Forefront Wealth Management Inc. Acquires 638 Shares of AngloGold Ashanti plc (NYSE:AU)

Forefront Wealth Management Inc. grew its holdings in shares of AngloGold Ashanti plc (NYSE:AU) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,529 shares of the mining company’s stock after buying an additional 638 shares during the quarter. AngloGold Ashanti makes up 1.3% of Forefront Wealth Management Inc.’s portfolio, making the stock its 28th largest position. Forefront Wealth Management Inc.’s holdings in AngloGold Ashanti were worth $1,430,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of AngloGold Ashanti by 22.9% during the 4th quarter. Vanguard Group Inc. now owns 20,857,324 shares of the mining company’s stock worth $467,795,000 after purchasing an additional 3,882,283 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of AngloGold Ashanti by 274.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,133,744 shares of the mining company’s stock worth $118,448,000 after purchasing an additional 3,764,165 shares during the last quarter. Carrhae Capital LLP increased its stake in shares of AngloGold Ashanti by 170.0% during the 4th quarter. Carrhae Capital LLP now owns 3,459,193 shares of the mining company’s stock worth $79,838,000 after purchasing an additional 2,177,783 shares during the last quarter. Marshall Wace LLP increased its stake in shares of AngloGold Ashanti by 3,767.1% during the 4th quarter. Marshall Wace LLP now owns 2,751,410 shares of the mining company’s stock worth $63,503,000 after purchasing an additional 2,680,261 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of AngloGold Ashanti by 68.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,569,868 shares of the mining company’s stock worth $59,313,000 after purchasing an additional 1,045,335 shares during the last quarter. 36.09% of the stock is owned by institutional investors.

AngloGold Ashanti Stock Performance

Shares of NYSE:AU opened at $50.90 on Monday. The company’s 50 day moving average price is $42.84 and its two-hundred day moving average price is $34.05. AngloGold Ashanti plc has a 12-month low of $22.34 and a 12-month high of $51.71. The firm has a market cap of $21.37 billion, a PE ratio of 16.74 and a beta of 0.49. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.46.

AngloGold Ashanti (NYSE:AU) last announced its earnings results on Friday, May 9th. The mining company reported $0.88 earnings per share (EPS) for the quarter. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.84 billion. Equities research analysts predict that AngloGold Ashanti plc will post 3.83 earnings per share for the current year.

AngloGold Ashanti Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a dividend of $0.125 per share. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 1.14%. AngloGold Ashanti’s payout ratio is presently 16.45%.

Analysts Set New Price Targets

A number of research analysts recently commented on AU shares. Roth Capital started coverage on shares of AngloGold Ashanti in a research note on Thursday. They issued a “buy” rating and a $52.00 price target on the stock. Royal Bank of Canada upped their price target on shares of AngloGold Ashanti from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. HSBC reiterated a “reduce” rating and issued a $35.00 price target on shares of AngloGold Ashanti in a research note on Thursday, April 17th. JPMorgan Chase & Co. upped their price target on shares of AngloGold Ashanti from $33.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Finally, Wall Street Zen lowered shares of AngloGold Ashanti from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat, AngloGold Ashanti presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.08.

AngloGold Ashanti 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.