Geode Capital Management LLC Increases Position in AngloGold Ashanti PLC $AU

Geode Capital Management LLC increased its holdings in AngloGold Ashanti PLC (NYSE:AU) by 274.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,137,721 shares of the mining company’s stock after acquiring an additional 2,300,204 shares during the period. Geode Capital Management LLC owned about 0.75% of AngloGold Ashanti worth $142,986,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AU. Acadian Asset Management LLC boosted its position in AngloGold Ashanti by 1,767.5% in the second quarter. Acadian Asset Management LLC now owns 2,788,123 shares of the mining company’s stock worth $127,027,000 after purchasing an additional 2,638,823 shares during the last quarter. Coronation Fund Managers Ltd. bought a new stake in shares of AngloGold Ashanti during the 1st quarter worth $63,186,000. Ruffer LLP purchased a new position in shares of AngloGold Ashanti in the 2nd quarter worth about $52,267,000. Nuveen LLC purchased a new position in shares of AngloGold Ashanti in the 1st quarter worth about $37,451,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in AngloGold Ashanti by 788.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 799,365 shares of the mining company’s stock valued at $29,672,000 after buying an additional 709,416 shares during the period. 36.09% of the stock is currently owned by institutional investors.

AngloGold Ashanti Stock Up 3.1%

AngloGold Ashanti stock opened at $80.13 on Wednesday. The firm has a 50 day simple moving average of $70.85 and a 200 day simple moving average of $56.78. The company has a current ratio of 2.99, a quick ratio of 2.22 and a debt-to-equity ratio of 0.22. AngloGold Ashanti PLC has a 1-year low of $22.45 and a 1-year high of $85.85. The firm has a market capitalization of $33.63 billion, a price-to-earnings ratio of 21.31 and a beta of 0.48.

AngloGold Ashanti (NYSE:AU) last posted its earnings results on Tuesday, November 11th. The mining company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.02). AngloGold Ashanti had a return on equity of 22.54% and a net margin of 23.60%.The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.53 billion. On average, analysts predict that AngloGold Ashanti PLC will post 3.83 earnings per share for the current year.

AngloGold Ashanti Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, November 28th. AngloGold Ashanti’s payout ratio is 80.18%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Scotiabank lifted their price objective on shares of AngloGold Ashanti from $90.00 to $92.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 12th. HSBC reiterated a “reduce” rating and issued a $55.00 price objective on shares of AngloGold Ashanti in a research note on Thursday, October 9th. Zacks Research raised AngloGold Ashanti from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Citigroup began coverage on AngloGold Ashanti in a research report on Monday, October 27th. They set a “buy” rating and a $90.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.