Tidal Investments LLC Increases Stake in AngloGold Ashanti plc

Tidal Investments LLC has significantly increased its investment in AngloGold Ashanti plc (NYSE:AU) during the third quarter of 2024. According to recent reports, the institutional investor raised its stake by an impressive 80.5%. Following this transaction, Tidal Investments LLC now holds 25,452 shares of the mining company's stock, following the acquisition of an additional 11,352 shares during this period. The reported value of Tidal Investments LLC's holdings in AngloGold Ashanti stands at approximately $678,000, as detailed in their latest SEC filing.

In addition to Tidal Investments LLC, several other institutional investors have also adjusted their holdings in AngloGold Ashanti recently. TT International Asset Management LTD increased its position by 51.3% in the same quarter. They now own 2,836,110 shares, valued at around $75,525,000, after acquiring an additional 962,141 shares.

Geode Capital Management LLC has also expanded its investment, growing its holdings by 2.7% during the third quarter. After purchasing an additional 8,676 shares, Geode Capital Management LLC owns 327,108 shares with a value of $8,711,000. The Public Employees Retirement System of Ohio entered the market by acquiring a new stake valued at approximately $1,606,000.

State Street Corp made a substantial move as well, boosting its holdings by 546.2% in this quarter. They now control 211,826 shares worth about $5,641,000, after increasing their position by 179,045 shares. Lastly, Quantinno Capital Management LP raised its investment by 6.1%, accumulating 26,080 shares valued at $695,000 after buying an additional 1,508 shares. Overall, hedge funds and other institutional investors own approximately 36.09% of AngloGold Ashanti's stock.

AngloGold Ashanti Stock Details

As of last Friday, shares of AngloGold Ashanti traded at $23.90. The company has a market capitalization of $10.03 billion, with a price-to-earnings (P/E) ratio of 7.47 and a beta of 0.94. Its financial health is reflected in a debt-to-equity ratio of 0.46, alongside a quick ratio of 1.14 and a current ratio of 1.73. Over the past year, AngloGold Ashanti has experienced fluctuations, with its stock hitting a low of $15.80 and a high of $32.57. Its 50-day and 200-day moving averages currently stand at $26.38 and $27.09, respectively.

Analyst Opinions

Equity research analysts have weighed in on AngloGold Ashanti shares, offering various ratings. Recently, StockNews.com downgraded the company's rating from "buy" to "hold". Meanwhile, the Royal Bank of Canada upgraded the stock from a "sector perform" rating to an "outperform" rating, setting a price target of $31.00. JPMorgan Chase & Co. has also adjusted their target, lowering it from $37.00 to $32.00 while maintaining an "overweight" rating. Similarly, Investec upgraded its rating from "hold" to "buy", and Scotiabank moved from a "sector underperform" rating to a "sector perform" rating with a target price of $30.00. Currently, one investment analyst rates the stock as a sell, two analysts suggest holding, while four analysts recommend buying, leading to an average rating of "Hold" and an average price target of $31.75 according to MarketBeat data.

About AngloGold Ashanti

AngloGold Ashanti plc is a gold mining company operating primarily in Africa, Australia, and the Americas. The company mainly focuses on gold exploration, while also producing silver and sulphuric acid as by-products. Its flagship asset is the Geita mine, a fully owned site located in the Lake Victoria goldfields in north-western Tanzania.

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