JSE:ANG

Stock Analysis Report

Executive Summary

AngloGold Ashanti Limited operates as a gold mining company.


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's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

26.6%

ANG

17.5%

ZA Metals and Mining

4.9%

ZA Market


1 Year Return

74.2%

ANG

19.9%

ZA Metals and Mining

-32.1%

ZA Market

Return vs Industry: ANG exceeded the ZA Metals and Mining industry which returned 28.5% over the past year.

Return vs Market: ANG exceeded the ZA Market which returned -27.8% over the past year.


Shareholder returns

ANGIndustryMarket
7 Day26.6%17.5%4.9%
30 Day2.8%-21.9%-23.0%
90 Day8.1%-23.3%-29.1%
1 Year75.2%74.2%26.1%19.9%-22.9%-32.1%
3 Year137.0%133.0%91.1%58.9%-11.7%-28.0%
5 Year196.7%189.0%105.3%68.1%-8.7%-31.0%

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?

45.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ANG (ZAR333.74) is trading below our estimate of fair value (ZAR613.3)

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


Price To Earnings Ratio

PE vs Industry: ANG is poor value based on its PE Ratio (21.8x) compared to the Metals and Mining industry average (18.7x).

PE vs Market: ANG is poor value based on its PE Ratio (21.8x) compared to the ZA market (8.1x).


Price to Earnings Growth Ratio

PEG Ratio: ANG is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: ANG is overvalued based on its PB Ratio (3x) compared to the ZA Metals and Mining industry average (0.8x).


Next Steps

Future Growth

How is AngloGold Ashanti forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

24.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ANG's forecast earnings growth (24.5% per year) is above the savings rate (8.6%).

Earnings vs Market: ANG's earnings (24.5% per year) are forecast to grow faster than the ZA market (16.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ANG's revenue (5.3% per year) is forecast to grow slower than the ZA market (8.6% per year).

High Growth Revenue: ANG's revenue (5.3% 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 low in 3 years time (17.1%).


Next Steps

Past Performance

How has AngloGold Ashanti performed over the past 5 years?

40.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ANG has high quality earnings.

Growing Profit Margin: ANG's current net profit margins (10.3%) are higher than last year (3.4%).


Past Earnings Growth Analysis

Earnings Trend: ANG has become profitable over the past 5 years, growing earnings by 40.4% per year.

Accelerating Growth: ANG's earnings growth over the past year (173.7%) exceeds its 5-year average (40.4% per year).

Earnings vs Industry: ANG earnings growth over the past year (173.7%) exceeded the Metals and Mining industry -8.7%.


Return on Equity

High ROE: ANG's Return on Equity (13.8%) is considered low.


Next Steps

Financial Health

How is AngloGold Ashanti's financial position?


Financial Position Analysis

Short Term Liabilities: ANG's short term assets ($2.0B) exceed its short term liabilities ($1.7B).

Long Term Liabilities: ANG's short term assets ($2.0B) do not cover its long term liabilities ($2.5B).


Debt to Equity History and Analysis

Debt Level: ANG's debt to equity ratio (76%) is considered high.

Reducing Debt: ANG's debt to equity ratio has reduced from 127.7% to 76% over the past 5 years.


Balance Sheet

Inventory Level: ANG has a high level of physical assets or inventory.

Debt Coverage by Assets: ANG's debt is not covered by short term assets (assets are 1x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: ANG is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: ANG is profitable, therefore cash runway is not a concern.


Next Steps

Dividend

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

0.58%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ANG's dividend (0.58%) isn’t notable compared to the bottom 25% of dividend payers in the ZA market (4.42%).

High Dividend: ANG's dividend (0.58%) is low compared to the top 25% of dividend payers in the ZA market (13.53%).


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?

4.8yrs

Average management tenure


CEO

Kelvin P. Dushnisky (55yo)

1.5s

Tenure

US$29,712,000

Compensation

Mr. Kelvin P. M. Dushnisky, B.Sc. (Hon.), M.Sc., LL.B., J.D. has been Chief Executive Officer and Executive Director at AngloGold Ashanti Ltd. since September 1, 2018. Mr. Dushnisky had been the President  ...


CEO Compensation Analysis

Compensation vs Market: Kelvin P.'s total compensation ($USD1.69M) is below average for companies of similar size in the ZA market ($USD2.56M).

Compensation vs Earnings: Insufficient data to compare Kelvin P.'s compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Kelvin P. Dushnisky
CEO & Executive Director1.5yrsUS$29.71m0.022% $30.2m
Kandimathie Christine Ramon
CFO & Executive Director5.42yrsUS$18.77m0.022% $30.7m
Maria Esperanza Perez
Executive VP of Legal6.83yrsUS$13.70m0.0088% $12.2m
Tirelo Sibisi
Executive Vice President of Group Human Resources3.17yrsUS$12.67m0.0075% $10.3m
Graham Ehm
Executive Vice President of Group Planning & Technical12.25yrsUS$30.53m0.062% $85.6m
Ludwig Eybers
Chief Operating Officer of International4.17yrsUS$16.11m0.011% $15.2m
John Staples
Chief Accounting Officerno datano datano data
Pierre Chenard
Executive Vice President of Corporate Development & Strategy0.92yrno datano data
Vaughan Chamberlain
Senior Vice President of Strategic Technical Groupno datano datano data
Gerry Arnat
Managing Director of Navachab Gold Mine - Karibib13.5yrsno datano data

4.8yrs

Average Tenure

54yo

Average Age

Experienced Management: ANG's management team is considered experienced (4.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kelvin P. Dushnisky
CEO & Executive Director1.5yrsUS$29.71m0.022% $30.2m
Kandimathie Christine Ramon
CFO & Executive Director5.42yrsUS$18.77m0.022% $30.7m
Maria Del Richter
Independent Non-Executive Director5.17yrsUS$235.25k0.0022% $3.1m
Alan Ferguson
Independent Non-Executive Director1.42yrsUS$52.50kno data
Rodney Ruston
Independent Non-Executive Director8.17yrsUS$260.75k0.0012% $1.7m
Rhidwaan Gasant
Lead Independent Director0.33yrUS$229.50kno data
Jochen Tilk
Independent Non-Executive Director1.17yrsno datano data
Sipho Pityana
Independent Chairman of the Board6.08yrsUS$441.00k0.00072% $997.9k
Nozipho January-Bardill
Independent Non-Executive Director8.42yrsUS$197.50kno data
Albert Garner
Independent Non-Executive Director5.17yrsUS$200.00k0.0042% $5.8m

5.2yrs

Average Tenure

60.5yo

Average Age

Experienced Board: ANG's board of directors are considered experienced (5.2 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: ANG 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: R138.603b
  • Shares outstanding: 415.30m
  • 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)SPONSORED ADRUSUSDDec 1972
AODDB (Deutsche Boerse AG)SPONSORED ADRDEEURDec 1972
AUSWX (SIX Swiss Exchange)SPONSORED ADRCHCHFDec 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 silver, uranium, and sulphuric acid; and dóre bars. The company operates 14 mines and 3 projects in 10 countries in South Africa, Continental Africa, the Americas, and Australasia. AngloGold Ashanti Limited was incorporated in 1944 and is headquartered in Johannesburg, South Africa. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/28 17:32
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
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.