AngloGold Ashanti Hits 52-Week High: What's Driving Its Performance?

AngloGold Ashanti PLC AU scaled a new 52-week high of $91.65 on Friday before ending the session lower at $91.25. The increase was fueled by near-record gold prices.

The company currently has a market capitalization of $38.3 billion and a Zacks Rank #3 (Hold).

What’s Aiding AngloGold Ashanti Stock?

Solid Q3 Results & Upbeat Outlook: AngloGold Ashanti reported a 17% year-over-year increase in gold production to 768,000 ounces in the third quarter of 2025, driven by the contributions from the recently acquired Sukari mine. The upside was also fueled by solid performances from key assets like Obuasi, Kibali, Geita and Cuiabá. The increased production volumes, along with increased metal prices, led to a 9% year-over-year jump in its adjusted EBITDA to $1,56 million in the quarter.

Gold revenues surged 61.9% to $2.37 billion in the quarter. AngloGold Ashanti’s earnings per share skyrocketed 136% to $1.32 due to higher sales volumes and prices.

Gold production for 2025 is projected at 2.9-3.225 million ounces. This suggests year-over-year growth of 9-21%. For 2026, the company expects similar output levels to those in 2025.

Record Q3 Cash Flow: The company generated a record $920 million in free cash flow in the third quarter, a 141% year-over-year whopping rise.

The adjusted net debt to adjusted EBITDA ratio improved to 0.09X at the end of the third quarter from 0.37X at the end of the year-ago quarter. AngloGold Ashanti ended the quarter with $3.9 billion in liquidity, including cash and cash equivalents of $2.5 billion.

Near-record Gold Price: Gold prices have increased 71% year to date. The metal has been supported by geopolitical tensions, tariff concerns and continuous purchasing by central banks. Gold prices are currently trending near a record $4,462 per ounce, backed by further expectations of Federal Reserve rate cuts next year.

This pickup in the prices of gold is likely to improve AngloGold Ashanti’s results in the upcoming quarters.

AU Stock’s Price Performance

In the past year, shares of AngloGold Ashanti have soared 318.7% compared with the industry’s growth of 167.1%.

Stocks to Consider

Some better-ranked stocks from the basic materials space are Agnico Eagle Mines AEM, Kinross Gold Corporation KGC and Fortuna Mining Corp. FSM. AEM and KGC sport a Zacks Rank #1 (Strong Buy) and FSM has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The consensus estimate for Agnico Eagle Mines’ 2025 earnings is pegged at $7.77 per share. The estimate indicates year-over-year growth of 83.6%. It has an average trailing four-quarter earnings surprise of 11.6%. Agnico Eagle Mines’ shares have surged 107.6% in a year.

The Zacks Consensus Estimate for Kinross Gold’s 2025 earnings is pegged at $1.67 per share, indicating year-over-year growth of 145%. Kinross Gold’s shares soared 135% last year.

The consensus estimate for Fortuna Mining’s 2025 earnings is pegged at 76 cents per share. The estimate indicates year-over-year growth of 65.2%. Fortuna Mining’s shares have surged 145.6% in a year.

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This article originally published on Zacks Investment Research (zacks.com).

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