JSE:ANG

Stock Analysis Report

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Executive Summary

AngloGold Ashanti Limited operates as a gold mining company. More Details


Snowflake Analysis

Solid track record with adequate balance sheet.


Similar Companies

Share Price & News

How has AngloGold Ashanti's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ANG is not significantly more volatile than the rest of ZA stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: ANG's weekly volatility (8%) has been stable over the past year.


Market Performance


7 Day Return

-3.5%

ANG

-0.03%

ZA Metals and Mining

1.0%

ZA Market


1 Year Return

13.9%

ANG

32.6%

ZA Metals and Mining

-2.1%

ZA Market

Return vs Industry: ANG underperformed the ZA Metals and Mining industry which returned 32.6% over the past year.

Return vs Market: ANG exceeded the ZA Market which returned -2.1% over the past year.


Shareholder returns

ANGIndustryMarket
7 Day-3.5%-0.03%1.0%
30 Day1.3%5.2%3.4%
90 Day-19.1%4.1%11.5%
1 Year14.5%13.9%37.6%32.6%3.0%-2.1%
3 Year168.3%163.8%234.4%198.2%3.4%-17.7%
5 Year164.3%157.4%418.0%335.4%50.6%8.4%

Long-Term Price Volatility Vs. Market

How volatile is AngloGold Ashanti's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is AngloGold Ashanti undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ANG (ZAR347.28) is trading below our estimate of fair value (ZAR10189.83)

Significantly Below Fair Value: ANG is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: ANG's PE Ratio (15.5x) is in line with the ZA Metals and Mining industry average.

PE vs Market: ANG is poor value based on its PE Ratio (15.5x) compared to the ZA market (13.2x).


Price to Earnings Growth Ratio

PEG Ratio: ANG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ANG is overvalued based on its PB Ratio (3.2x) compared to the ZA Metals and Mining industry average (1.2x).


Next Steps

Future Growth

How is AngloGold Ashanti forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

-3.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ANG's earnings are forecast to decline over the next 3 years (-3.4% per year).

Earnings vs Market: ANG's earnings are forecast to decline over the next 3 years (-3.4% per year).

High Growth Earnings: ANG's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ANG's revenue (3.5% per year) is forecast to grow slower than the ZA market (10.5% per year).

High Growth Revenue: ANG's revenue (3.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ANG's Return on Equity is forecast to be high in 3 years time (20.5%)


Next Steps

Past Performance

How has AngloGold Ashanti performed over the past 5 years?

55.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ANG has high quality earnings.

Growing Profit Margin: ANG's current net profit margins (15.8%) are higher than last year (10.7%).


Past Earnings Growth Analysis

Earnings Trend: ANG has become profitable over the past 5 years, growing earnings by 55.8% per year.

Accelerating Growth: ANG's earnings growth over the past year (97.6%) exceeds its 5-year average (55.8% per year).

Earnings vs Industry: ANG earnings growth over the past year (97.6%) underperformed the Metals and Mining industry 136.9%.


Return on Equity

High ROE: ANG's Return on Equity (20.6%) is considered high.


Next Steps

Financial Health

How is AngloGold Ashanti's financial position?


Financial Position Analysis

Short Term Liabilities: ANG's short term assets ($2.8B) exceed its short term liabilities ($1.1B).

Long Term Liabilities: ANG's short term assets ($2.8B) do not cover its long term liabilities ($3.8B).


Debt to Equity History and Analysis

Debt Level: ANG's debt to equity ratio (89.5%) is considered high.

Reducing Debt: ANG's debt to equity ratio has reduced from 139.7% to 89.5% over the past 5 years.

Debt Coverage: ANG's debt is well covered by operating cash flow (47.9%).

Interest Coverage: ANG's interest payments on its debt are well covered by EBIT (8.4x coverage).


Balance Sheet


Next Steps

Dividend

What is AngloGold Ashanti current dividend yield, its reliability and sustainability?

0.48%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ANG's dividend (0.48%) isn’t notable compared to the bottom 25% of dividend payers in the ZA market (3.07%).

High Dividend: ANG's dividend (0.48%) is low compared to the top 25% of dividend payers in the ZA market (8.85%).


Stability and Growth of Payments

Stable Dividend: ANG is not paying a notable dividend for the ZA market, therefore no need to check if payments are stable.

Growing Dividend: ANG is not paying a notable dividend for the ZA market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: ANG is not paying a notable dividend for the ZA market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ANG's dividend in 3 years as they are not forecast to pay a notable one for the ZA market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.0yrs

Average management tenure


CEO

Kandimathie Christine Ramon (53 yo)

0.33

Tenure

US$5,262,101

Compensation

Ms. Kandimathie Christine Ramon, BCompt, BCompt (Hons), CA(SA), has been Interim CEO of AngloGold Ashanti Limited since September 1, 2020. Ms. Ramon had been the Chief Financial Officer of AngloGold Ashant...


