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Anglogold Ashanti PLC (AU)
NYSE:AU
US Market

Anglogold Ashanti PLC (AU) AI Stock Analysis

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AU

Anglogold Ashanti PLC

(NYSE:AU)

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Outperform 73 (OpenAI - 5.2)
Rating:73Outperform
Price Target:
$110.00
▲(11.62% Upside)
Anglogold Ashanti PLC's strong financial performance is the most significant factor driving the stock's score, supported by robust growth and profitability. The technical analysis indicates bullish momentum, though caution is advised due to potential overbought conditions. Valuation concerns with a high P/E ratio slightly dampen the overall score.
Positive Factors
Strong free cash flow and liquidity
A large, sustained free cash flow surge and an adjusted net cash position materially strengthen financial resilience. Over the medium term this funds dividends, sustaining and growth capex, debt reduction and opportunistic M&A without needing external financing, insulating operations through cycles.
Rising gold production
Material production growth reflects improved operational execution and scale. If maintained, higher output spreads fixed costs, lowers unit costs, and increases cash generation capacity over time, strengthening long-run revenue base and funding for exploration, depletion replacement and project development.
Robust margins and profitability
Consistently strong operating and net margins indicate effective cost control and operational efficiency. Durable margins improve the company's ability to withstand input cost inflation, support reinvestment in mines and exploration, and sustain cash returns to shareholders over multiple commodity cycles.
Negative Factors
High dependence on gold prices
As a pure-play gold producer, AngloGold's revenues and margins remain tightly correlated with gold price movements. Prolonged price weakness or heightened volatility can materially reduce cash flow and profitability, constraining capital allocation, dividend capacity and project economics over the medium term.
Multi-jurisdiction operational risk
A geographically diverse asset base exposes the company to varying fiscal regimes, permitting, political risk and local operating challenges. Regulatory changes, tax or royalty shifts, or permitting delays in key jurisdictions can have lasting impacts on production, costs and project timelines, increasing execution risk.
Shifts in major shareholders and executive sales
Changes in major shareholder stakes and recurring executive share sales can signal shifting investor alignments or governance dynamics. Over time such ownership moves may influence board priorities, capital allocation or strategic direction, and frequent insider sales can complicate perceptions of long-term management alignment.

Anglogold Ashanti PLC (AU) vs. SPDR S&P 500 ETF (SPY)

Anglogold Ashanti PLC Business Overview & Revenue Model

Company DescriptionAngloGold Ashanti Plc operates as a gold mining company in Africa, the Americas, and Australia. Its flagship property is a 100% owned Geita project located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania. The company also explores for silver and sulphuric acid. AngloGold Ashanti Limited was incorporated in 1944 and is headquartered in Johannesburg, South Africa.
How the Company Makes MoneyAngloGold Ashanti generates revenue primarily through the sale of gold produced from its mining operations. The company operates several mines, producing gold in various forms, including doré bars, which are then sold to refineries or directly to the market. Key revenue streams include gold sales, which are influenced by the global gold price, and by-product revenue from other minerals extracted during the mining process. Additionally, the company may generate revenue from joint ventures and partnerships with other mining companies, as well as through strategic investments in exploration projects that could yield future gold production. Factors contributing to its earnings include operational efficiency, cost management, and the prevailing economic conditions affecting gold prices.

