AngloGold Ashanti plc

NYSE:AU Stock Report

Market Cap: US$52.7b

AngloGold Ashanti Future Growth

Future criteria checks 2/6

AngloGold Ashanti is forecast to grow earnings and revenue by 8.8% and 0.3% per annum respectively. EPS is expected to grow by 11.6% per annum. Return on equity is forecast to be 29.2% in 3 years.

Key information

8.8%

Earnings growth rate

11.59%

EPS growth rate

Metals and Mining earnings growth10.4%
Revenue growth rate0.3%
Future return on equity29.23%
Analyst coverage

Good

Last updated15 Sep 2026

Recent future growth updates

Recent updates

Narrative Update • Sep 10

AU: Rich P/E And Softer Production Will Restrain Future Returns

Analysts have modestly raised their price target for AngloGold Ashanti to $82 from about $79, citing updated assumptions for discount rates, revenue trends, profit margins and expectations for future P/E ratios. What’s in the News for AngloGold Ashanti AngloGold Ashanti reported gold production of 744,000 oz for the second quarter of 2026, compared with 804,000 oz a year earlier, and 1,468,000 oz for the first half of 2026, compared with 1,524,000 oz a year earlier.
Narrative Update • Aug 21

AU: Dividends And Buyback Plan Will Support Balanced Future Returns

Analysts have trimmed their price target for AngloGold Ashanti from $118.00 to about $113.13, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News AngloGold Ashanti declared an interim dividend for the second quarter of 2026 of US$0.72 per share, with key dates for New York Stock Exchange and South African Register holders set around August 21, 2026, and payment on September 4, 2026.
Seeking Alpha • Aug 20

AngloGold Ashanti: Strong Cash Flow, But Execution Caps The Upside

Summary AngloGold Ashanti (AU) is rated Hold at $108.54, reflecting strong H1 2026 cash flow but requiring improved operating execution to justify upside. H1 EBITDA surged 82% to $4.265B and FCF more than doubled to $1.895B, driven by high realized gold prices despite 4% lower production and rising costs. Balance sheet strength—$991M net cash, $949M H1 dividends, and a $2B buyback authorization—provides capital allocation flexibility, but cost inflation and asset quality dispersion persist. Maintaining production ≥2.80Moz and AISC ≤$1,990/oz in H2 is critical; sustained operating recovery and cost discipline are prerequisites for a potential upgrade. Read the full article on Seeking Alpha
Narrative Update • Aug 07

AU: Rich P/E And $2b Buyback Will Restrain Future Returns

Analysts have raised their price target on AngloGold Ashanti from $75.00 to about $79.15, citing updated assumptions that include a higher projected profit margin and a slightly different forward P/E, alongside revised expectations for revenue trends and discount rates. What’s in the News for AngloGold Ashanti AngloGold Ashanti reported Q2 2026 headline earnings of US$1b, a 58% rise according to recent results coverage, supported by tighter cost control and a 35% higher average gold price.
Narrative Update • Jul 23

AU: Geita Financing And Buybacks Will Support Stronger Future Shareholder Returns

Analysts have revised their price target for AngloGold Ashanti to $134.00 from $155.00, citing updated assumptions for revenue growth, profit margins, the discount rate, and the future P/E multiple. What's in the News Nedbank CIB arranged a US$500 million (about $714.2 million) financing facility for AngloGold Ashanti’s Geita Gold Mine in Tanzania, one of the largest mine financings solely underwritten by an African bank, with funds intended to support mine life beyond 10 years and production targets towards 600,000 oz per year.
Narrative Update • Jul 09

AU: Share Buyback Plan And Dividend Policy Will Support Future Upside

Analysts have trimmed their price target on AngloGold Ashanti to $118.00 from $123.29, citing slightly higher discount rate assumptions, more measured revenue growth expectations, and a modestly higher future P/E multiple supported by firmer projected profit margins. What’s in the News for AngloGold Ashanti AngloGold Ashanti has called a general shareholders meeting for July 23, 2026 in Greenwood Village, Colorado, where investors are set to vote on a proposed US$2b off market share buyback program, with details available via company and SEC filings.
Narrative Update • Jun 25

AU: Proposed $2b Buyback And Rich P/E Will Shape Future Returns

Analysts have reduced their price target for AngloGold Ashanti to $75.00, reflecting updated views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. What’s in the News for AngloGold Ashanti AngloGold Ashanti plc has proposed a share repurchase program of up to US$2b, subject to shareholder and regulatory approval, with the Board indicating the plan is intended to support shareholder value and reflect confidence in the company’s outlook.
Analysis Article • Jun 20

