Tidal Investments LLC Increases Stake in AngloGold Ashanti plc

Tidal Investments LLC has significantly increased its investment in AngloGold Ashanti plc (NYSE:AU) by 80.5% during the third quarter, according to reports from HoldingsChannel. After acquiring an additional 11,352 shares, the institutional investor now owns a total of 25,452 shares of the gold mining company. With this stake, Tidal Investments LLC's holdings in AngloGold Ashanti were valued at approximately $678,000 as noted in their latest SEC filing.

Other institutional investors have also made adjustments to their positions in AngloGold Ashanti stock. For example, TT International Asset Management LTD raised its stake in the company by 51.3% during the same quarter. After acquiring an additional 962,141 shares, TT International now holds 2,836,110 shares valued at $75,525,000. Similarly, Geode Capital Management LLC grew its holdings by 2.7% in the third quarter, reaching 327,108 shares worth $8,711,000 after purchasing an extra 8,676 shares. Additionally, the Public Employees Retirement System of Ohio established a new investment in AngloGold Ashanti valued at about $1,606,000 in the third quarter. Another noteworthy increase came from State Street Corp, which lifted its holdings by an impressive 546.2%, owning 211,826 shares worth $5,641,000 after acquiring 179,045 shares. Lastly, Quantinno Capital Management LP boosted its position in AngloGold Ashanti by 6.1%, bringing its total to 26,080 shares valued at $695,000. In total, 36.09% of AngloGold Ashanti's stock is held by hedge funds and institutional investors.

Stock Performance Overview

As of the latest trading session, AngloGold Ashanti's stock opened at $23.90. The company boasts a market capitalization of $10.03 billion, a price-to-earnings (P/E) ratio of 7.47, and a beta of 0.94, which indicates low volatility compared to the market. Its financial indicators show a debt-to-equity ratio of 0.46, a quick ratio of 1.14, and a current ratio of 1.73. Over the past year, the stock has fluctuated between a low of $15.80 and a high of $32.57, with its fifty-day moving average standing at $26.38 and the two-hundred-day moving average at $27.09.

Analyst Insights

Equity analysts have provided various assessments of AngloGold Ashanti's stock. On November 12, StockNews.com downgraded the company from a “buy” rating to a “hold” rating. Conversely, Royal Bank of Canada upgraded its rating from “sector perform” to “outperform” with a price target of $31.00 on December 3. JPMorgan Chase & Co. revised their price target from $37.00 to $32.00, rating the stock as “overweight” on December 6. Investec also upgraded AngloGold Ashanti from a “hold” to a “buy” on October 18. Furthermore, Scotiabank improved its rating from “sector underperform” to “sector perform” with a target price of $30.00 on November 21. Cumulatively, one analyst rates the stock as a sell, two view it as hold, and four analysts suggest it is a buy. Based on these evaluations, AngloGold Ashanti has an overall average rating of “Hold” with an average price target of $31.75.

About AngloGold Ashanti

AngloGold Ashanti plc is a globally recognized gold mining firm operating primarily across Africa, Australia, and the Americas. The company focuses on gold exploration and production, while also generating silver and sulphuric acid as by-products. Its flagship asset is the 100% owned Geita mine, which is situated in Tanzania's Lake Victoria goldfields in the Mwanza region.

Investment, Mining, Shares