Wedmont Private Capital Increases Stock Position in AngloGold Ashanti PLC $AU

Wedmont Private Capital grew its holdings in shares of AngloGold Ashanti PLC (NYSE:AU) by 82.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 19,213 shares of the mining company’s stock after buying an additional 8,656 shares during the period. Wedmont Private Capital’s holdings in AngloGold Ashanti were worth $1,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC purchased a new position in AngloGold Ashanti during the 1st quarter valued at about $321,000. Northwestern Mutual Wealth Management Co. grew its holdings in AngloGold Ashanti by 30.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,023 shares of the mining company’s stock worth $47,000 after purchasing an additional 238 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of AngloGold Ashanti by 106.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,367 shares of the mining company’s stock valued at $153,000 after purchasing an additional 1,734 shares in the last quarter. First Trust Advisors LP increased its stake in shares of AngloGold Ashanti by 88.4% during the second quarter. First Trust Advisors LP now owns 136,543 shares of the mining company’s stock valued at $6,200,000 after purchasing an additional 64,066 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new position in shares of AngloGold Ashanti during the second quarter valued at approximately $1,740,000. 36.09% of the stock is owned by hedge funds and other institutional investors.

AngloGold Ashanti Stock Down 0.1%

NYSE:AU opened at $108.95 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.07 and a current ratio of 2.71. The firm has a market cap of $55.01 billion, a P/E ratio of 14.60 and a beta of 0.74. AngloGold Ashanti PLC has a fifty-two week low of $58.83 and a fifty-two week high of $129.14. The firm has a 50-day simple moving average of $92.76 and a two-hundred day simple moving average of $96.24.

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 the consensus estimate of $2.03 by ($0.05). The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.20 billion. AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%. Analysts predict that AngloGold Ashanti PLC will post 8.14 earnings per share for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, August 21st. AngloGold Ashanti’s dividend payout ratio (DPR) is currently 6.70%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on AngloGold Ashanti from $155.00 to $134.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Weiss Ratings lowered AngloGold Ashanti from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Citigroup lowered their price objective on AngloGold Ashanti from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Royal Bank Of Canada dropped their target price on AngloGold Ashanti from $114.00 to $111.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Scotiabank cut their target price on AngloGold Ashanti from $134.00 to $128.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.50.

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.