AU
Anglogold AshantiBDocument history
Earnings documents stored for AU.
Investor releaseQuarter not tagged2026-05-13AngloGold Ashanti Q1 Earnings Beat Estimates on Higher Gold Prices
Zacks
AngloGold Ashanti Q1 Earnings Beat Estimates on Higher Gold Prices
AngloGold Ashanti plc AU delivered earnings of $2.52 per share for the first quarter of 2026, skyrocketing 186% from the year-ago period and beating the Zacks Consensus Estimate of $2.21 by 14%. Quarterly revenues came in at $3.15 billion, surging 63.7% year over year but missing the Zacks Consensus Estimate of $3.34 billion by 5.5%. AngloGold Ashanti PLC price-consensus-eps-surprise-chart | AngloGold Ashanti PLC Quote AU’s gold production was 724,000 ounces in the first quarter, marking a year-over-year increase of 1%. The upside was driven by 10% year-over-year growth in Geita mine’s gold production. Strong performances at Cuiabá, Obuasi, Iduapriem, Cerro Vanguardia and Tropicana also aided the upside. However, Sunrise Dam’s production declined year over year due to equipment issues and lower grades, while Kibali’s attributable production fell as mined grades and equipment availability weighed on output. Total cash costs for the group increased to $1,391 per ounce in the quarter, up 14% year over year, driven largely by higher gold price-linked royalties, inflationary pressures in labor and contractor costs and foreign exchange movements. All-in sustaining costs rose 19% to $1,955 per ounce, reflecting higher sustaining capital and the same macro-driven cost headwinds. AngloGold Ashanti posted a record free cash flow of $1.169 billion in the quarter, supported by stronger operating cash generation and an elevated realized gold-price environment. Net cash flow from operating activities rose to $1.709 billion, up 13% year over year, reflecting the stronger revenue base and contributions from joint ventures. The company’s average gold prices received rose to $4,863 per ounce from $2,874 per ounce in the prior-year quarter. This translated into materially stronger profitability and cash conversion despite higher operating costs. EBITDA increased 130% year over year to $2.291 billion, highlighting the leverage to gold pricing in the quarter’s financial profile. AU declared an interim dividend of 116 cents per share for the quarter, equating to $585 million in shareholder distributions. The payout reflected the company’s capital return framework, which links the total dividend to a targeted payout of free cash flow while maintaining a conservative leverage profile. The company also announced a proposed share repurchase program of up to $2 billion, subject to sha...
Investor releaseQuarter not tagged2026-05-12Stocks Settle Higher on Strong Earnings
Barchart
Stocks Settle Higher on Strong Earnings
The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.19%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.29%. June E-mini S&P futures (ESM26) rose +0.18%, and June E-mini Nasdaq futures (NQM26) rose +0.28%. Stock indexes settled higher on Monday, with the S&P 500 and Nasdaq 10 posting new all-time highs amid strong corporate earnings results and resurgent optimism around artificial intelligence. Strength in chipmakers and AI-infrastructure stocks led the broader market higher on Monday. Gains in stocks were limited on Monday amid rising oil prices and bond yields after the US and Iran failed to reach terms to end the war in the Middle East. Global bond yields rose on concern that the continued standoff will keep energy prices elevated and could force the world’s central banks to tighten monetary policy. The 10-year T-note yield rose +5 bp to 4.41%. Dear D-Wave Quantum Stock Fans, Mark Your Calendars for May 12 Berkshire Hathaway Just Upped Its Stake in Sumitomo Stock. Greg Abel Says It’s Holding for the Long Term. This Analyst Just Raised the Price Target on Coherent Stock by 50%. What to Know. Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! In the latest developments in the Middle East, President Trump and Iran rejected each other's latest peace proposals to end the 10-week conflict. Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities. Iran also demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through the Strait of Hormuz. Despite the ceasefire in place since last month, a drone strike over the weekend set a cargo vessel ablaze off Qatar in the Persian Gulf. Also, the United Arab Emirates and Kuwait both said they intercepted hostile drones. Monday’s US economic news was slightly weaker than expected after Apr existing home sales rose +0.2% m/m to 4.02 million, below expectations of 4.05 million. Chinese trade news was better than expected, a positive factor for global growth. China Apr exports rose +14.1% y/y, stronger than expectations of +8.4% y/y. Apr imports rose +25.3% y/y, stro...
