Los Angeles Capital Management LLC Invests $13.20 Million in AngloGold Ashanti PLC $AU

Los Angeles Capital Management LLC bought a new stake in AngloGold Ashanti PLC (NYSE:AU) during the 2nd quarter, Holdings Channel reports. The firm bought 289,585 shares of the mining company’s stock, valued at approximately $13,196,000.

Several other hedge funds have also added to or reduced their stakes in the company. Forefront Wealth Management Inc. grew its holdings in AngloGold Ashanti by 46.8% in the 2nd quarter. Forefront Wealth Management Inc. now owns 56,545 shares of the mining company’s stock valued at $2,577,000 after buying an additional 18,016 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of AngloGold Ashanti during the first quarter worth $5,538,000. Amalgamated Bank bought a new stake in shares of AngloGold Ashanti in the second quarter valued at about $1,270,000. Yousif Capital Management LLC grew its stake in shares of AngloGold Ashanti by 102.6% in the second quarter. Yousif Capital Management LLC now owns 13,101 shares of the mining company’s stock valued at $597,000 after acquiring an additional 6,636 shares in the last quarter. Finally, U S Global Investors Inc. increased its position in AngloGold Ashanti by 8.3% during the second quarter. U S Global Investors Inc. now owns 65,000 shares of the mining company’s stock worth $2,962,000 after acquiring an additional 5,000 shares during the period. 36.09% of the stock is owned by institutional investors and hedge funds.

AngloGold Ashanti Stock Performance

Shares of AngloGold Ashanti stock opened at $69.38 on Friday. The company has a 50 day moving average of $68.05 and a 200-day moving average of $54.76. AngloGold Ashanti PLC has a 1-year low of $22.45 and a 1-year high of $79.94. The company has a current ratio of 2.99, a quick ratio of 2.22 and a debt-to-equity ratio of 0.22. The company has a market cap of $29.12 billion, a PE ratio of 18.45 and a beta of 0.48.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Roth Capital set a $76.00 price objective on shares of AngloGold Ashanti and gave the company a “buy” rating in a report on Friday, October 3rd. Zacks Research upgraded shares of AngloGold Ashanti from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Scotiabank upgraded AngloGold Ashanti from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $55.00 to $90.00 in a research note on Thursday, October 23rd. Citigroup began coverage on AngloGold Ashanti in a research report on Monday, October 27th. They set a “buy” rating and a $90.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on AngloGold Ashanti from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.17.

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.