AngloGold Ashanti PLC Earnings
AngloGold Ashanti PLC delivered a robust performance in the third quarter of 2025, showcasing significant growth across various financial metrics. The company's commitment to cost discipline and strategic operations enabled it to harness the benefits of a rising gold price, culminating in record-breaking cash generation and substantial shareholder returns.
Key Financial Metrics
| Metric | Q3 2025 | Q3 2024 | YoY Change (%) |
|---|---|---|---|
| Adjusted EBITDA* | $1.6 billion | $746 million | +109% |
| Free Cash Flow* | $920 million | $381 million | +141% |
| Net Cash Flow from Operations | $1.4 billion | $606 million | +134% |
| Headline Earnings | $672 million | $236 million | +185% |
| Earnings Per Share | $1.32 | $0.56 | +136% |
Revenue Breakdown
| Segment | Q3 2025 Production (oz) | Q3 2024 Production (oz) | YoY Change (%) |
|---|---|---|---|
| Gold Production (Total) | 768,000 | 657,000 | +17% |
| Kibali | 86,000 | 71,000 | +21% |
Analysis: The revenue breakdown underscores a 17% year-over-year increase in gold production, highlighting the contribution of new projects and improvements at existing sites. The Sukari mine in Egypt played a pivotal role in this surge, along with strong outputs from Obuasi in Ghana and Kibali in the Democratic Republic of the Congo.
Key Developments
AngloGold Ashanti's key achievements in Q3 2025 include a successful strategic acquisition and sustained operational efficiency. The company's acquisition of Augusta Gold Corp strengthens its position in Nevada, enhancing its capacity to develop the region. Moreover, a concerted focus on operational discipline has resulted in total cash costs remaining flat in real terms, despite market volatility and inflationary pressures.
Furthermore, the company’s reinvestment strategy focuses on expanding its Mineral Reserve base and enhancing operational flexibility. The Geita Gold Mine in Tanzania is a flagship project expected to realize a 60% increase in its Mineral Reserve, extending its current production lifespan significantly. Such strategic investments are poised to contribute to robust and sustainable growth in the coming years.
Comments from Company Officers
CEO Alberto Calderon remarked on this record-breaking quarter, stating: "This is another record quarter for cash generation and another healthy dividend declaration. Cash costs again stayed flat in real terms, which means we can capture these stronger margins and show capital discipline by passing the benefit on to shareholders."
Dividends and Share Repurchases
Reflecting its solid cash generation, AngloGold Ashanti declared a Q3 interim dividend of 91 US cents per share, amounting to $460 million. This dividend includes a minimum of $63 million, or 12.5 US cents per share, with the balance reflecting the company’s decision to distribute half of the free cash flow generated. The total dividends declared for the first nine months of 2025 amounted to $927 million, demonstrating the company's commitment to delivering value to shareholders.
AngloGold Ashanti PLC Stock Forecast
Considering AngloGold Ashanti's compelling financial performance and strategic advancements, we anticipate moderate to significant stock price appreciation. Given the company's strong cash position and anticipated growth from recent acquisitions and reserve expansions, the stock price could see a high of approximately $8.50. Conversely, potential market volatility and external risks might constrain the price to a low of around $6.00. These projections hinge on continued operational excellence and favorable market conditions for gold prices.
AngloGold Ashanti's exceptional performance in Q3 2025 underscores its strategic focus on operational excellence, cost discipline, and shareholder returns. With strategic acquisitions and robust production growth, the company is poised for continued success, reflecting its resilience and forward-thinking approach in the dynamic gold mining industry.
