Neo Ivy Capital Management Takes $389,000 Position in AngloGold Ashanti PLC $AU

Neo Ivy Capital Management acquired a new position in AngloGold Ashanti PLC (NYSE:AU) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 5,526 shares of the mining company’s stock, valued at approximately $389,000.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in shares of AngloGold Ashanti by 4.8% during the third quarter. EverSource Wealth Advisors LLC now owns 3,528 shares of the mining company’s stock valued at $248,000 after buying an additional 161 shares during the last quarter. CoreCap Advisors LLC increased its position in AngloGold Ashanti by 27.3% in the 3rd quarter. CoreCap Advisors LLC now owns 1,006 shares of the mining company’s stock valued at $71,000 after acquiring an additional 216 shares during the period. Farther Finance Advisors LLC raised its stake in AngloGold Ashanti by 13.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,893 shares of the mining company’s stock valued at $133,000 after acquiring an additional 229 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in 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. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of AngloGold Ashanti by 27.2% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,257 shares of the mining company’s stock worth $88,000 after purchasing an additional 269 shares in the last quarter. 36.09% of the stock is currently owned by institutional investors.

AngloGold Ashanti Trading Down 1.2%

Shares of NYSE AU opened at $106.58 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.58 and a debt-to-equity ratio of 0.21. AngloGold Ashanti PLC has a 12 month low of $30.19 and a 12 month high of $129.14. The company has a market cap of $53.81 billion, a price-to-earnings ratio of 20.54 and a beta of 0.55. The business has a fifty day simple moving average of $104.19 and a 200-day simple moving average of $84.02.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings results on Friday, February 20th. The mining company reported $1.90 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.90. AngloGold Ashanti had a return on equity of 29.70% and a net margin of 26.65%.The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Sell-side analysts predict that AngloGold Ashanti PLC will post 3.83 EPS for the current year.

AngloGold Ashanti Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.173 per share. The ex-dividend date is Friday, March 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.6%. AngloGold Ashanti’s payout ratio is currently 133.33%.

Analyst Ratings Changes

AU has been the subject of a number of research analyst reports. Weiss Ratings downgraded AngloGold Ashanti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 25th. Citigroup upped their price objective on AngloGold Ashanti from $105.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. lifted their target price on AngloGold Ashanti from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. Wall Street Zen upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Roth Mkm restated a “buy” rating and set a $122.00 price objective on shares of AngloGold Ashanti in a research report on Friday, February 20th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.50.

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.