Drive Wealth Management LLC Invests $357,000 in AngloGold Ashanti PLC $AU

Drive Wealth Management LLC purchased a new stake in AngloGold Ashanti PLC (NYSE:AU) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 7,834 shares of the mining company’s stock, valued at approximately $357,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AU. MJT & Associates Financial Advisory Group Inc. acquired a new position in AngloGold Ashanti during the 1st quarter valued at about $30,000. Financial Management Professionals Inc. bought a new stake in shares of AngloGold Ashanti during the second quarter worth approximately $30,000. SVB Wealth LLC bought a new position in AngloGold Ashanti in the first quarter valued at approximately $32,000. Farther Finance Advisors LLC boosted its stake in AngloGold Ashanti by 579.2% in the second quarter. Farther Finance Advisors LLC now owns 1,664 shares of the mining company’s stock valued at $76,000 after acquiring an additional 1,419 shares during the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new stake in AngloGold Ashanti during the 1st quarter worth $77,000. 36.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. HSBC restated a “reduce” rating and issued a $55.00 price target on shares of AngloGold Ashanti in a research report on Thursday, October 9th. Scotiabank restated a “sector perform” rating and set a $55.00 target price on shares of AngloGold Ashanti in a report on Monday, August 11th. Roth Capital set a $76.00 target price on AngloGold Ashanti and gave the stock a “buy” rating in a research report on Friday, October 3rd. Wall Street Zen upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Finally, Zacks Research upgraded shares of AngloGold Ashanti from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, AngloGold Ashanti currently has an average rating of “Hold” and a consensus target price of $58.00.

AngloGold Ashanti Price Performance

NYSE AU opened at $75.22 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.22 and a current ratio of 2.99. The stock has a market cap of $31.57 billion, a price-to-earnings ratio of 20.00 and a beta of 0.53. The business has a 50 day simple moving average of $64.60 and a 200 day simple moving average of $52.10. AngloGold Ashanti PLC has a 52-week low of $22.45 and a 52-week high of $79.94.

AngloGold Ashanti (NYSE:AU) last released its quarterly earnings results on Friday, August 1st. The mining company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.06). AngloGold Ashanti had a net margin of 23.60% and a return on equity of 22.54%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.29 billion. Analysts anticipate that AngloGold Ashanti PLC will post 3.83 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were given a dividend of $0.80 per share. This is an increase from AngloGold Ashanti’s previous semi-annual dividend of $0.69. This represents a dividend yield of 610.0%. The ex-dividend date of this dividend was Friday, August 22nd. AngloGold Ashanti’s payout ratio is currently 85.11%.

About AngloGold Ashanti

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.