Bank of Nova Scotia Acquires 9,411 Shares of AngloGold Ashanti PLC $AU

Bank of Nova Scotia boosted its holdings in AngloGold Ashanti PLC (NYSE:AU) by 11.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,642 shares of the mining company’s stock after acquiring an additional 9,411 shares during the period. Bank of Nova Scotia’s holdings in AngloGold Ashanti were worth $9,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Ascentis Independent Advisors acquired a new stake in shares of AngloGold Ashanti during the 1st quarter worth about $26,000. Zions Bancorporation National Association UT acquired a new stake in AngloGold Ashanti during the fourth quarter worth approximately $31,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of AngloGold Ashanti during the fourth quarter worth approximately $34,000. Ancora Advisors LLC bought a new stake in shares of AngloGold Ashanti during the third quarter worth approximately $35,000. Finally, Mcguire Capital Advisors Inc. acquired a new position in shares of AngloGold Ashanti in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 36.09% of the company’s stock.

AngloGold Ashanti Stock Performance

Shares of AngloGold Ashanti stock opened at $79.70 on Monday. The company has a 50 day moving average of $85.50 and a 200-day moving average of $96.63. AngloGold Ashanti PLC has a 1-year low of $45.36 and a 1-year high of $129.14. The company has a current ratio of 2.71, a quick ratio of 2.11 and a debt-to-equity ratio of 0.19. The company has a market cap of $40.24 billion, a PE ratio of 11.69 and a beta of 0.65.

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

AngloGold Ashanti Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Friday, May 29th. This is a positive change from AngloGold Ashanti’s previous quarterly dividend of $0.17. AngloGold Ashanti’s dividend payout ratio is 68.04%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings downgraded AngloGold Ashanti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. lowered their price objective 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. Zacks Research downgraded AngloGold Ashanti from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Citigroup reduced their target price on shares of AngloGold Ashanti from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Finally, Wall Street Zen lowered shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, AngloGold Ashanti presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.50.

AngloGold Ashanti Company 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.