AngloGold Ashanti (AU) Stock Could Be 24.1% Undervalued Ahead Of Earnings

AngloGold Ashanti (AU) is back in focus as investors look ahead to an upcoming earnings release. Many expect it to show significant earnings expansion and improved profitability, given its role in global gold production. See our latest analysis for AngloGold Ashanti. At a share price of $90.87, AngloGold Ashanti has had a 7 day share price return of 5.30%, while its 1 year total shareholder return of 99.85% and 5 year total shareholder return of 447.65% point to strong momentum built over a...
Narrative Update • Jun 11

AU: Rich P/E And New Nevada Development Will Likely Temper Future Returns

Analysts now set a price target of $76.11 for AngloGold Ashanti, up from $75.00. This reflects updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that together suggest a slightly higher valuation framework for the stock.
Narrative Update • May 28

AU: New Buyback And Dividend Policy Will Support Future Upside

Analysts now place AngloGold Ashanti's price target at $123.29, up from $121.86, reflecting updated assumptions for the discount rate, revenue growth, profit margin, and future P/E. What's in the News The Board of Directors authorized a share repurchase plan under which AngloGold Ashanti may buy back up to US$2,000m of its common stock, subject to shareholder approval (Buyback Transaction Announcements).
New Narrative • May 17

AngloGold Ashanti is a top-5 global gold producer with a diversified portfolio across Africa, the Americas, and Australia.

Investment Assessment Report: AngloGold Ashanti Ltd. 1.
Narrative Update • Apr 28

AU: Arthur Project Reserve And Dividend Will Support Stronger Future Returns

Analysts have trimmed their price target for AngloGold Ashanti from $164.00 to $155.00, linking the change to updated assumptions that include a higher discount rate, slightly stronger revenue growth expectations, a lower profit margin outlook, and a modestly different future P/E multiple. What's in the News Completed a Technical Report Summary for the Arthur Gold Project in Nevada, outlining a Tier One gold deposit with a pre-feasibility study and an initial nine-year mine plan based on conventional open pit mining and processing (Key Developments).
Narrative Update • Apr 14

AU: Rich P/E And Costly Nevada Project Will Likely Restrain Future Returns

Analysts have kept their price target for AngloGold Ashanti steady at $75.00, citing updated assumptions that reflect a slightly higher discount rate and lower revenue growth, along with a stronger profit margin profile and a modestly lower future P/E multiple. What's in the News Completed a Technical Report Summary for the Arthur Gold Project in Nevada, outlining a Tier One gold deposit with an initial nine year mine life and average annual production of about 500,000 oz of gold, supported by a first time Probable Mineral Reserve of 4.9 Moz of contained gold and 7.8 Moz of contained silver as at 31 December 2025 (Key Developments).
Narrative Update • Mar 30

AU: New Arthur Project And Dividend Stream Will Support Future Upside

Analysts now place AngloGold Ashanti's fair value at $121.86, up from $98. This reflects updated assumptions around revenue growth, profit margins, a slightly adjusted discount rate, and a lower future P/E multiple.
Narrative Update • Mar 16

AU: Higher Dividend And Production Outlook Will Support Stronger Future Returns

Analysts have lifted their price target on AngloGold Ashanti from $132 to $164, citing updated assumptions that reflect the revised revenue growth outlook, a modestly adjusted discount rate, slightly higher profit margin expectations, and a lower future P/E multiple. What's in the News Reported unaudited group gold production of 680,000 ounces for the quarter ended 31 December 2025, compared with 710,000 ounces for the same quarter a year earlier (company announcement).
Narrative Update • Mar 02

AU: Softer Production And Rich P/E Will Likely Pressure Future Returns

Analysts have kept their price target on AngloGold Ashanti broadly in line with prior estimates, reflecting only minor tweaks to assumptions such as discount rate, revenue growth and future P/E, rather than a major change in their overall view. What's in the News AngloGold Ashanti declared an interim dividend of 173 US cents per share for the three months ended 31 December 2025.
Narrative Update • Feb 16

