CI Investments Inc. increased its stake in AngloGold Ashanti PLC (NYSE:AU – Free Report) by 234.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 382,816 shares of the mining company’s stock after purchasing an additional 268,462 shares during the period. CI Investments Inc.’s holdings in AngloGold Ashanti were worth $37,271,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of AU. Empowered Funds LLC acquired a new stake in AngloGold Ashanti during the first quarter worth about $321,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of AngloGold Ashanti by 30.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the mining company’s stock worth $47,000 after acquiring an additional 238 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of AngloGold Ashanti by 106.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,367 shares of the mining company’s stock worth $153,000 after acquiring an additional 1,734 shares during the period. First Trust Advisors LP boosted its position in shares of AngloGold Ashanti by 88.4% during the 2nd quarter. First Trust Advisors LP now owns 136,543 shares of the mining company’s stock worth $6,200,000 after acquiring an additional 64,066 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new stake in shares of AngloGold Ashanti during the 2nd quarter worth approximately $1,740,000. Institutional investors and hedge funds own 36.09% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of AngloGold Ashanti from $155.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Wall Street Zen downgraded AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Citigroup decreased their price target on AngloGold Ashanti from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Scotiabank lowered their price target on AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Finally, Zacks Research downgraded AngloGold Ashanti from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned 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 an average rating of “Moderate Buy” and an average price target of $110.50.
AngloGold Ashanti Stock Performance
NYSE:AU opened at $78.43 on Wednesday. The stock’s 50-day moving average is $86.63 and its 200-day moving average is $96.77. AngloGold Ashanti PLC has a 1-year low of $45.36 and a 1-year high of $129.14. The company has a current ratio of 2.71, a quick ratio of 2.11 and a debt-to-equity ratio of 0.19. The stock has a market cap of $39.60 billion, a P/E ratio of 11.50 and a beta of 0.65.
AngloGold Ashanti (NYSE:AU – Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The mining company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.25. AngloGold Ashanti had a net margin of 31.11% and a return on equity of 36.41%. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.26 billion. Equities research analysts anticipate that AngloGold Ashanti PLC will post 8.79 earnings per share for the current year.
AngloGold Ashanti Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a $1.16 dividend. This is an increase from AngloGold Ashanti’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 29th. This represents a $4.64 annualized dividend and a yield of 5.9%. AngloGold Ashanti’s dividend payout ratio is currently 68.04%.
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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