Anglogold Ashanti PLC Earnings Call Summary

Earnings Call Date:Nov 07, 2024
(Q3-2024)
|
% Change Since: |
Next Earnings Date:Feb 20, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong financial performance, successful strategic acquisitions, and effective cost management. However, challenges at specific sites and increased group costs due to macroeconomic factors were noted as concerns.
Q3-2024 Updates
Positive Updates
Strong Free Cash Flow Generation
The company generated $347 million in free cash flow in Q3 2024 compared to $20 million in Q3 2023, marking a significant increase and the highest in the company's history at $528 an ounce.
Record Gold Prices
Gold prices reached a new high of $2,685 an ounce in September 2024, contributing to a strong quarterly gain of 13% and a year-to-date gain of 28%.
Successful Centamin Acquisition
The acquisition of Centamin's assets, including the Siguiri mine, was overwhelmingly approved by shareholders, expected to be accretive immediately and add significant production potential.
Cost Management Success
Costs from managed operations were up only 2% year-on-year, well below the 6% inflation rate, demonstrating strong cost control.
Improved Balance Sheet
Adjusted net debt decreased by almost a third to $906 million, with a leverage ratio of 0.37 times, indicating a strong financial position.
Production and Cost Improvements
Australia and Brazil showed strong quarterly performance, with Australia recovering from earlier flooding and Brazil's Cuiabá improving cost efficiency and production.
Negative Updates
Challenges at Obuasi
Obuasi faced persistent ground condition challenges, leading to overbreak, dilution, and significant rework, affecting production volumes.
Kibali Production Struggles
Kibali experienced a soft quarter with lower production due to grade struggles, impacting overall performance.
Higher Group Costs
Total cash costs for the group, including non-managed operations, rose by 8% year-on-year to $1,172 per ounce, reflecting increased macroeconomic pressures.
Hedging Losses
The company experienced a realized loss of $25 million in Q3 2024 due to zero cost collar positions against the high costs and uncertainty in Brazil.
Company Guidance
During AngloGold Ashanti's Q3 2024 earnings call, the company maintained its guidance across all metrics, highlighting a strong financial performance amid industry challenges. Notably, the company reported a 339% year-on-year increase in adjusted EBITDA to $746 million, and a significant rise in free cash flow to $347 million, equating to $528 per ounce, the highest in its history. Despite a 6% realized inflation rate, cost management strategies kept managed operations costs up by only 2% year-on-year. The acquisition of Centamin's Siguiri North Africa gold mine is expected to enhance production and cost profiles, contributing annual production of around 0.5 million ounces at an all-in sustaining cost below $1,200 per ounce. The company's balance sheet remains robust with $2.6 billion in liquidity and adjusted net debt reduced by nearly a third to $906 million, maintaining leverage at 0.37 times adjusted EBITDA.

Anglogold Ashanti PLC Financial Statement Overview

Summary
Anglogold Ashanti PLC demonstrates strong financial performance across all verticals. The income statement reflects robust growth and profitability, the balance sheet shows financial stability with manageable leverage, and the cash flow statement highlights strong cash generation. Overall, the company is well-positioned financially, with a positive outlook for continued growth and stability.
Income Statement
85
Very Positive
Anglogold Ashanti PLC shows strong revenue growth with a 12.11% increase in TTM, indicating robust demand. The gross profit margin improved to 42.95%, reflecting efficient cost management. Net profit margin is healthy at 23.60%, showcasing profitability. EBIT and EBITDA margins are strong at 37.12% and 42.63%, respectively, indicating operational efficiency. Overall, the income statement reflects a positive growth trajectory and profitability.
Balance Sheet
78
Positive
The company maintains a stable debt-to-equity ratio of 0.31, indicating moderate leverage. Return on equity is impressive at 28.94%, reflecting effective use of equity to generate profits. The equity ratio stands at 51.82%, suggesting a solid equity base. Overall, the balance sheet shows financial stability with a strong equity position and manageable debt levels.
Cash Flow
82
Very Positive
Free cash flow growth is substantial at 41.32%, indicating strong cash generation capabilities. The operating cash flow to net income ratio of 2.26 suggests efficient cash conversion. Free cash flow to net income ratio is healthy at 0.59, reflecting good cash flow management. The cash flow statement highlights strong cash generation and effective cash management.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue8.57B5.79B4.58B4.50B4.03B4.59B
Gross Profit4.00B2.07B1.03B1.13B1.17B1.75B
EBITDA3.73B2.58B872.00M1.25B1.23B2.36B
Net Income2.25B1.00B-235.00M233.00M614.00M1.01B
Balance Sheet
Total Assets14.84B13.16B8.18B8.01B8.01B7.67B
Cash, Cash Equivalents and Short-Term Investments2.55B1.43B964.00M1.11B1.15B1.37B
Total Debt2.31B2.15B2.42B2.17B2.09B2.08B
Total Liabilities5.28B4.64B4.43B3.94B3.91B3.93B
Stockholders Equity7.69B6.63B3.71B4.04B4.05B3.69B
Cash Flow
Free Cash Flow2.52B878.00M-71.00M257.00M196.00M952.00M
Operating Cash Flow3.85B1.97B971.00M1.80B1.22B1.69B
Investing Cash Flow-959.00M-762.00M-897.00M-1.56B-1.01B-514.00M
Financing Cash Flow-1.54B-727.00M-87.00M-224.00M-345.00M-329.00M

Anglogold Ashanti PLC Technical Analysis

Technical Analysis Sentiment
Positive
Last Price98.55
Price Trends
50DMA
84.03
Positive
100DMA
75.21
Positive
200DMA
60.05
Positive
Market Momentum
MACD
3.98
Negative
RSI
68.07
Neutral
STOCH
89.64
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU, the sentiment is Positive. The current price of 98.55 is above the 20-day moving average (MA) of 90.49, above the 50-day MA of 84.03, and above the 200-day MA of 60.05, indicating a bullish trend. The MACD of 3.98 indicates Negative momentum. The RSI at 68.07 is Neutral, neither overbought nor oversold. The STOCH value of 89.64 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU.

