Zacks Investment Research upgraded shares of AngloGold Ashanti (NYSE:AU) from a sell rating to a hold rating in a research report released on Monday.
According to Zacks, “AngloGold Limited is the largest gold producer at 7 million ounces a year, with reserves of 126 m oz. The company has operations in six countries on three continents, some of which are joint ventures, as well as exploration activities in ten countries. AngloGold can be financially characterized by high cash generation, substantial reinvestment in long-term growth and the payment of significant dividends. The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market, particularly in Asia. “
Separately, ValuEngine lowered shares of AngloGold Ashanti from a hold rating to a sell rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $11.25.
The business also recently declared a None dividend, which was paid on Monday, April 16th. Shareholders of record on Friday, March 23rd were paid a $0.055 dividend. This represents a yield of 0.6%. The ex-dividend date was Thursday, March 22nd. AngloGold Ashanti’s payout ratio is currently 83.33%.
In other AngloGold Ashanti news, Director Lotan Holdings Inc. acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were acquired at an average price of $0.92 per share, with a total value of $46,000.00. In the last ninety days, insiders acquired 181,300 shares of company stock worth $170,623.
Hedge funds have recently made changes to their positions in the company. OLD Mission Capital LLC bought a new stake in shares of AngloGold Ashanti in the fourth quarter worth $105,000. Fox Run Management L.L.C. lifted its position in shares of AngloGold Ashanti by 44.3% in the fourth quarter. Fox Run Management L.L.C. now owns 19,050 shares of the mining company’s stock worth $194,000 after purchasing an additional 5,850 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of AngloGold Ashanti by 202.5% in the third quarter. Nationwide Fund Advisors now owns 24,344 shares of the mining company’s stock worth $226,000 after purchasing an additional 16,296 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of AngloGold Ashanti by 95.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 26,693 shares of the mining company’s stock worth $272,000 after purchasing an additional 13,051 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of AngloGold Ashanti in the fourth quarter worth $433,000. 31.56% of the stock is currently owned by institutional investors and hedge funds.
AngloGold Ashanti Company Profile
AngloGold Ashanti Limited operates as a gold mining and exploration company. The company also produces silver, uranium oxide, copper, and sulphuric acid. Its portfolio includes 17 mines in South Africa, Continental Africa, Australasia, and the Americas. AngloGold Ashanti Limited was founded in 1944 and is headquartered in Johannesburg, South Africa.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AngloGold Ashanti Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AngloGold Ashanti and related companies with MarketBeat.com's FREE daily email newsletter.