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

AngloGold Ashanti (NYSE:AU) posted its earnings results on Friday. The mining company reported $1.68 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.22), FiscalAI reports. AngloGold Ashanti had a net margin of 26.25% and a return on equity of 24.01%. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate 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 Price Performance

AngloGold Ashanti stock opened at $114.38 on Friday. The stock has a market capitalization of $57.75 billion, a price-to-earnings ratio of 25.19 and a beta of 0.59. AngloGold Ashanti has a 52-week low of $28.44 and a 52-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. The stock’s 50 day moving average price is $97.79 and its two-hundred day moving average price is $79.20.

AngloGold Ashanti Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.173 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, March 13th. AngloGold Ashanti’s dividend payout ratio is presently 80.18%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fieldview Capital Management LLC bought a new position in shares of AngloGold Ashanti during the 4th quarter worth about $214,000. Coldstream Capital Management Inc. bought a new stake in AngloGold Ashanti in the 3rd quarter valued at about $212,000. Keebeck Wealth Management acquired a new position in AngloGold Ashanti during the 3rd quarter worth approximately $211,000. Keel Point LLC bought a new position in AngloGold Ashanti in the fourth quarter worth approximately $203,000. Finally, Virtus Investment Advisers LLC acquired a new stake in AngloGold Ashanti in the fourth quarter valued at approximately $154,000. 36.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on AU. Citigroup upped their price target 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. Roth Mkm reissued a “buy” rating and issued a $122.00 price objective on shares of AngloGold Ashanti in a research note on Friday. Wall Street Zen raised AngloGold Ashanti from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Zacks Research raised AngloGold Ashanti from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. upped their price target on AngloGold Ashanti from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AngloGold Ashanti presently has an average rating of “Moderate Buy” and an average target price of $100.00.

Key Stories 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

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.