Anglogold Ashanti PLC Risk Analysis

Anglogold Ashanti PLC disclosed 1 risk factors in its most recent earnings report. Anglogold Ashanti PLC reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Anglogold Ashanti PLC Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
81
Outperform
$124.57B17.7422.84%0.95%26.25%
79
Outperform
$44.92B23.6535.09%1.51%49.62%195.39%
77
Outperform
$14.04B17.0232.05%0.87%29.08%72.12%
76
Outperform
$21.45B34.8514.90%0.77%28.11%66.85%
73
Outperform
$50.24B42.632.82%26.43%
68
Neutral
$13.33B31.1119.57%72.94%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU
Anglogold Ashanti PLC
98.55
72.57
279.33%
CDE
Coeur Mining
21.22
15.04
243.37%
GFI
Gold Fields
49.84
34.91
233.71%
HMY
Harmony Gold Mining
21.95
12.28
126.92%
NEM
Newmont Mining
114.21
73.23
178.70%
RGLD
Royal Gold
259.15
121.93
88.86%

Anglogold Ashanti PLC Corporate Events

AngloGold Ashanti Discloses Slight Reduction in VanEck Shareholding Below 4% Threshold
Dec 23, 2025

On 18 December 2025, investment manager Van Eck Associates Corporation marginally reduced its holding in AngloGold Ashanti, triggering a regulatory disclosure after its voting interest slipped below a key threshold. Van Eck’s aggregated funds, including several VanEck gold, mining and Africa-focused ETFs, now control 20,069,032 AngloGold Ashanti shares, representing 3.98% of the company’s 504,097,915 voting rights, down from 4.01%, a small change that nonetheless signals ongoing portfolio adjustments by a prominent institutional shareholder and offers investors a fresh data point on the miner’s evolving ownership profile.

The most recent analyst rating on (AU) stock is a Buy with a $92.00 price target. To see the full list of analyst forecasts on Anglogold Ashanti PLC stock, see the AU Stock Forecast page.

AngloGold Ashanti Discloses VanEck Stake Increase Above 4% Threshold
Dec 19, 2025

On 16 December 2025, AngloGold Ashanti plc reported a change in its shareholder base after receiving a major holdings notification from Van Eck Associates Corporation, a U.S.-based asset manager. The filing shows that Van Eck’s aggregate direct voting interest in AngloGold Ashanti rose slightly from 3.99% to 4.01%, equivalent to 20,214,785 voting rights out of 504,097,915 shares in issue, with the position held across several VanEck exchange-traded funds and funds focused on gold, mining, natural resources and Africa. This incremental crossing of the 4% threshold underscores steady institutional interest in AngloGold Ashanti’s stock from specialist resource and gold investment vehicles, and signals modest but continued support from a prominent sector-focused shareholder.

The most recent analyst rating on (AU) stock is a Buy with a $92.00 price target. To see the full list of analyst forecasts on Anglogold Ashanti PLC stock, see the AU Stock Forecast page.

AngloGold Ashanti Executive Officer Sells Shares to Cover Tax Liability
Dec 15, 2025

On December 12, 2025, AngloGold Ashanti plc announced that Stewart Bailey, an Executive Officer, engaged in transactions involving the company’s securities. Bailey received 19,196 ordinary shares through the 2023 Deferred Share Plans and subsequently sold them on the market to address tax liabilities related to these awards. This transaction reflects the company’s ongoing management of executive compensation and its implications for shareholder value.

The most recent analyst rating on (AU) stock is a Buy with a $92.00 price target. To see the full list of analyst forecasts on Anglogold Ashanti PLC stock, see the AU Stock Forecast page.

AngloGold Ashanti Executive Director Sells Shares in December 2025
Dec 12, 2025

On December 10, 2025, AngloGold Ashanti plc announced that its Executive Director, Alberto Calderon, conducted an on-market sale of 40,148 ordinary shares at an average price of US$79.78531 per share, totaling approximately US$3.2 million. Despite this transaction, Calderon retains a significant holding in the company, with 338,849 shares and share incentive awards, along with 253,965 shares under the Performance Share Plan yet to vest. This transaction reflects ongoing executive dealings in company securities, which may influence market perceptions and stakeholder interests.

The most recent analyst rating on (AU) stock is a Buy with a $105.00 price target. To see the full list of analyst forecasts on Anglogold Ashanti PLC stock, see the AU Stock Forecast page.

