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AngloGold Ashanti plc
🏹 Trader: ⭐ All Three 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High 📊 High Volume | BRS 82 Ready View all →
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$61.6B
Market Cap
16.5
P/E
0.48
PEG
33.1%
ROCE
34.4%
ROE
0.22
D/E
41.8%
OPM
-4.6%
% from 52W High
93
α RS
🔍 AU is showing a high-conviction setup because it matches 35 of 37 tracked screener presets, Sector RRG has Materials in the Leading quadrant with the trail still strengthening, and RS Rating is 93 (top decile vs market). Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating
Sources
Conviction 35/37 · Materials in Leading quadrant · RS Rating 93
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🌏 Global Investor Returns
Currency-adjusted total returns for AU including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding AU
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 556.2K $54.2M 0.08% Mar 2026
Steve Cohen Point72 Asset Management 165.2K $16.1M 0.02% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue (implied: 744koz × $4,446/oz)
$3.3B
+~25% YoY
EBITDA
$2.0B
+46% YoY
Net income (headline)
$1.0B
+58% YoY
Basic EPS
$1.97
+49% YoY
What Went Right
  • Sector-leading cash conversion: Q2 free cash flow +36% YoY to $727M; H1 FCF more than doubled to $1.9B.
  • Controllable cost discipline held: managed-operation controllable costs down $20/oz despite $216/oz macro headwinds (royalties +$67, inflation +$71, fuel +$43, FX +$35).
  • Capital returns stepped up: $949M dividends declared in H1 (Q2: $364M), $666M bond buyback completed, $2B share buyback approved, net cash of $991M.
  • Tier 1 assets (70%+ of production) delivered a 71% cash margin; full-year 2026 guidance reaffirmed.
What to Watch
  • Total cash costs rose 21% YoY to $1,480/oz; macro pressures (US CPI 3.5%, Brent +45%, AUD +10%, BRL +11%, GHS +9%) are the main driver.
  • Obuasi safety disruption: April fatality forced a two-week shutdown; H2 Obuasi production guided to only 150koz, with ore passes still being rebuilt.
  • Production fell 7% YoY to 744koz; H2 faces Tropicana lower-grade Havana 6 pit and Iduapriem flooding constraints.
  • Q2 cash taxes more than doubled to $542M (record); Q3/Q4 seen at $230–250M each, a seasonal drag on near-term FCF conversion.
Management Guidance
  • Full-year 2026 production and cost guidance reaffirmed (specific ranges not restated on the call).
  • H2 production expected ~6% higher than H1; total cash costs expected to decline in H2 on the higher volume base.
  • Remaining 2026 cash taxes guided to $230–250M in each of Q3 and Q4.
  • Q3 update to detail 300–450koz incremental production opportunity from existing operations; Arthur (Nevada) feasibility study starts August 2026.
Investor Lens
Thesis strengthened: AngloGold converted a 35% higher gold price into sector-leading FCF (+36% YoY to $727M; H1 $1.9B) and swung to net cash of $991M. Returns are now explicit — $949M of H1 dividends, a $2B buyback approved, and a $666M bond repurchase. Caveats are mostly external: macro cost inflation of ~$216/oz, a $542M seasonal cash-tax peak in Q2, and Obuasi's fatality-related disruption. With FY guidance held and H2 production guided +6% at lower unit costs, the free-cash-flow yield is the clearest catalyst.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG STRONG — FCF +36% to $727M, EBITDA +46% to $2.0B
Revenue
Revenue was not explicitly disclosed on the call. Implied from stated figures (744koz × $4,446/oz realized price) it is ~$3.3B, roughly +25% YoY versus the implied year-ago base (804koz at ~$3,293/oz). No segment revenue split was provided.
Profitability
Headline earnings rose 58% YoY to $1.0B (from $639M), with basic EPS up 49% to $1.97. EBITDA increased 46% YoY to $2.0B from $1.4B, driven by the 35% higher realized gold price and cost discipline.
Margins
Group total cash costs rose 21% YoY to $1,480/oz, with macro headwinds worth ~$216/oz (inflation +$71, royalties +$67, fuel +$43, FX +$35) partly offset by $20/oz of controllable-cost savings. Tier 1 assets delivered a 71% cash margin on 70%+ of production; Tier 2 assets delivered 58%. Implied EBITDA margin is ~61% on ~$3.3B revenue.
Balance Sheet
Ended June 2026 with net cash of $991M versus net debt of $311M a year earlier, with liquidity of $4.2B. H1 dividends declared totaled $949M; a $666M bond buyback was completed in April and a $2B share buyback approved on 23 July 2026.
Key Risks
Macro cost inflation is the largest watch item — US CPI at 3.5%, Brent crude up 45% and local currency strength (AUD +10%, BRL +11%, GHS +9%) added ~$216/oz to unit costs. The April Obuasi fatality caused a two-week shutdown; management guided H2 Obuasi production to only 150koz and flagged Tropicana grade decline and Iduapriem flooding for H2. Q2 cash taxes doubled to $542M (seasonal peak), and Middle East developments could pressure energy and supply chains.
Outlook
Full-year 2026 guidance was reaffirmed; management expects H2 production ~6% higher than H1 with lower unit costs. Remaining cash taxes are guided to $230–250M per quarter, and a detailed organic growth update (300–450koz incremental potential) is planned for Q3.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (3 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (3)
Q2 2026 Q2 2026 2026-07-31
Strong H1 2026 results featured sector-leading EBITDA and free cash flow growth, robust dividends, and a strengthened balance sheet. Despite inflation and operational challenges, production guidance is reaffirmed, with low-capex organic growth projects set to boost output.
Q4 2025 Q4 2025 2026-02-20
Record 2025 results featured a 129% rise in EBITDA, 16% production growth, and $2.9B free cash flow, driven by higher gold prices and strong Tier 1 asset performance. 2026 guidance targets up to 3.17M oz gold, with disciplined capital allocation and major growth projects in Nevada and Africa.
Q3 2025 Q3 2025 2025-11-11
Record free cash flow and earnings growth were achieved, with strong production from key assets and disciplined cost control. Major exploration and expansion projects are underway, and the balance sheet is at its strongest, supporting high dividend payouts.
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Information Sources:
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