NewEdge Advisors LLC Lowers Stock Holdings in AngloGold Ashanti PLC $AU

NewEdge Advisors LLC cut its stake in shares of AngloGold Ashanti PLC (NYSE:AU) by 41.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,997 shares of the mining company’s stock after selling 6,461 shares during the period. NewEdge Advisors LLC’s holdings in AngloGold Ashanti were worth $876,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC purchased a new stake in shares of AngloGold Ashanti during the fourth quarter worth approximately $1,139,000. Bank of America Corp DE grew its position in AngloGold Ashanti by 93.6% in the 1st quarter. Bank of America Corp DE now owns 800,951 shares of the mining company’s stock valued at $77,981,000 after buying an additional 387,196 shares during the last quarter. Segment Wealth Management LLC acquired a new position in AngloGold Ashanti in the 4th quarter valued at $1,103,000. Caprock Group LLC increased its stake in AngloGold Ashanti by 23.9% in the 4th quarter. Caprock Group LLC now owns 65,706 shares of the mining company’s stock valued at $5,603,000 after buying an additional 12,694 shares during the period. Finally, SteelPeak Wealth LLC purchased a new position in AngloGold Ashanti during the 1st quarter worth $2,434,000. 36.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AU. JPMorgan Chase & Co. lowered their target price on shares of AngloGold Ashanti from $155.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Roth Capital cut their price target on shares of AngloGold Ashanti from $121.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Wall Street Zen cut shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Research downgraded shares of AngloGold Ashanti from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada lowered their price objective on AngloGold Ashanti from $114.00 to $111.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, AngloGold Ashanti has an average rating of “Moderate Buy” and a consensus price target of $110.50.

AngloGold Ashanti Price Performance

Shares of NYSE AU opened at $98.00 on Wednesday. The firm has a market capitalization of $49.48 billion, a P/E ratio of 13.14 and a beta of 0.66. AngloGold Ashanti PLC has a one year low of $52.05 and a one year high of $129.14. The company’s fifty day moving average is $84.77 and its two-hundred day moving average is $95.26. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.11 and a current ratio of 2.71.

AngloGold Ashanti (NYSE:AU) last issued its earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.20 billion. AngloGold Ashanti had a net margin of 32.19% and a return on equity of 39.54%. Analysts forecast that AngloGold Ashanti PLC will post 8.19 EPS for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be given a $0.72 dividend. The ex-dividend date is Friday, August 21st. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.9%. AngloGold Ashanti’s dividend payout ratio (DPR) is currently 62.20%.

AngloGold Ashanti Profile

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.