Ninepoint Partners LP Takes $6.03 Million Position in AngloGold Ashanti PLC $AU

Ninepoint Partners LP bought a new stake in shares of AngloGold Ashanti PLC (NYSE:AU) in the 2nd quarter, Holdings Channel.com reports. The firm bought 74,550 shares of the mining company’s stock, valued at approximately $6,030,000.

Several other institutional investors and hedge funds have also bought and sold shares of AU. Ascentis Independent Advisors bought a new stake in AngloGold Ashanti in the first quarter valued at approximately $26,000. Zions Bancorporation National Association UT bought a new position in shares of AngloGold Ashanti in the fourth quarter worth approximately $31,000. Garton & Associates Financial Advisors LLC bought a new position in shares of AngloGold Ashanti in the fourth quarter worth approximately $34,000. Mcguire Capital Advisors Inc. purchased a new position in shares of AngloGold Ashanti in the fourth quarter worth $36,000. Finally, Global Retirement Partners LLC increased its stake in shares of AngloGold Ashanti by 454.1% in the fourth quarter. Global Retirement Partners LLC now owns 471 shares of the mining company’s stock worth $40,000 after buying an additional 386 shares during the period. 36.09% of the stock is currently owned by institutional investors.

AngloGold Ashanti Stock Performance

Shares of AU stock opened at $115.50 on Friday. The firm has a market capitalization of $58.31 billion, a price-to-earnings ratio of 15.48 and a beta of 0.66. The stock has a fifty day moving average of $86.02 and a 200 day moving average of $95.43. AngloGold Ashanti PLC has a 52 week low of $52.26 and a 52 week high of $129.14. The company has a quick ratio of 2.11, a current ratio of 2.71 and a debt-to-equity ratio of 0.19.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings data 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). AngloGold Ashanti had a net margin of 32.19% and a return on equity of 39.54%. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.20 billion. As a group, research analysts expect that AngloGold Ashanti PLC will post 8.19 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, August 21st. AngloGold Ashanti’s dividend payout ratio is presently 62.20%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AU. JPMorgan Chase & Co. dropped their price target on shares of AngloGold Ashanti from $155.00 to $134.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Freedom Capital upgraded shares of AngloGold Ashanti to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings downgraded shares of AngloGold Ashanti from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Scotiabank dropped their target price on shares of AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada cut their target price on AngloGold Ashanti from $114.00 to $111.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.50.

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.