AngloGold Ashanti (NYSE:AU) Posts Quarterly Earnings Results, Meets Expectations

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

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 Performance

NYSE AU opened at $114.38 on Friday. The stock has a 50-day simple moving average of $97.79 and a two-hundred day simple moving average of $79.36. The firm has a market capitalization of $57.75 billion, a P/E ratio of 22.04 and a beta of 0.59. AngloGold Ashanti has a fifty-two week low of $28.44 and a fifty-two week high of $115.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.98 and a current ratio of 2.58.

AngloGold Ashanti Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.173 per share. This represents a $0.69 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, March 13th. AngloGold Ashanti’s dividend payout ratio (DPR) is currently 70.13%.

Key Headlines Impacting AngloGold Ashanti

Here are the key news stories impacting AngloGold Ashanti this week:

• Positive Sentiment: AngloGold expanded its Nevada footprint via the Augusta deal and emphasized growth in the U.S., supporting longer‑term production optionality and investor confidence. AngloGold Ashanti Expands Nevada Footprint With Augusta Deal And Growth Focus
• Positive Sentiment: AngloGold led a C$44M strategic investment in Thesis Gold (with participation by Centerra), expanding its exposure to early‑stage exploration upside and signalling willingness to back pipeline deals. Thesis Gold Announces Strategic Investment by AngloGold Ashanti
• Positive Sentiment: Research pieces are highlighting AU as a low‑beta and dividend‑yield candidate, making it attractive to defensive and income‑seeking investors amid market volatility. That increases demand from portfolio managers seeking stability. Best Low-Beta Stocks to Own Right Away: CBOE, AU, SKM & SSL
• Positive Sentiment: Zacks and other outlets included AU among top dividend or income‑oriented names, which supports buying from income-focused investors and dividend-screen strategies. Buy 5 Top-Ranked Solid Dividend-Paying Stocks to Remain Safe in 2026
• Neutral Sentiment: Peer‑comparison pieces examine AU versus other basic‑materials/mining names; they provide context for relative valuation and performance but don’t introduce new company‑specific catalysts. AngloGold Ashanti Plc Versus Peers What Comparisons Matter Most
• Neutral Sentiment: Coverage comparing AU’s YTD performance to peers notes some outperformance, which may attract momentum flows but is informational rather than a fresh fundamental driver. Is AngloGold Ashanti (AU) Stock Outpacing Its Basic Materials Peers This Year?
• Negative Sentiment: Quarterly results: AU reported revenue of $3.07B (above estimates) and strong margins/ROE, but EPS of $1.68 missed consensus ($1.90). The EPS miss is a short‑term headwind, though management commentary/slide deck may have tempered the reaction. Earnings Report and Conference Call

Analysts Set New Price Targets

Several equities analysts recently commented on AU shares. Citigroup increased their price objective on shares of AngloGold Ashanti from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Scotiabank upped their price target on shares of AngloGold Ashanti from $92.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Wall Street Zen raised shares of AngloGold Ashanti from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of AngloGold Ashanti in a report on Wednesday, January 21st. Finally, Roth Mkm reissued a “buy” rating and issued a $122.00 target price on shares of AngloGold Ashanti in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in AngloGold Ashanti by 0.5% during the fourth quarter. State Street Corp now owns 5,731,937 shares of the mining company’s stock worth $488,820,000 after acquiring an additional 26,421 shares during the period. Invesco Ltd. increased its stake in shares of AngloGold Ashanti by 4.5% during the fourth quarter. Invesco Ltd. now owns 2,791,584 shares of the mining company’s stock worth $238,066,000 after purchasing an additional 119,355 shares in the last quarter. AQR Capital Management LLC raised its position in shares of AngloGold Ashanti by 5,109.9% during the 4th quarter. AQR Capital Management LLC now owns 2,082,326 shares of the mining company’s stock worth $179,286,000 after purchasing an additional 2,042,357 shares during the last quarter. Morgan Stanley lifted its stake in AngloGold Ashanti by 27.0% in the 4th quarter. Morgan Stanley now owns 2,038,986 shares of the mining company’s stock valued at $173,885,000 after buying an additional 433,654 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in AngloGold Ashanti by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,849,121 shares of the mining company’s stock valued at $129,841,000 after buying an additional 173,381 shares in the last quarter. 36.09% of the stock is currently owned by hedge funds and other institutional investors.

About AngloGold Ashanti

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.