SummitTX Capital L.P. Trims Holdings in AngloGold Ashanti PLC $AU

SummitTX Capital L.P. cut its holdings in shares of AngloGold Ashanti PLC (NYSE:AU) by 48.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,632 shares of the mining company’s stock after selling 18,523 shares during the period. SummitTX Capital L.P.’s holdings in AngloGold Ashanti were worth $1,911,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ninety One SA Pty Ltd purchased a new position in shares of AngloGold Ashanti during the 4th quarter worth approximately $1,380,472,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of AngloGold Ashanti by 406.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,288,253 shares of the mining company’s stock valued at $539,119,000 after acquiring an additional 5,047,686 shares in the last quarter. Norges Bank purchased a new position in AngloGold Ashanti in the fourth quarter worth about $426,477,000. State Street Corp lifted its stake in shares of AngloGold Ashanti by 1,175.7% in the second quarter. State Street Corp now owns 4,967,173 shares of the mining company’s stock worth $226,354,000 after buying an additional 4,577,807 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of AngloGold Ashanti by 5,109.9% during the fourth quarter. AQR Capital Management LLC now owns 2,082,326 shares of the mining company’s stock valued at $179,286,000 after buying an additional 2,042,357 shares during the last quarter. Hedge funds and other institutional investors own 36.09% of the company’s stock.

AngloGold Ashanti Stock Performance

Shares of AU opened at $78.90 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.71 and a quick ratio of 2.11. AngloGold Ashanti PLC has a one year low of $45.36 and a one year high of $129.14. The firm has a market capitalization of $39.84 billion, a P/E ratio of 11.57 and a beta of 0.65. The business has a fifty day moving average of $85.03 and a 200 day moving average of $96.44.

AngloGold Ashanti (NYSE:AU) last posted its quarterly earnings data on Friday, May 8th. The mining company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.25. AngloGold Ashanti had a return on equity of 36.41% and a net margin of 31.11%.The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.26 billion. As a group, sell-side analysts anticipate that AngloGold Ashanti PLC will post 8.23 EPS for the current year.

AngloGold Ashanti Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a $1.16 dividend. The ex-dividend date was Friday, May 29th. This is a boost from AngloGold Ashanti’s previous quarterly dividend of $0.17. This represents a $4.64 annualized dividend and a yield of 5.9%. AngloGold Ashanti’s payout ratio is 68.04%.

Analyst Ratings Changes

Several brokerages recently weighed in on AU. JPMorgan Chase & Co. reduced 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 raised AngloGold Ashanti to a “strong-buy” rating in a research report on Friday, June 26th. Citigroup cut their target price on AngloGold Ashanti from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings lowered AngloGold Ashanti from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 1st. Finally, Wall Street Zen cut AngloGold Ashanti from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. One investment 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.