Frank Rimerman Advisors LLC Acquires New Position in AngloGold Ashanti plc (NYSE:AU)

Frank Rimerman Advisors LLC acquired a new position in shares of AngloGold Ashanti plc (NYSE:AU) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 79,659 shares of the mining company’s stock, valued at approximately $2,002,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AU. Vanguard Personalized Indexing Management LLC purchased a new stake in AngloGold Ashanti during the fourth quarter worth $340,000. Beacon Pointe Advisors LLC purchased a new stake in shares of AngloGold Ashanti in the 4th quarter worth about $230,000. Allianz Asset Management GmbH grew its stake in AngloGold Ashanti by 52.8% in the 4th quarter. Allianz Asset Management GmbH now owns 1,424,939 shares of the mining company’s stock valued at $26,632,000 after acquiring an additional 492,358 shares during the last quarter. Cibc World Markets Corp purchased a new position in AngloGold Ashanti during the 4th quarter valued at about $1,268,000. Finally, Oaktree Capital Management LP raised its position in AngloGold Ashanti by 8.2% during the fourth quarter. Oaktree Capital Management LP now owns 5,874,951 shares of the mining company’s stock worth $109,803,000 after acquiring an additional 446,132 shares during the last quarter. 36.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on AU shares. StockNews.com upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Scotiabank reiterated a “sector underperform” rating and set a $30.00 target price (up previously from $27.00) on shares of AngloGold Ashanti in a report on Monday, August 19th. BMO Capital Markets boosted their price target on AngloGold Ashanti from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their price objective on AngloGold Ashanti from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.50.

AngloGold Ashanti Stock Up 1.6 %

AU stock opened at $28.03 on Friday. The company has a 50 day moving average price of $28.98 and a two-hundred day moving average price of $25.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.19 and a current ratio of 1.83. The stock has a market capitalization of $11.73 billion, a P/E ratio of 8.76 and a beta of 0.98. AngloGold Ashanti plc has a one year low of $14.91 and a one year high of $32.57.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings data on Tuesday, August 6th. The mining company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the firm earned $0.17 EPS. As a group, sell-side analysts expect that AngloGold Ashanti plc will post 2.39 EPS for the current year.

AngloGold Ashanti Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.22 per share. This is a positive change from AngloGold Ashanti’s previous Semi-Annual dividend of $0.19. The ex-dividend date was Friday, August 30th. This represents a yield of 0.7%. AngloGold Ashanti’s dividend payout ratio is 13.75%.

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.