Investor releaseQuarter not tagged2026-05-11Strong Earnings and AI Optimism Push the S&P 500 and Nasdaq 100 to Record Highs
Barchart
Strong Earnings and AI Optimism Push the S&P 500 and Nasdaq 100 to Record Highs
The S&P 500 Index ($SPX) (SPY) today is up +0.17%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.06%. June E-mini S&P futures (ESM26) are up +0.19%, and June E-mini Nasdaq futures (NQM26) are up +0.05%. Stock indexes are moving higher today, with the S&P 500 and Nasdaq 10 posting new all-time highs amid strong corporate earnings results and resurgent optimism around artificial intelligence. Gains in stocks are limited today amid rising oil prices and bond yields after the US and Iran failed to reach terms to end the war in the Middle East. Global bond yields rose on concern that the continued standoff will keep energy prices elevated and could force the world’s central banks to tighten monetary policy. The 10-year T-note yield is up +3 bp to 4.39%. Broadcom Hits a Bottleneck as OpenAI Revenue Concerns Claim Their First Casualty Palantir Stock Has a ‘High-Class Problem’: Demand for Its Software Is Far Outpacing Supply Dan Ives Can’t Make It Any Clearer: Palantir Stock Is Still a ‘Golden Goose’ Despite Q1 Earnings Fears Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. In the latest developments in the Middle East, President Trump and Iran rejected each other's latest peace proposals to end the 10-week conflict. Iran offered to transfer some of its stockpile of highly enriched uranium to a third country but rejected the idea of dismantling its nuclear facilities. Iran also demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through the Strait of Hormuz. Despite the ceasefire in place since last month, a drone strike over the weekend set a cargo vessel ablaze off Qatar in the Persian Gulf. Also, the United Arab Emirates and Kuwait both said they intercepted hostile drones. Chinese trade news was better than expected, a positive factor for global growth. China Apr exports rose +14.1% y/y, stronger than expectations of +8.4% y/y. Apr imports rose +25.3% y/y, stronger than expectations of 20.0% y/y. WTI crude oil prices (CLM26) are up by more than 2% today, as optimism that the US and Iran would reopen the Strait of Hormuz was dashed after President Trump said Iran's latest peace proposals were "totally unacceptable." The strait remains essentially closed, as abo...
Investor releaseQuarter not tagged2026-05-11Stocks Supported by Strong Earnings and AI Optimism
Barchart
Stocks Supported by Strong Earnings and AI Optimism
The S&P 500 Index ($SPX) (SPY) today is up +0.25%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.17%. June E-mini S&P futures (ESM26) are up +0.29%, and June E-mini Nasdaq futures (NQM26) are up +0.19%. Stock indexes are moving higher today, with the S&P 500 and Nasdaq 100 posting new all-time highs amid strong corporate earnings results and resurgent optimism around artificial intelligence. Gains in stocks are limited today amid rising oil prices and bond yields after the US and Iran failed to reach terms to end the war in the Middle East. Global bond yields rose on concern that the continued standoff will keep energy prices elevated and could force the world’s central banks to tighten monetary policy. The 10-year T-note yield is up +3 bp to 4.39%. Broadcom Hits a Bottleneck as OpenAI Revenue Concerns Claim Their First Casualty Dan Ives Can’t Make It Any Clearer: Palantir Stock Is Still a ‘Golden Goose’ Despite Q1 Earnings Fears Palantir Stock Has a ‘High-Class Problem’: Demand for Its Software Is Far Outpacing Supply Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. In the latest developments in the Middle East, President Trump and Iran rejected each other's latest peace proposals to end the 10-week conflict. Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities. Iran also demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through the Strait of Hormuz. Despite the ceasefire in place since last month, a drone strike over the weekend set a cargo vessel ablaze off Qatar in the Persian Gulf. Also, the United Arab Emirates and Kuwait both said they intercepted hostile drones. Today’s US economic news was slightly weaker than expected after Apr existing home sales rose +0.2% m/m to 4.02 million, below expectations of 4.05 million. Chinese trade news was better than expected, a positive factor for global growth. China Apr exports rose +14.1% y/y, stronger than expectations of +8.4% y/y. Apr imports rose +25.3% y/y, stronger than expectations of 20.0% y/y. WTI crude oil prices (CLM26) are up by more than 2% today, as optimism that the US an...
