AngloGold Ashanti 2025 free cash flow triples to $2.9 bln on strong production growth
Overview
Gold miner's 2025 free cash flow tripled to $2.9 bln, driven by production growth
Adjusted EBITDA more than doubled to $6.3 bln in 2025
Company declared total 2025 dividends of $1.8 bln, highest ever
Outlook
AngloGold Ashanti forecasts 2026 group gold production between 2.80Moz and 3.17Moz
Company expects 2026 total cash costs between $1,315/oz and $1,430/oz
AngloGold Ashanti forecasts 2026 AISC between $1,780/oz and $1,990/oz
Result Drivers
GOLD PRODUCTION INCREASE - Group Gold production rose 16% y-o-y to 3.1Moz, driven by full-year contribution from Sukari and improved performance at certain assets
HIGHER GOLD PRICES - Average gold price received per ounce rose 45% y-o-y to $3,468/oz, boosting revenues and cash flow
PORTFOLIO OPTIMIZATION - Acquisition of Centamin and strategic divestitures improved focus on core assets
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
FY Adjusted EBITDA |
| $6.30 bln |
|
FY Capex |
| $1.60 bln |
|
FY Free Cash Flow |
| $2.90 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the gold peer group is "buy"
Wall Street's median 12-month price target for Anglogold Ashanti PLC is $113.50, about 5.5% above its February 19 closing price of $107.63
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nJseT0043a
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