a $115.00 price target for the company. in a research report on Thursday, September 10th. Citigroup reduced their price objective on AngloGold Ashanti from $130.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. Freedom Capital raised AngloGold Ashanti to a "strong-buy" rating in a research report on Friday, June 26th. Zacks Research upgraded shares of AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research note on Friday, September 11th. Finally, Royal Bank Of Canada raised their price target on shares of AngloGold Ashanti from $111.00 to $119.00 and gave the company an "outperform" rating in a report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $113.14.

About AngloGold Ashanti

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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