CEO Compensation Analysis

Compensation vs Market: Kandimathie's total compensation ($USD5.26M) is above average for companies of similar size in the ZA market ($USD2.12M).

Compensation vs Earnings: Kandimathie's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Kandimathie Christine Ramon
Executive Director & Interim CEO0.33yrUS$5.26m0.022%
$ 32.1m
Pierre Chenard
Executive Vice President of Corporate Development & Strategy1.75yrsUS$3.40mno data
Tirelo Sibisi
Executive Vice President of Group Human Resources4yrsUS$3.63m0%
$ 0
Graham Ehm
Executive Vice President of Group Planning & Technical13.08yrsUS$4.89m0.046%
$ 67.1m
Ludwig Eybers
Chief Operating Officer of International5yrsUS$4.81m0.0066%
$ 9.6m
Stewart Bailey
Executive Vice President of Corporate Affairs & Sustainability2yrsUS$2.26m0.00029%
$ 421.9k
Sicelo Ntuli
Chief Operating Officer of Africa1.92yrsUS$2.65mno data
Ian Kramer
Interim Chief Financial Officer0.33yrno datano data
John Staples
Chief Accounting Officerno datano datano data
Lizelle Marwick
Executive VPno datano datano data
Vaughan Chamberlain
Senior Vice President of Strategic Technical Groupno datano datano data
Gerry Arnat
Managing Director of Navachab Gold Mine - Karibib14.33yrsno datano data

2.0yrs

Average Tenure

53yo

Average Age

Experienced Management: ANG's management team is considered experienced (2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kandimathie Christine Ramon
Executive Director & Interim CEO0.33yrUS$5.26m0.022%
$ 32.1m
Maria Del Richter
Independent Non-Executive Director6yrsUS$230.25k0.0022%
$ 3.2m
Alan Ferguson
Independent Non-Executive Director2.25yrsUS$216.50kno data
Rhidwaan Gasant
Lead Independent Director1.17yrsUS$193.25kno data
Jochen Tilk
Independent Non-Executive Director2yrsUS$230.50kno data
Maria Da Conceicao Das Neves Ramos
Independent Non-Executive Chairman0.083yrUS$106.75kno data
Albert Garner
Independent Non-Executive Director6yrsUS$195.50k0.0042%
$ 6.1m
Nelisiwe V. Magubane
Independent Non-Executive Director1yrno datano data
Kojo Busia
Independent Non-Executive Director0.42yrno datano data

2.0yrs

Average Tenure

60yo

Average Age

Experienced Board: ANG's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

AngloGold Ashanti Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AngloGold Ashanti Limited
  • Ticker: ANG
  • Exchange: JSE
  • Founded: 1944
  • Industry: Gold
  • Sector: Materials
  • Market Cap: R145.486b
  • Shares outstanding: 416.89m
  • Website: https://www.anglogoldashanti.com

Number of Employees


Location

  • AngloGold Ashanti Limited
  • 76 Rahima Moosa Street
  • Newtown
  • Johannesburg
  • Gauteng
  • 2001
  • South Africa

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AUNYSE (New York Stock Exchange)LVL1 ADR EACH REP 1 ORD ZAR0.25(BNY)USUSDDec 1972
0HFYLSE (London Stock Exchange)LVL1 ADR EACH REP 1 ORD ZAR0.25(BNY)GBUSDDec 1972
AODDB (Deutsche Boerse AG)LVL1 ADR EACH REP 1 ORD ZAR0.25(BNY)DEEURDec 1972
AUSWX (SIX Swiss Exchange)LVL1 ADR EACH REP 1 ORD ZAR0.25(BNY)CHCHFDec 1972
AULG.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
AGAGHSE (Ghana Stock Exchange)YesOrdinary SharesGHGHSJan 1992
ANGJSE (The Johannesburg Securities Exchange)YesOrdinary SharesZAZARJan 1992
AOD1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
AODCDB (Deutsche Boerse AG)SHS CHESS UTSDEEURNov 1999
AGGASX (Australian Securities Exchange)SHS CHESS UTSAUAUDNov 1999
AGGCHIA (Chi-X Australia)SHS CHESS UTSAUAUDNov 1999
AADSGHSE (Ghana Stock Exchange)GDR (100 REPR 1 ORD SHS)GHGHSDec 2006

Biography

AngloGold Ashanti Limited operates as a gold mining company. It also produces gold, silver, uranium, and sulphuric acid; and dóre bars. The company operates 14 mines and three projects in nine countries in...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/18 17:31
End of Day Share Price2021/01/18 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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 here.