AngloGold Ashanti PLC $AU Stock: Global Strategic Management Inc. Decreases Stake

Global Strategic Management Inc. decreased its holdings in AngloGold Ashanti PLC (NYSE:AU) by 62.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,540 shares of the mining company’s stock after selling 22,060 shares during the quarter. AngloGold Ashanti comprises approximately 0.9% of Global Strategic Management Inc.’s portfolio, making the stock its 18th biggest position. Global Strategic Management Inc.’s holdings in AngloGold Ashanti were worth $1,275,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in AngloGold Ashanti by 4.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 11,283 shares of the mining company’s stock valued at $1,058,000 after purchasing an additional 432 shares during the period. Ninety One SA Pty Ltd raised its holdings in AngloGold Ashanti by 1.8% in the 3rd quarter. Ninety One SA Pty Ltd now owns 11,398,551 shares of the mining company’s stock worth $1,069,147,000 after purchasing an additional 203,418 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of AngloGold Ashanti in the 3rd quarter worth about $79,000. First Citizens Bank & Trust Co. purchased a new stake in shares of AngloGold Ashanti in the 3rd quarter worth about $698,000. Finally, Euro Pacific Asset Management LLC lifted its position in shares of AngloGold Ashanti by 4.4% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 285,337 shares of the mining company’s stock worth $26,807,000 after purchasing an additional 12,051 shares during the period. Institutional investors own 36.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AU. Citigroup cut their target price on shares of 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 decreased their price target on shares of AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price objective on AngloGold Ashanti from $134.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, September 15th. BMO Capital Markets downgraded AngloGold Ashanti from an “outperform” rating to a “market perform” rating and set a $115.00 target price on the stock. in a report on Thursday, September 10th. Finally, Weiss Ratings upgraded AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $120.14.

AngloGold Ashanti Stock Performance

Shares of AngloGold Ashanti stock opened at $91.44 on Friday. The stock has a market cap of $46.17 billion, a price-to-earnings ratio of 12.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.07. AngloGold Ashanti PLC has a 1 year low of $62.55 and a 1 year high of $129.14. The firm’s 50-day moving average is $102.12 and its 200 day moving average is $94.80.

AngloGold Ashanti (NYSE:AU) last posted its quarterly earnings results on Thursday, July 30th. The mining company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). AngloGold Ashanti had a net margin of 32.19% and a return on equity of 38.77%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Sell-side analysts anticipate that AngloGold Ashanti PLC will post 8.16 EPS for the current fiscal year.

AngloGold Ashanti Cuts Dividend

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

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.