Engineers Gate Manager LP Raises Position in AngloGold Ashanti PLC $AU

Engineers Gate Manager LP increased its stake in AngloGold Ashanti PLC (NYSE:AU) by 103.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 78,521 shares of the mining company’s stock after buying an additional 39,832 shares during the quarter. Engineers Gate Manager LP’s holdings in AngloGold Ashanti were worth $6,352,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its position in AngloGold Ashanti by 406.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,288,253 shares of the mining company’s stock valued at $539,119,000 after acquiring an additional 5,047,686 shares in the last quarter. Norges Bank acquired a new position in shares of AngloGold Ashanti during the fourth quarter worth $426,477,000. State Street Corp lifted its position in shares of AngloGold Ashanti by 1,175.7% during the second quarter. State Street Corp now owns 4,967,173 shares of the mining company’s stock worth $226,354,000 after purchasing an additional 4,577,807 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of AngloGold Ashanti by 5,109.9% in the fourth quarter. AQR Capital Management LLC now owns 2,082,326 shares of the mining company’s stock valued at $179,286,000 after purchasing an additional 2,042,357 shares during the period. Finally, Capital World Investors boosted its stake in shares of AngloGold Ashanti by 64.5% in the fourth quarter. Capital World Investors now owns 4,186,463 shares of the mining company’s stock valued at $357,022,000 after purchasing an additional 1,641,545 shares during the period. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AU. Zacks Research downgraded shares of AngloGold Ashanti from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Wall Street Zen cut shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. BMO Capital Markets downgraded AngloGold Ashanti from an “outperform” rating to a “market perform” rating and set a $115.00 target price for the company. in a research note on Thursday. Weiss Ratings lowered AngloGold Ashanti from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Finally, Roth Capital cut their price target on AngloGold Ashanti from $121.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, AngloGold Ashanti presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.14.

AngloGold Ashanti Trading Up 0.6%

NYSE AU opened at $104.51 on Friday. AngloGold Ashanti PLC has a 12 month low of $62.55 and a 12 month high of $129.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.07. The company has a market capitalization of $52.76 billion, a price-to-earnings ratio of 14.01 and a beta of 0.74. The company’s fifty day moving average price is $94.65 and its two-hundred day moving average price is $96.22.

AngloGold Ashanti (NYSE:AU) last released its earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%.The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.20 billion. As a group, research analysts predict that AngloGold Ashanti PLC will post 8.14 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Shareholders 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 yield of 2.8%. AngloGold Ashanti’s dividend payout ratio is presently 6.70%.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc is a global gold mining company that explores for, develops, and operates gold mines. Its primary product is gold, with silver and other minerals produced as byproducts at some operations. The company also manages mineral exploration, mine development, processing, and related reclamation activities.

AngloGold Ashanti operates across several regions, including Africa, Australia, and the Americas. Its portfolio has included mines and projects in Ghana, Guinea, Tanzania, Australia, Brazil, and Argentina, supported by exploration programs in other prospective mining jurisdictions.