AngloGold Ashanti plc (NYSE:
AU) is one of the
most undervalued and overlooked large-cap stocks. On August 11, Scotiabank’s Tanya Jakusconek raised her price target on AngloGold Ashanti plc (NYSE:AU) to $55 from $53 while maintaining a Sector Perform rating. The revision followed Q2 results and updates across the gold and precious minerals sector.
Photo by suradeach saetang on Unsplash
The analyst cited progress at the company’s Nevada operations, delivery at Obuasi, and completion of the Augusta Gold transaction as key drivers of the updated model. AngloGold Ashanti plc’s (NYSE:AU) continued work on its full asset potential program, aimed at lowering costs, also supported the higher valuation.
In mid-July, the company announced the acquisition of Augusta Gold Corp. in an all-cash deal valued at approximately $111 million. The deal will not only consolidate the company’s footprint in the Beatty District but will also provide incremental mineral resources, ease access, and lead to improved infrastructure sharing. The deal is expected to close in Q4 2025.
AngloGold Ashanti plc (NYSE:AU) is a global gold producer based in South Africa, operating mines and projects across Africa, the Americas, and Australia.
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Disclosure: None. This article is originally published at
Insider Monkey.
