24,616 Shares in AngloGold Ashanti PLC $AU Bought by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC purchased a new position in AngloGold Ashanti PLC (NYSE:AU) in the third quarter, HoldingsChannel reports. The fund purchased 24,616 shares of the mining company’s stock, valued at approximately $2,313,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ascentis Independent Advisors bought a new position in AngloGold Ashanti during the 1st quarter valued at $26,000. Ancora Advisors LLC acquired a new position in AngloGold Ashanti during the 2nd quarter worth $30,000. Reflection Asset Management bought a new stake in shares of AngloGold Ashanti in the 4th quarter worth about $42,000. Ameritas Advisory Services LLC bought a new stake in shares of AngloGold Ashanti in the 2nd quarter worth about $51,000. Finally, KBC Group NV bought a new stake in shares of AngloGold Ashanti in the 1st quarter worth about $55,000. 36.09% of the stock is owned by institutional investors and hedge funds.

AngloGold Ashanti Stock Performance

AU stock traded down $2.06 during trading on Tuesday, hitting $91.38. 1,165,202 shares of the company’s stock traded hands, compared to its average volume of 2,874,539. The company has a quick ratio of 2.07, a current ratio of 2.71 and a debt-to-equity ratio of 0.15. AngloGold Ashanti PLC has a 52 week low of $62.55 and a 52 week high of $129.14. The stock has a fifty day moving average price of $101.85 and a two-hundred day moving average price of $94.75. The stock has a market capitalization of $46.14 billion, a price-to-earnings ratio of 12.25 and a beta of 0.73.

AngloGold Ashanti (NYSE:AU) last issued its earnings results on Thursday, July 30th. The mining company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). AngloGold Ashanti had a return on equity of 38.77% and a net margin of 32.19%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.20 billion. As a group, equities analysts anticipate that AngloGold Ashanti PLC will post 8.16 EPS for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. This is a drop from AngloGold Ashanti’s previous quarterly dividend of $1.16. AngloGold Ashanti’s payout ratio is currently 6.70%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AU shares. BMO Capital Markets lowered shares of AngloGold Ashanti from an “outperform” rating to a “market perform” rating and set a $115.00 target price on the stock. in a research note on Thursday, September 10th. Weiss Ratings raised AngloGold Ashanti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Citigroup lowered their price objective on AngloGold Ashanti from $130.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Scotiabank cut their price objective 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. Finally, Zacks Research raised AngloGold Ashanti from a “strong sell” rating to a “hold” rating in a report on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.83.

About AngloGold Ashanti

AngloGold Ashanti plc (NYSE: AU) is a global gold mining company engaged in the exploration, development, and production of gold. Its activities include operating mines, processing ore into doré and bullion, and developing mineral resources and reserves. The company also conducts exploration and evaluation activities in areas with potential for additional gold discoveries.

The company has mining operations and projects across several regions, including Africa, Australia, the Americas, and other international markets.