AU: Higher Revenue Assumptions And Rich P/E Will Likely Pressure Future Returns

Analysts have raised their price target on AngloGold Ashanti to $75 from $67, reflecting updated views on revenue growth, margins and the stock's forward P/E profile. Valuation Changes Fair Value: revised up to $75.00 from $67.00, indicating a higher assessed value per share based on the updated inputs.
Narrative Update • Feb 02

AU: Rising Output And Dividend Will Support A Stronger Outlook

Analysts have made a small upward revision to their price target for AngloGold Ashanti to $132 from $131, reflecting slightly higher assumptions for revenue growth, profit margins, and the P/E they are prepared to use in their models. What's in the News AngloGold Ashanti plc declared an interim dividend of US$0.91 per share for the three months ended 30 September 2025, with the ex dividend and record date on the NYSE set for Friday, 28 November 2025, and payment scheduled for Friday, 12 December 2025 (company announcement).
Analysis Article • Jan 29

Earnings Tell The Story For AngloGold Ashanti plc (NYSE:AU) As Its Stock Soars 36%

Despite an already strong run, AngloGold Ashanti plc ( NYSE:AU ) shares have been powering on, with a gain of 36% in...
Narrative Update • Jan 19

AU: Higher Margins And Dividend Will Support A Stronger Outlook

Analysts have lifted their fair value estimate for AngloGold Ashanti from $70.00 to $131.00, citing updated assumptions for revenue growth, profit margins and future P/E multiples as key drivers of the higher price target. What's in the News AngloGold Ashanti plc announced an interim dividend of US$0.91 per share for the three months ended 30 September 2025, with the ex dividend date and record date on the NYSE set for 28 November 2025 and payment scheduled for 12 December 2025 (company announcement).
Narrative Update • Jan 05

AU: Rising Gold Output And Regular Dividends Will Support Future Upside

Analysts have raised their price target on AngloGold Ashanti from 90.57 dollars to 98.00 dollars, reflecting expectations of faster revenue growth despite slightly higher discount rates and lower projected profit margins, as well as a richer future earnings multiple. What's in the News Announced an interim dividend of 0.91 US dollars per share for the quarter ended 30 September 2025, with NYSE shares trading ex dividend and on record on 28 November 2025 and payment scheduled for 12 December 2025 (company announcement).
Narrative Update • Dec 15

AU: Rising Gold Output Will Likely Fail To Justify Current Share Price

Analysts have significantly raised their price target for AngloGold Ashanti from approximately $38 to about $67 per share, citing expectations for stronger revenue growth, improved profit margins, a slightly higher required return, and a modestly lower future earnings multiple. What's in the News AngloGold Ashanti increased its interim dividend to 91 US cents per share for the three months ended 30 September 2025, indicating confidence in cash generation and balance sheet strength (Key Developments).
Narrative Update • Dec 01

AU: Future Dividend Prospects Will Rely On Improving Gold Output And Stable Margins

Analysts have slightly raised their price target for AngloGold Ashanti from $89.71 to $90.57, citing incremental improvements in projected revenue growth and profit margin expectations. What's in the News AngloGold Ashanti plc announced an interim dividend of 91 US cents per share for the three months ended September 30, 2025.
Analysis Article • Nov 27

AngloGold Ashanti plc (NYSE:AU) Stock Rockets 37% But Many Are Still Ignoring The Company

Despite an already strong run, AngloGold Ashanti plc ( NYSE:AU ) shares have been powering on, with a gain of 37% in...
Analysis Article • Nov 18

AngloGold Ashanti's (NYSE:AU) Earnings Are Of Questionable Quality

Unsurprisingly, AngloGold Ashanti plc's ( NYSE:AU ) stock price was strong on the back of its healthy earnings report...
Narrative Update • Nov 17

AU: Future Dividend Payouts Will Be Supported By Rising Gold Output

Analysts have raised their price target for AngloGold Ashanti from $88.29 to $89.71. They cite stronger anticipated revenue growth and improved profit margins as key factors behind the upward revision.
Narrative Update • Nov 01

AU: Strengthening Margins And Revenue Will Drive Upward Momentum In Coming Years

Analysts have raised their price target for AngloGold Ashanti from $70.50 to $88.29, citing expectations of improved profit margins and stronger revenue growth forecasts. Valuation Changes Fair Value Estimate has increased from $70.50 to $88.29, reflecting heightened expectations for AngloGold Ashanti's future performance.
Narrative Update • Oct 18

