RBC Capital Maintains a Buy on AngloGold Ashanti (AU)

AngloGold Ashanti plc (NYSE:AU) is one of the most profitable gold stocks to buy right now. On July 20, RBC Capital analyst Josh Wolfson maintained a Buy rating on AngloGold Ashanti plc (NYSE:AU) and set a price target of $53.00.

AngloGold Ashanti plc (NYSE:AU) announced on July 16 that it entered into a definitive agreement with Augusta Gold Corp. to acquire all issued and outstanding shares of common stock of Augusta Gold at a price of C$1.70 per share of common stock in cash.

Management stated that the transaction would allow AngloGold Ashanti plc (NYSE:AU) to further bolster its footprint in the Beatty District through the acquisition of Reward, a permitted, feasibility-stage project, the Bullfrog deposit, and all tenements surrounding each of these properties.

The acquired properties are adjacent to AngloGold Ashanti plc’s (NYSE:AU) Beatty District claims and would provide additional Mineral Resources to the company’s inventory.

Based in the UK, AngloGold Ashanti plc (NYSE: AU) is an independent global gold mining company with a diverse portfolio of exploration activities, projects, and operations spanning nine countries across four continents.

The company’s portfolio spans the Americas, Africa, and Australia. It also produces sulphuric acid and silver as by-products.

While we acknowledge the potential of AU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.