Beacon Harbor Wealth Advisors Inc. Purchases Shares of 76,487 AngloGold Ashanti PLC $AU

Beacon Harbor Wealth Advisors Inc. purchased a new stake in AngloGold Ashanti PLC (NYSE:AU) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 76,487 shares of the mining company’s stock, valued at approximately $6,523,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC purchased a new stake in shares of AngloGold Ashanti in the 3rd quarter valued at about $25,000. UMB Bank n.a. raised its holdings in shares of AngloGold Ashanti by 129.0% in the 3rd quarter. UMB Bank n.a. now owns 490 shares of the mining company’s stock valued at $34,000 after acquiring an additional 276 shares in the last quarter. Optimum Investment Advisors purchased a new stake in shares of AngloGold Ashanti in the 3rd quarter valued at about $35,000. Ancora Advisors LLC purchased a new position in shares of AngloGold Ashanti during the 3rd quarter valued at about $35,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of AngloGold Ashanti by 33.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 599 shares of the mining company’s stock valued at $42,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 36.09% of the company’s stock.

AngloGold Ashanti Stock Performance

Shares of NYSE AU opened at $109.13 on Friday. The stock has a market cap of $55.10 billion, a price-to-earnings ratio of 21.03 and a beta of 0.66. The company has a current ratio of 2.87, a quick ratio of 2.20 and a debt-to-equity ratio of 0.20. AngloGold Ashanti PLC has a 1-year low of $38.61 and a 1-year high of $129.14. The stock’s 50-day moving average is $104.30 and its 200 day moving average is $90.17.

AngloGold Ashanti (NYSE:AU) last announced its quarterly earnings results on Friday, February 20th. The mining company reported $1.90 EPS for the quarter, hitting analysts’ consensus estimates of $1.90. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.99 billion. AngloGold Ashanti had a return on equity of 29.11% and a net margin of 26.65%. On average, sell-side analysts anticipate that AngloGold Ashanti PLC will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a $0.173 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, March 13th. AngloGold Ashanti’s payout ratio is 133.33%.

Wall Street Analyst Weigh In

AU has been the topic of a number of research reports. Citigroup raised their price objective on AngloGold Ashanti from $105.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Roth Mkm reissued a “buy” rating and set a $122.00 price objective on shares of AngloGold Ashanti in a report on Friday, February 20th. Zacks Research cut AngloGold Ashanti from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Scotiabank decreased their price objective on AngloGold Ashanti from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, March 20th. Finally, Weiss Ratings cut AngloGold Ashanti from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $112.20.

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.