On November 24, 2025, Canaccord Genuity downgraded AngloGold Ashanti (NYSE:AU) to a Neutral rating, with the stock priced at $79.81. AngloGold Ashanti is a major player in the gold mining industry, with significant operations in Africa, Australia, and the Americas. It competes with other mining giants like Newmont Corporation and Agnico Eagle Mines.
AngloGold Ashanti is making substantial investments in its Geita Gold Mine in Tanzania. The company plans to invest $100 million over the next three years to expand the mine, aiming to increase its mineral reserves by about 60%. This expansion is expected to extend the mine's life to at least a decade, supporting steady production growth.
The company recently reported a 17% year-over-year increase in gold output, reaching 768,000 ounces in the third quarter. Earnings per share surged by 136% to $1.32, driven by higher sales volumes and elevated metal prices. Despite these strong results, AU's revenues and earnings fell short of the Zacks Consensus Estimate, as highlighted by Zacks.
AngloGold Ashanti's stock has soared by 283.3% year to date, significantly outperforming the Zacks Mining - Gold industry's 125.2% increase. In comparison, the Basic Materials sector has risen by 25.3%, and the S&P 500 has gained 19.6%. The company has also outperformed its peers, Newmont Corporation and Agnico Eagle Mines, which have seen increases of 153.5% and 123.6%, respectively.
The company reported a significant increase in its third-quarter free cash flow, which surged by 141% year-on-year to reach a record $920 million. This growth was attributed to continued cost discipline and higher gold prices. AngloGold Ashanti declared a quarterly dividend of $460 million, bringing the total dividends for the year to $927 million.
