Forefront Wealth Management Inc. Invests $875,000 in AngloGold Ashanti plc (NYSE:AU)

Forefront Wealth Management Inc. bought a new position in shares of AngloGold Ashanti plc (NYSE:AU - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 37,891 shares of the mining company's stock, valued at approximately $875,000.

A number of other institutional investors also recently modified their holdings of AU. Whittier Trust Co. acquired a new position in shares of AngloGold Ashanti in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised 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 purchasing an additional 796 shares in the last quarter. R Squared Ltd bought a new stake in AngloGold Ashanti during the fourth quarter worth $36,000. Decker Retirement Planning Inc. acquired a new stake in shares of AngloGold Ashanti in the 4th quarter valued at $69,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of AngloGold Ashanti in the 4th quarter valued at $82,000. Institutional investors own 36.09% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AU shares. Scotiabank raised their price objective on AngloGold Ashanti from $30.00 to $34.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on shares of AngloGold Ashanti from $37.00 to $32.00 and set an "overweight" rating on the stock in a report on Friday, December 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 price objective on shares of AngloGold Ashanti in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, AngloGold Ashanti has an average rating of "Hold" and an average target price of $34.00.

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AngloGold Ashanti Trading Up 2.7 %

AU stock traded up $0.94 during trading on Tuesday, hitting $35.80. The company had a trading volume of 874,184 shares, compared to its average volume of 2,534,269. 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 one year low of $21.23 and a one year high of $36.69. The business has a 50-day moving average of $30.96 and a 200-day moving average of $27.94. The stock has a market cap of $15.02 billion, a PE ratio of 11.19 and a beta of 0.92.

AngloGold Ashanti (NYSE:AU - Get Free Report) last announced its earnings results on Wednesday, February 19th. The mining company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.10). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Research analysts predict that AngloGold Ashanti plc will post 3.83 earnings per share 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. Shareholders of record on Friday, March 14th will be issued a $0.69 dividend. This is an increase from AngloGold Ashanti's previous semi-annual dividend of $0.22. This represents a yield of 2.8%. The ex-dividend date is Friday, March 14th. AngloGold Ashanti's payout ratio is presently 43.13%.

AngloGold Ashanti 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.