Investor releaseQuarter not tagged2026-05-09Stocks Finish Higher on Solid Earnings and a Resilient Labor Market
Barchart
Stocks Finish Higher on Solid Earnings and a Resilient Labor Market
The S&P 500 Index ($SPX) (SPY) on Friday closed up +0.84%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.02%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +2.35%. June E-mini S&P futures (ESM26) rose +0.79%, and June E-mini Nasdaq futures (NQM26) rose +2.37%. Stock indexes settled higher on Friday, with the S&P 500 and Nasdaq 100 posting new record highs. Chipmaker and AI-infrastructure stocks led the overall market higher on Friday, offsetting concerns about the Iran war. Stronger-than-expected corporate earnings are pushing stocks higher. Weakness in software stocks on Friday weighed on the Dow Jones Industrial Average. As CPUs Steal the Show, AMD Stock Just Got a New Street-High Price Target How Intel Stock Could Be the Biggest Winner from AMD’s Explosive Earnings Win Cathie Wood Dumps More AMD Shares Despite Its Massive 108% Rally. Here's Why. Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Stock indexes also found support today on signs of resiliency in the US labor market after April nonfarm payrolls rose more than expected and March nonfarm payrolls were revised upward. Stocks rallied on Friday despite a larger-than-expected decline in US consumer sentiment to a record low. US Apr nonfarm payrolls rose by +115,000, stronger than expectations of +65,000, and Mar nonfarm payrolls were revised upward to +185,000 from the previously reported +178,000. The Apr unemployment rate was unchanged at 4.3%, right on expectations. US Apr average hourly earnings rose +0.2% m/m and +3.6% y/y, weaker than expectations of +0.3% m/m and +3.8% y/y. The University of Michigan’s US May consumer sentiment index fell -1.6 to a record low of 48.2 (data from 1978), weaker than expectations of 49.5. The University of Michigan US May 1-year inflation expectations rate unexpectedly eased to +4.5% from +4.7% in Apr, weaker than expectations of an increase to 4.8%. The May 5-10 year inflation expectations rate unexpectedly eased to +3.4%, weaker than expectations of no change at +3.5%. In the latest developments in the Middle East, Iran's semi-official Tasnim news agency said Iran seized an oil tanker on Friday in the Strait of Hormuz for "attempting to disrupt oil exports and the interests of the Iranian nation." Also, US forces targeted missile and drone launch sites and other milita...
