AngloGold Ashanti (NYSE:AU) Posts Quarterly Earnings Results, Misses Estimates By $0.22 EPS

AngloGold Ashanti (NYSE:AU) released its quarterly earnings data on Friday. The mining company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.22), FiscalAI reports. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.99 billion. AngloGold Ashanti had a net margin of 26.25% and a return on equity of 24.01%.

Here are the key takeaways from AngloGold Ashanti’s conference call:

• Record free cash flow of $2.9 billion in 2025 (Q4 > $1bn) drove adjusted EBITDA +129% and headline earnings +186%, and the board returned a record shareholder payout (Q4 $875m; ~ $1.8–2.0bn total for 2025).
• Balance sheet strengthened to net cash of $879 million with $4.4bn liquidity at year‑end, enabling large dividends while retaining capacity to fund growth and no material near‑term maturities.
• Arthur Gold Project is material — a 4.9Moz initial Merlin reserve (PFS: ~4.5Moz production over 9 years, ~500k oz/yr average), ~ $3.6bn initial capex and >20% returns at PFS, with feasibility starting Q2 2026 and permitting work underway, presenting a potential Tier‑1 long‑life asset.
• 2026 guidance targets 2.8–3.17Moz but raises managed cash costs to $1,335–$1,455/oz (driven by higher royalties, inflation and FX) and requires elevated growth capex (Nevada, Sukari, tailings), which could weigh on near‑term margins despite strong cash generation.

AngloGold Ashanti Stock Up 4.9%

AU traded up $5.27 during trading on Friday, reaching $112.90. 2,254,031 shares of the stock traded hands, compared to its average volume of 2,875,571. The stock’s 50-day simple moving average is $97.16 and its two-hundred day simple moving average is $78.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.58 and a quick ratio of 1.98. AngloGold Ashanti has a fifty-two week low of $28.44 and a fifty-two week high of $115.81. The stock has a market cap of $57.00 billion, a price-to-earnings ratio of 25.05 and a beta of 0.59.

Institutional Investors Weigh In On AngloGold Ashanti

Several large investors have recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new stake in AngloGold Ashanti in the 4th quarter worth $31,000. Garton & Associates Financial Advisors LLC bought a new position in AngloGold Ashanti during the fourth quarter valued at about $34,000. Ancora Advisors LLC bought a new stake in shares of AngloGold Ashanti in the 3rd quarter worth approximately $35,000. Mcguire Capital Advisors Inc. bought a new position in AngloGold Ashanti in the fourth quarter worth $36,000. Finally, Global Retirement Partners LLC increased its holdings in AngloGold Ashanti by 454.1% in the 4th quarter. Global Retirement Partners LLC now owns 471 shares of the mining company’s stock valued at $40,000 after buying an additional 386 shares during the period. Institutional investors own 36.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AU. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AngloGold Ashanti in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Citigroup lifted their price objective on AngloGold Ashanti from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Scotiabank raised their target price on AngloGold Ashanti from $92.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Zacks Research raised AngloGold Ashanti from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

AngloGold Ashanti Company Profile

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.