Tidal Investments Increases Stake in AngloGold Ashanti plc

Tidal Investments LLC has significantly increased its investment in AngloGold Ashanti plc (NYSE:AU – Free Report) by 80.5% during the third quarter of the year, according to a report from HoldingsChannel. After acquiring an additional 11,352 shares, Tidal Investments now owns a total of 25,452 shares in the gold mining company. The value of these holdings is estimated at $678,000 based on the latest filings with the Securities and Exchange Commission (SEC).

Additionally, several other institutional investors have adjusted their positions in AngloGold Ashanti recently. For instance, TT International Asset Management LTD raised its stake by 51.3%, acquiring 962,141 shares to reach a total of 2,836,110 shares valued at approximately $75.5 million. Meanwhile, Geode Capital Management LLC increased its holdings by 2.7%, now possessing 327,108 shares worth $8.7 million after adding 8,676 shares. Other notable changes include the Public Employees Retirement System of Ohio, which bought a new stake valued at about $1.6 million, and State Street Corp, which expanded its holdings by an impressive 546.2%, acquiring 179,045 additional shares and totaling 211,826 shares valued at $5.64 million.

Performance of AngloGold Ashanti Stock

On Friday, shares of AngloGold Ashanti (AU) opened at $23.90. The company maintains a market capitalization of approximately $10.03 billion, with a price-to-earnings (P/E) ratio of 7.47 and a beta value of 0.94. Notably, AngloGold Ashanti's financial ratios include 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 seen a low of $15.80 and reached a high of $32.57. The fifty-day moving average stands at $26.38, while the two-hundred-day moving average is at $27.09.

Analyst Ratings for AngloGold Ashanti

Equities research analysts have had mixed views on AU shares. StockNews.com recently downgraded AngloGold Ashanti from a "buy" rating to a "hold" rating. Conversely, the Royal Bank of Canada upgraded the stock from a "sector perform" rating to "outperform" with a price target of $31.00. Other firms like JPMorgan Chase & Co. lowered their price target from $37.00 to $32.00 while maintaining an "overweight" rating. Investors received positive news from Investec, which upgraded its rating from "hold" to "buy," and Scotiabank, upgrading from a "sector underperform" to "sector perform," setting a price target of $30.00. In summary, one analyst has issued a sell rating, two have rated it as hold, and four have given it a buy rating, leading to an average rating of "Hold" with a price target set at $31.75, according to MarketBeat data.

Company Overview

About AngloGold Ashanti

AngloGold Ashanti plc is a gold mining company with operations in Africa, Australia, and the Americas. The firm primarily focuses on gold exploration and production, while also producing silver and sulphuric acid as by-products. The crown jewel of its portfolio is the Geita mine, which is wholly owned by the company and situated in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.

Investments, Mining, Investment