Investor releaseQuarter not tagged2026-05-08AngloGold Ashanti Q1 31 March 2026 Earnings Release and Dividend Declaration
Business Wire
AngloGold Ashanti Q1 31 March 2026 Earnings Release and Dividend Declaration
AngloGold Ashanti delivers record free cash flow* of $1.2bn and EBITDA*(4) of $2.3bn • Gold production(1)(2) +1% • Net cash*(4) of $868m • Q1 2026 interim dividend of $585m, or 116 cps • Proposed $2.0bn share repurchase programme announced LONDON & DENVER & JOHANNESBURG, May 08, 2026--(BUSINESS WIRE)--AngloGold Ashanti plc ("AngloGold Ashanti", "AGA", the "Company" or the "Group") posted record free cash flow* of $1.2bn in Q1 2026, almost triple the Q1 2025 amount, following steady performances from most of its operating assets and the continued high gold price. The Company remains on track to meet its 2026 annual guidance. An interim dividend for Q1 2026 was declared of $585m, or 116 US cents per share, a new record, compared to 12.5 US cents per share declared in Q1 2025. On 7 May 2026, the Board of Directors approved a proposed share repurchase programme for AngloGold Ashanti’s ordinary shares of up to $2.0bn, subject to shareholder approval. "Our focus remains to control what we can control - managing underlying costs and ensuring safe, predictable operating results," said CEO Alberto Calderon. "That has again enabled us to deliver record free cash flow* and cash returns to our shareholders, while moving our organic growth projects forward." AngloGold Ashanti continues to focus on a series of key strategic initiatives: delivery of predictable operating results; providing competitive returns to shareholders; bringing a large, new production centre into operation in southern Nevada; the steady ramp-up of its Obuasi mine in Ghana; and realising a series of organic growth projects at its mines in Tanzania, Guinea, Egypt and Brazil. Safety performance and workplace fatality At Obuasi, following the end of Q1 2026 on 24 April 2026, a contractor was fatally injured following a release of waste material from an underground ore pass. A comprehensive investigation into the incident is underway, with the express aim of ensuring that similar incidents do not occur in the future. The family and colleagues affected by this tragedy are receiving ongoing support. "We are heartbroken by the loss of our colleague and offer our deepest sympathy to his family and loved ones," said CEO Alberto Calderon. "Safety has always been our first and highest priority and we will ensure we understand the root cause of this incident and apply every lesson learned." During Q1 2026, safet...
Investor releaseQuarter not tagged2026-05-08AngloGold Ashanti Hikes Shareholder Payouts as Earnings Soar on Higher Gold Prices
The Wall Street Journal
AngloGold Ashanti Hikes Shareholder Payouts as Earnings Soar on Higher Gold Prices
Higher prices helped the miner deliver a jump in earnings, with record free cash flow enabling an up to $2 billion share buyback and higher dividend.
Investor releaseQuarter not tagged2026-05-06Results of AngloGold Ashanti plc's 2026 Annual General Meeting
Business Wire
Results of AngloGold Ashanti plc's 2026 Annual General Meeting
LONDON & DENVER & JOHANNESBURG, May 06, 2026--(BUSINESS WIRE)--AngloGold Ashanti plc (the "Company") (NYSE: AU; JSE: ANG) held its 2026 Annual General Meeting ("2026 AGM") at 9:00am (Mountain Daylight Time) on Tuesday 5 May 2026, and today announces the results of the poll vote for each resolution set out in the Notice of AGM published on 26 March 2026 (the "AGM Notice"). The full text of the resolutions proposed at the AGM is included in the AGM Notice. All of the resolutions were passed as ordinary resolutions. A copy of the poll results for the 2026 AGM, along with the AGM Notice, is available on the Company’s website at www.anglogoldashanti.com. On Friday, 13 March 2026, the record date as set out in the AGM Notice, there were 505,577,721 ordinary shares in issue. Shareholders are entitled to one vote per share on a poll. JSE Sponsor: The Standard Bank of South Africa Limited View source version on businesswire.com: https://www.businesswire.com/news/home/20260506752614/en/ Contacts Media Andrea Maxey +61 8 9425 4603 / +61 400 072 199 [email protected] General inquiries [email protected] Investors Yatish Chowthee +27 11 637 6273 / +27 78 364 2080 [email protected] Andrea Maxey +61 8 9425 4603 / +61 400 072 199 [email protected] Website: www.anglogoldashanti.com
Investor releaseQuarter not tagged2026-05-06How to Play AngloGold Ashanti Stock Ahead of Its Q1 Earnings Release?
Zacks
How to Play AngloGold Ashanti Stock Ahead of Its Q1 Earnings Release?