Robust Gold Demand And Operational Improvements Will Enable Future Success

Analysts have raised their fair value estimate for AngloGold Ashanti from $67.17 to $70.50, citing stronger projected revenue growth and improved profit margins in recent forecasts. What's in the News The company announced an interim dividend of 80 US cents per share for the quarter ended June 30, 2025.
Narrative Update • Oct 04

Robust Gold Demand And Operational Improvements Will Enable Future Success

Analysts have raised their fair value estimate for AngloGold Ashanti from $58.00 to approximately $67.17. This change reflects improved revenue growth expectations, which outweigh a slight decline in projected profit margins.
Analysis Article • Sep 23

Subdued Growth No Barrier To AngloGold Ashanti plc (NYSE:AU) With Shares Advancing 27%

AngloGold Ashanti plc ( NYSE:AU ) shares have continued their recent momentum with a 27% gain in the last month alone...
Narrative Update • Sep 19

Robust Gold Demand And Operational Improvements Will Enable Future Success

AngloGold Ashanti’s consensus analyst price target has increased to $58.00, driven by a higher expected future P/E ratio despite a modest decline in net profit margin. What's in the News AngloGold Ashanti declared an interim dividend of 80 US cents per share, payable in early September.
Narrative Update • Sep 04

Robust Gold Demand And Operational Improvements Will Enable Future Success

With both the Discount Rate and Future P/E essentially unchanged, there is no material shift in valuation, and AngloGold Ashanti’s consensus analyst price target remains steady at $54.17. What's in the News AngloGold Ashanti declared an interim dividend of 80 US cents per share for the three months ended June 30, 2025.

Earnings and Revenue Growth Forecasts

NYSE:AU - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202813,6415,2264,2346,7559
12/31/202713,5154,8584,1107,32410
12/31/202612,4294,5244,0426,5559
6/30/202611,8253,8074,4716,182N/A
3/31/202611,1663,4744,1945,768N/A
12/31/20259,8932,6363,3354,784N/A
9/30/20258,5752,2512,5243,852N/A
6/30/20257,6491,8051,7863,039N/A
3/31/20256,5851,3891,2882,441N/A
12/31/20245,7931,0048781,968N/A
9/30/20245,2995625911,682N/A
6/30/20244,9481152711,350N/A
3/31/20244,725-243741,129N/A
12/31/20234,582-235-71971N/A
9/30/20234,499-299-108973N/A
6/30/20234,532-108-951,105N/A
3/31/20234,4771861691,365N/A
12/31/20224,5012332571,804N/A
9/30/20224,3603903231,799N/A
6/30/20224,2195543891,793N/A
3/31/20224,1025962351,652N/A
12/31/20214,0296142261,268N/A
9/30/20214,3978124501,431N/A
6/30/20214,4299266741,517N/A
3/31/20214,5011,0158361,584N/A
12/31/20204,5959849351,692N/A
9/30/20204,1677827421,481N/A
6/30/20203,9066175491,308N/A
3/31/20203,685445N/A1,199N/A
12/31/20193,525364N/A1,047N/A
6/30/20192,916312N/A879N/A
3/31/20193,080253N/A764N/A
12/31/20183,336216N/A857N/A
9/30/20184,17176N/A927N/A
6/30/20184,39918N/A997N/A
3/31/20184,455-86N/A997N/A
12/31/20173,394145N/A997N/A
9/30/20174,512-178N/A1,014N/A
6/30/20174,238-165N/A1,031N/A
3/31/20174,162-51N/A1,109N/A
12/31/20164,22363N/A1,186N/A
9/30/20164,046188N/A1,214N/A
6/30/20163,929106N/A1,102N/A
3/31/20163,96363N/A1,187N/A
12/31/20154,01531N/A1,139N/A
9/30/20154,204-139N/A969N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: AU's forecast earnings growth (8.8% per year) is above the savings rate (3.7%).

Earnings vs Market: AU's earnings (8.8% per year) are forecast to grow slower than the US market (17.5% per year).

High Growth Earnings: AU's earnings are forecast to grow, but not significantly.

Revenue vs Market: AU's revenue (0.3% per year) is forecast to grow slower than the US market (13.6% per year).

High Growth Revenue: AU's revenue (0.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: AU's Return on Equity is forecast to be high in 3 years time (29.2%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/21 04:12
End of Day Share Price 2026/09/21 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

AngloGold Ashanti plc is covered by 25 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Herbert KharivheAbsa Bank Limited
Andrew ByrneBarclays
Matthew MurphyBMO Capital Markets Equity Research