Abich Financial Wealth Management LLC Purchases Shares of 6,634 AngloGold Ashanti PLC $AU

Abich Financial Wealth Management LLC acquired a new stake in AngloGold Ashanti PLC (NYSE:AU) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,634 shares of the mining company’s stock, valued at approximately $467,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank bought a new position in AngloGold Ashanti in the second quarter worth about $1,270,000. Franklin Resources Inc. boosted its position in AngloGold Ashanti by 14.2% during the 2nd quarter. Franklin Resources Inc. now owns 1,675,740 shares of the mining company’s stock valued at $76,376,000 after acquiring an additional 207,923 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in shares of AngloGold Ashanti during the 3rd quarter worth approximately $1,408,000. Whitaker Myers Wealth Managers LTD. bought a new position in shares of AngloGold Ashanti in the 3rd quarter worth approximately $887,000. Finally, Commonwealth Equity Services LLC raised its position in shares of AngloGold Ashanti by 7.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 259,363 shares of the mining company’s stock worth $18,241,000 after acquiring an additional 18,457 shares in the last quarter. 36.09% of the stock is owned by institutional investors.

AngloGold Ashanti Stock Down 6.6%

AngloGold Ashanti stock opened at $104.84 on Friday. The firm has a market cap of $52.93 billion, a price-to-earnings ratio of 23.09 and a beta of 0.59. The stock has a fifty day simple moving average of $94.51 and a two-hundred day simple moving average of $76.69. AngloGold Ashanti PLC has a 12 month low of $28.44 and a 12 month high of $115.81. The company has a current ratio of 2.58, a quick ratio of 1.98 and a debt-to-equity ratio of 0.21.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings results on Wednesday, November 12th. The mining company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.02). AngloGold Ashanti had a net margin of 26.25% and a return on equity of 24.01%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.53 billion. Equities analysts predict that AngloGold Ashanti PLC will post 3.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of AngloGold Ashanti in a research report on Wednesday, January 21st. Roth Mkm boosted their target price on shares of AngloGold Ashanti from $84.00 to $92.00 and gave the company a “buy” rating in a report on Monday, December 15th. Scotiabank upped their target price on shares of AngloGold Ashanti from $92.00 to $131.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Wall Street Zen upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AngloGold Ashanti from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

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.