AngloGold Ashanti PLC AU is slated to report first-quarter 2026 results on May 8, before market open. AU is expected to have seen a year-over-year improvement in earnings in the quarter, aided by upbeat gold prices and higher production numbers. The Zacks Consensus Estimate for AU’s first-quarter 2025 earnings has moved 0.9% north over the past 60 days at $2.21 per share. The consensus mark indicates a 151% upsurge from the year-ago actual. Image Source: Zacks Investment Research The Zacks Consensus Estimate for AngloGold Ashanti’s first-quarter total sales is pegged at $3.34 billion, indicating a 73.2% increase from the year-ago quarter’s actual. The company has a trailing four-quarter negative earnings surprise of 2.02%, on average. Our proven model does not conclusively predict an earnings beat for AngloGold Ashanti this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, but that is not the case here. Earnings ESP: AU has an Earnings ESP of 0.00%. You can uncover the best stocks before they are reported with our Earnings ESP Filter. Zacks Rank: The company currently has a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here. AU is likely to have delivered a strong performance in the first quarter of 2026, building on the robust momentum seen in 2025. AngloGold Ashanti reported a 7% year-over-year increase in gold production to 799,000 ounces in the fourth quarter of 2025, driven by strong contributions from the Sukari mine. The upside was also fueled by solid performances from key assets like Obuasi, Siguiri and Cuiabá. Obuasi delivered a strong year-over-year increase of 20%, driven by grade improvement and steady production ramp-up. Siguiri saw a 15% rise in production on recovered grades. This momentum is expected to have continued in the first quarter and led to year-over-year higher production numbers. However, AU has been facing headwinds from higher operating costs for the last few quarters. The upside was due to inflationary cost pressures from increased labor and mining contractor costs. Nonetheless, the impacts of these elevated costs on its earnings were offset by higher sales volumes and prices. In the January-March period, gold prices remained elevated, supported by uncertainty regarding U.S trade and tariff polici...
Investor releaseQuarter not tagged2026-04-24CGAU is Set to Report Q1 Earnings: Buy, Sell or Hold the Stock?
Zacks
CGAU is Set to Report Q1 Earnings: Buy, Sell or Hold the Stock?
Centerra Gold Inc. CGAU is slated to come up with first-quarter 2026 results after market close on April 29. The company’s results are expected to reflect continued operational momentum underpinned by stable production from core assets like Mount Milligan and Öksüt Mine, along with a supportive gold price environment. However, the performance may have been tempered by cost inflation, coupled with operational sensitivities around ore grades, recoveries and mine sequencing at Mount Milligan, and leach kinetics at Öksüt. This comes alongside a near-term disruption following the January explosion at the Langeloth Facility, with the extent of downtime and its impact on cash flow. The Zacks Consensus Estimate for first-quarter earnings has been going up in the past 30 days. The consensus estimate for earnings is pegged at 41 cents per share, suggesting a 241.7% year-over-year rise. Image Source: Zacks Investment Research CGAU beat the Zacks Consensus Estimate for earnings in each of the last four quarters, with the average earnings surprise being 29.4%. Image Source: Zacks Investment Research Our proven model predicts an earnings beat for CGAU this season. This is because it has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold), which increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. CGAU has an Earnings ESP of +6.97% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here. CGAU’s performance is building directly on the operational momentum and cost profile seen in the previous quarter. In the fourth quarter of 2025, Centerra Gold showed steady operating execution and healthy financial performance. The company reported adjusted earnings per share of 41 cents and revenue of $401.6 million. Gold sales were 68,143 ounces and copper volumes reached about 12.5 million pounds. This performance was driven by consistent output from Mount Milligan and Öksüt. The period saw a rise in all-in sustaining costs (AISC), which came in around $1,646 per ounce. These higher sustaining costs were driven by mine sequencing, sustaining capital intensity (including tailings, equipment upgrades and site development) and inflationary inputs, such as fuel, labor and consumables. Building on this momentum, the fi...
