CIBC Asset Management Inc Acquires 8,628 Shares of AngloGold Ashanti PLC $AU

CIBC Asset Management Inc raised its holdings in AngloGold Ashanti PLC (NYSE:AU) by 14.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 69,878 shares of the mining company’s stock after purchasing an additional 8,628 shares during the quarter. CIBC Asset Management Inc’s holdings in AngloGold Ashanti were worth $5,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in AngloGold Ashanti in the 4th quarter valued at about $426,477,000. Savant Capital LLC boosted its holdings in AngloGold Ashanti by 5.4% in the 4th quarter. Savant Capital LLC now owns 25,434 shares of the mining company’s stock valued at $2,169,000 after purchasing an additional 1,299 shares during the period. Geode Capital Management LLC boosted its holdings in AngloGold Ashanti by 29.8% in the 4th quarter. Geode Capital Management LLC now owns 4,684,560 shares of the mining company’s stock valued at $419,256,000 after purchasing an additional 1,074,822 shares during the period. Cary Street Partners Investment Advisory LLC bought a new stake in AngloGold Ashanti in the 4th quarter valued at about $56,000. Finally, Valued Retirements Inc. bought a new stake in AngloGold Ashanti in the 4th quarter valued at about $277,000. Institutional investors own 36.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Roth Mkm reissued a “buy” rating and issued a $121.00 price objective on shares of AngloGold Ashanti in a report on Monday, May 11th. Weiss Ratings downgraded shares of AngloGold Ashanti from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 1st. Zacks Research downgraded shares of AngloGold Ashanti from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Wall Street Zen downgraded shares of AngloGold Ashanti from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Scotiabank cut their price target on shares of AngloGold Ashanti from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $112.00.

AngloGold Ashanti Stock Performance

Shares of AngloGold Ashanti stock opened at $83.99 on Friday. The company has a 50 day moving average of $98.01 and a 200-day moving average of $97.06. AngloGold Ashanti PLC has a 1-year low of $43.44 and a 1-year high of $129.14. The company has a current ratio of 2.71, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19. The company has a market cap of $42.40 billion, a PE ratio of 12.31 and a beta of 0.60.

AngloGold Ashanti (NYSE:AU) last issued its quarterly earnings results on Friday, May 8th. The mining company reported $2.52 earnings per share for the quarter, topping 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 company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.26 billion. As a group, equities research analysts forecast that AngloGold Ashanti PLC will post 9.26 earnings per share for the current fiscal year.

AngloGold Ashanti Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a dividend of $1.16 per share. This is a boost from AngloGold Ashanti’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, May 29th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 5.5%. AngloGold Ashanti’s payout ratio is currently 68.04%.

AngloGold Ashanti 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.