Tidal Investments LLC Increases Stake in AngloGold Ashanti plc

Tidal Investments LLC has significantly increased its investment in AngloGold Ashanti plc (NYSE:AU), boosting its stake by an impressive 80.5% during the third quarter of the year, according to recent reports from HoldingsChannel. Following this purchase, the institutional investor now holds a total of 25,452 shares in the gold mining company, after acquiring an additional 11,352 shares during the period. As reported in Tidal Investments LLC's latest SEC filing, the value of its holdings in AngloGold Ashanti reached approximately $678,000.

In addition to Tidal Investments LLC, several other hedge funds have recently adjusted their positions in AngloGold Ashanti. For instance, TT International Asset Management LTD raised its stake by 51.3% in the same quarter, now holding 2,836,110 shares valued at around $75.5 million, after purchasing 962,141 additional shares. Likewise, Geode Capital Management LLC increased its holdings by 2.7%, acquiring 8,676 shares to reach 327,108 shares total, worth about $8.7 million. The Public Employees Retirement System of Ohio also made a move by acquiring a new stake valued at roughly $1.6 million.

State Street Corp significantly expanded its holdings by 546.2%, now owning 211,826 shares worth $5.6 million after buying an additional 179,045 shares during the last quarter. Additionally, Quantinno Capital Management LP lifted its investment by 6.1%, resulting in a total of 26,080 shares valued at $695,000 after adding 1,508 shares. Overall, institutional investors and hedge funds own about 36.09% of AngloGold Ashanti's stock.

Performance of AngloGold Ashanti Stock

When examining the performance of AngloGold Ashanti stock, shares of AU opened at $23.90. The company boasts 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, indicative of relatively stable performance compared to the market. The debt-to-equity ratio stands at 0.46, complemented by a quick ratio of 1.14 and a current ratio of 1.73. Over the course of the last year, AngloGold Ashanti's stock has fluctuated, with a low of $15.80 and a high of $32.57. The stock's fifty-day moving average is currently positioned at $26.38, whereas the two-hundred day moving average is at $27.09.

Insights from Wall Street Analysts

Various analysts on Wall Street have offered their perspectives on the shares of AngloGold Ashanti. StockNews.com downgraded the shares from a “buy” to a “hold” rating in a research note published on November 12. Conversely, Royal Bank of Canada upgraded its rating from “sector perform” to “outperform”, setting a price target of $31 for the company. Similarly, JPMorgan Chase & Co. lowered its price target from $37 to $32, designating an “overweight” rating for the shares. On the other hand, Investec upgraded its rating from “hold” to “buy” as of October 18. Lastly, Scotiabank adjusted its outlook, changing the rating from “sector underperform” to “sector perform” and establishing a target price of $30. Of all the investment analysts surveyed, one rated the stock as a sell, two considered it a hold, while four assigned a buy rating. MarketBeat reports an average rating of “Hold” for AngloGold Ashanti, with a mean price target of $31.75.

Overview of AngloGold Ashanti

AngloGold Ashanti plc is a notable player in the gold mining sector, operating across Africa, Australia, and the Americas. The company is primarily engaged in gold exploration and production, with additional by-products that include silver and sulphuric acid. Among its assets, the Geita mine, which is 100% owned, represents a flagship property located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.

investment, stocks, growth