Investor releaseQuarter not tagged2026-04-14AngloGold Ashanti Holdings plc Announces Early Results of Capped Cash Tender Offers for Part of Its 3.375% Notes Due 2028, 3.750% Notes Due 2030 and 6.500% Notes Due 2040
Business Wire
AngloGold Ashanti Holdings plc Announces Early Results of Capped Cash Tender Offers for Part of Its 3.375% Notes Due 2028, 3.750% Notes Due 2030 and 6.500% Notes Due 2040
LONDON & DENVER & JOHANNESBURG, April 14, 2026--(BUSINESS WIRE)--AngloGold Ashanti Holdings plc (the "Offeror"), a company incorporated under the laws of the Isle of Man, announces today the early results of the previously announced capped cash tender offers that the Offeror commenced on March 30, 2026 (the "Offers"), for up to $650,000,000 aggregate purchase price (exclusive of Accrued Interest), for part of its outstanding (i) $750,000,000 3.375% notes due 2028 (the "2028 Notes"), (ii) $700,000,000 3.750% notes due 2030 (the "2030 Notes") and (iii) $300,000,000 6.500% notes due 2040 (the "2040 Notes" and together with the 2028 Notes and the 2030 Notes, the "Notes"), issued by the Offeror and guaranteed by AngloGold Ashanti plc, a company incorporated under the laws of England and Wales ("AGA"). The terms and conditions of the Offers are described in an offer to purchase dated March 30, 2026 (the "Offer to Purchase"). Capitalized terms not otherwise defined in this announcement have the same meaning as assigned to them in the Offer to Purchase. As of April 13, 2026 at 5:00 p.m. (New York City time) (the "Early Tender Time"), as reported by Kroll Issuer Services Limited, the Information & Tender Agent for the Offers, the principal amounts of the Notes listed in the table below had been validly tendered and not validly withdrawn: The amount of each series of Notes to be purchased in the Offers on the Early Settlement Date will be determined in accordance with the Acceptance Priority Level specified in the table above, with 1 being the highest Acceptance Priority Level and 3 being the lowest Acceptance Priority Level, subject to the Aggregate Cap, the Sub-Cap and the proration arrangements described in more detail in the Offer to Purchase. The Total Consideration and the Late Tender Offer Consideration for each series of Notes accepted for purchase will be determined based on the formula set out in the Offer to Purchase on April 14, 2026 at 10:00 a.m., New York City time. The Total Consideration and Late Tender Offer Consideration for each series of Notes, together with the aggregate principal amount of validly tendered Notes of each series that is accepted for purchase and details of the applicable proration, will be announced by a separate release later on April 14, 2026. The Early Settlement Date is expected to be April 16, 2026. The Withdrawal Deadline was...
Investor releaseQuarter not tagged2026-03-06AngloGold Ashanti (AU) Valuation Check After Strong Earnings And Higher Dividend Announcement
Simply Wall St.
AngloGold Ashanti (AU) Valuation Check After Strong Earnings And Higher Dividend Announcement
Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. AngloGold Ashanti (AU) is drawing attention after reporting fourth quarter net income of US$855 million and full year net income of US$2.64b, alongside an interim dividend of US$1.73 per share. Investors are weighing how these earnings and cash returns line up with the company’s recent share price performance and gold production levels, and what that balance might mean for the stock’s risk and reward profile. See our latest analysis for AngloGold Ashanti. Those earnings and dividend headlines landed after a strong run, with a 30 day share price return of 19.28% and a 90 day share price return of 35.69%. The 1 year total shareholder return is very large, hinting that momentum has been building rather than fading. If you are looking beyond one gold producer, this could be a good moment to scan other precious metal names. You can use our list of 27 elite gold producer stocks as a starting point. With AngloGold Ashanti trading near its recent highs, reporting full-year net income of US$2.64b and declaring an interim dividend of US$1.73 per share, is there still value available or has the market already fully reflected these results? Against the latest close of $113.14, the most followed narrative puts AngloGold Ashanti’s fair value at $98, suggesting the market is running ahead of that view. Read the complete narrative. Want to see how a richer future earnings multiple lines up with faster revenue growth and slimmer margins, all under a higher discount rate? The narrative stitches those moving parts into one number, and the tension between them is where the real story sits. Result: Fair Value of $98 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, higher mining costs and shifting royalty or tax regimes could quickly squeeze margins and challenge the earnings assumptions behind that 15.4% overvaluation call. Find out about the key risks to this AngloGold Ashanti narrative. That $98 fair value from the narrative sits uncomfortably next to our DCF view. The SWS DCF model puts AngloGold Ashanti’s future cash flows at about $274.16 per share, which is far above the current $113.14 price and points to a very different story on upside and risk. Which version do you think is closer to reality? Look...