AngloGold Ashanti Executives Sell Shares in December 2025
Dec 5, 2025

On December 3, 2025, AngloGold Ashanti PLC announced that its executive officers, Marcelo Godoy and Lizelle Marwick, sold a portion of their shares in the company. Marcelo Godoy sold 19,148 shares at an average price of US$83.89551, while Lizelle Marwick sold 25,000 shares at an average price of US$84.59941. Despite the sales, both executives retain substantial holdings in the company, which reflects their continued confidence in AngloGold Ashanti’s future prospects. This transaction highlights the ongoing strategic decisions by the company’s leadership, which could influence investor perceptions and market dynamics.

The most recent analyst rating on (AU) stock is a Buy with a $131.00 price target. To see the full list of analyst forecasts on Anglogold Ashanti PLC stock, see the AU Stock Forecast page.

AngloGold Ashanti Executive Director Sells Shares Amidst Market Activity
Nov 26, 2025

On November 24, 2025, AngloGold Ashanti PLC announced that its Executive Director, Gillian Doran, executed an on-market sale of 22,033 ordinary shares at an average price of US$82.47271, totaling approximately US$1.82 million. Despite the sale, Ms. Doran retains a significant holding in the company, including 51,271 shares and additional shares under a performance plan. This transaction reflects ongoing executive-level dealings in the company’s securities, possibly impacting investor perceptions and market dynamics.

The most recent analyst rating on (AU) stock is a Buy with a $85.00 price target. To see the full list of analyst forecasts on Anglogold Ashanti PLC stock, see the AU Stock Forecast page.

AngloGold Ashanti Announces Change in Major Shareholder Holdings
Nov 26, 2025

On November 24, 2025, AngloGold Ashanti PLC announced a change in major shareholder holdings, as Van Eck Associates Corporation reduced its voting rights from 4.990% to 3.990%. This adjustment, which occurred on November 21, 2025, indicates a shift in the company’s shareholder structure, potentially impacting its governance and strategic decisions.

The most recent analyst rating on (AU) stock is a Buy with a $85.00 price target. To see the full list of analyst forecasts on Anglogold Ashanti PLC stock, see the AU Stock Forecast page.

AngloGold Ashanti Reports Record Q3 2025 Earnings and Cash Flow Surge
Nov 12, 2025

In its Q3 2025 earnings release, AngloGold Ashanti reported a 141% increase in free cash flow year-on-year, reaching a record $920 million, driven by a 17% rise in gold production and a 40% increase in the average gold price received per ounce. The company declared a quarterly dividend of $460 million, reflecting strong cash generation and cost discipline, and reaffirmed its annual guidance for 2025. The company’s balance sheet was strengthened, moving to an adjusted net cash position of $450 million, with liquidity of $3.9 billion. The company maintained a strong safety performance and continued operational improvements, particularly at Obuasi and Sukari, despite inflationary pressures.

The most recent analyst rating on (AU) stock is a Buy with a $89.00 price target. To see the full list of analyst forecasts on Anglogold Ashanti PLC stock, see the AU Stock Forecast page.

AngloGold Ashanti Reports Increased Q3 2025 Gold Production
Nov 12, 2025

AngloGold Ashanti PLC released its operating statistics for the third quarter and nine months ending September 30, 2025. The report highlights a notable increase in gold production from its managed operations in Africa, with a rise from 301,000 ounces in Q3 2024 to 428,000 ounces in Q3 2025. This growth reflects the company’s strategic focus on enhancing production efficiency and expanding its operational footprint, which could positively impact its market positioning and stakeholder value.

The most recent analyst rating on (AU) stock is a Buy with a $89.00 price target. To see the full list of analyst forecasts on Anglogold Ashanti PLC stock, see the AU Stock Forecast page.

AngloGold Ashanti Releases Q3 2025 Earnings Report
Nov 12, 2025

On November 12, 2025, AngloGold Ashanti PLC released its Q3 2025 earnings report, highlighting the company’s financial performance and strategic initiatives. The report provides insights into the company’s operational efficiency and market positioning, which are crucial for stakeholders to assess its future prospects and industry standing.

The most recent analyst rating on (AU) stock is a Buy with a $89.00 price target. To see the full list of analyst forecasts on Anglogold Ashanti PLC stock, see the AU Stock Forecast page.

AngloGold Ashanti Announces Shareholder Voting Rights Change
Nov 12, 2025

On November 11, 2025, AngloGold Ashanti PLC announced a change in its major shareholders, with the Public Investment Corporation SOC Limited reducing its voting rights from 16.355% to 15.671%. This adjustment reflects a shift in the company’s shareholder structure, potentially impacting its governance dynamics and stakeholder interests.

The most recent analyst rating on (AU) stock is a Buy with a $89.00 price target. To see the full list of analyst forecasts on Anglogold Ashanti PLC stock, see the AU Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 27, 2025