Tidal Investments LLC Increases Stake in AngloGold Ashanti plc

Tidal Investments LLC has significantly raised its investment in AngloGold Ashanti plc (NYSE:AU) by 80.5% during the third quarter of the year, as reported by HoldingsChannel. By the end of the quarter, Tidal Investments held 25,452 shares of this mining company's stock, following the purchase of an additional 11,352 shares. The value of Tidal's total holdings in AngloGold Ashanti is currently estimated at $678,000 according to the most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in AngloGold Ashanti. For instance, TT International Asset Management LTD increased its stake by 51.3% during the same quarter, taking its total to 2,836,110 shares, valued at approximately $75.5 million after acquiring 962,141 additional shares. Similarly, Geode Capital Management LLC raised its holdings by 2.7%, now owning 327,108 shares worth about $8.7 million, following the purchase of another 8,676 shares in the last quarter.

Furthermore, the Public Employees Retirement System of Ohio purchased a new stake in the company worth around $1.6 million in the third quarter. State Street Corp made a substantial increase, boosting its holdings by a remarkable 546.2%. It now possesses 211,826 shares valued at $5.6 million after buying 179,045 additional shares. Quantinno Capital Management LP also increased their stake by 6.1%, now holding 26,080 shares worth $695,000 after the purchase of 1,508 extra shares. Overall, hedge funds and institutional investors own approximately 36.09% of AngloGold Ashanti’s stock.

Current Stock Performance and Market Analysis

On the market, AngloGold Ashanti's shares opened at $23.90 recently. The company has a market capitalization of $10.03 billion and a price-to-earnings (P/E) ratio of 7.47, alongside a beta value of 0.94. Its financial ratios indicate a debt-to-equity ratio of 0.46, with a quick ratio of 1.14 and a current ratio of 1.73. Over the past year, the stock hit a low of $15.80 and surged to a high of $32.57. Additionally, the fifty-day moving average is recorded at $26.38, while the two-hundred-day moving average stands at $27.09.

Analyst Ratings and Insights

Equity research analysts have shared varying opinions on AngloGold Ashanti’s stock performance. StockNews.com downgraded the stock from a 'buy' to a 'hold' rating in a note dated November 12. Contrarily, the Royal Bank of Canada upgraded the shares from 'sector perform' to 'outperform', setting a price target of $31.00 in a report released on December 3. Additionally, JPMorgan Chase & Co. revised their price target down from $37.00 to $32.00 while maintaining an 'overweight' position for the shares in a note from December 6.

On another note, Investec upgraded AngloGold Ashanti from a 'hold' to a 'buy' rating on October 18, while Scotiabank changed their rating from 'sector underperform' to 'sector perform', providing a target price of $30.00 on November 21. At present, one investment analyst has given the stock a sell rating, two rated it as hold, and four showed a preference for buy. MarketBeat data suggests that, on average, AngloGold Ashanti holds a 'Hold' rating, with a target price average of $31.75.

Overview of AngloGold Ashanti plc

AngloGold Ashanti plc is a gold mining company that operates in various countries including Africa, Australia, and the Americas. Primarily engaged in gold exploration, the company also produces silver and sulphuric acid as by-products. Its flagship asset is the Geita mine, which is fully owned and located in the Lake Victoria goldfields of north-western Tanzania.

Investment, Mining, Stocks