Connor Clark & Lunn Investment Management Ltd. Trims Position in AngloGold Ashanti plc (NYSE:AU)

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of AngloGold Ashanti plc (NYSE:AU) by 63.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 89,949 shares of the mining company’s stock after selling 157,343 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in AngloGold Ashanti were worth $2,076,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in AngloGold Ashanti by 210.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the mining company’s stock valued at $27,000 after acquiring an additional 796 shares during the last quarter. R Squared Ltd purchased a new stake in AngloGold Ashanti during the fourth quarter valued at $36,000. Decker Retirement Planning Inc. purchased a new stake in AngloGold Ashanti during the fourth quarter valued at $69,000. SBI Securities Co. Ltd. purchased a new stake in AngloGold Ashanti during the fourth quarter valued at $82,000. Finally, JPMorgan Chase & Co. increased its position in AngloGold Ashanti by 378.2% during the third quarter. JPMorgan Chase & Co. now owns 4,782 shares of the mining company’s stock valued at $127,000 after acquiring an additional 3,782 shares during the last quarter. Hedge funds and other institutional investors own 36.09% of the company’s stock.

AngloGold Ashanti Stock Performance

NYSE:AU opened at $34.20 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. AngloGold Ashanti plc has a 12-month low of $20.05 and a 12-month high of $34.75. The stock has a 50-day moving average price of $30.16 and a 200 day moving average price of $27.75. The stock has a market capitalization of $14.35 billion, a P/E ratio of 10.69 and a beta of 0.92.

AngloGold Ashanti (NYSE:AU) last released its earnings results on Wednesday, February 19th. The mining company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.10). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Equities research analysts forecast that AngloGold Ashanti plc will post 3.83 EPS for the current fiscal year.

AngloGold Ashanti Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a dividend yield of 2.8%. This is a boost from AngloGold Ashanti’s previous semi-annual dividend of $0.22. AngloGold Ashanti’s dividend payout ratio (DPR) is currently 43.13%.

Analysts Set New Price Targets

AU has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of AngloGold Ashanti in a research report on Thursday, February 20th. Scotiabank upped their price target on AngloGold Ashanti from $30.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price target on AngloGold Ashanti from $37.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AngloGold Ashanti has an average rating of “Hold” and a consensus target price of $34.00.

AngloGold Ashanti Company 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.