This Expert Is Growing Increasingly Optimistic About Gold. Here's His Strategy.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 23 2026
0mins
Source: Barron's
Gold's Price Surge: Gold has experienced significant price increases, rising nearly 80% since late January of the previous year, reaching record highs.
Recent Performance: Since the beginning of the year, gold has gained 13.5%, surpassing $4,900 an ounce as of Thursday.
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Analyst Views on AU
Wall Street analysts forecast AU stock price to rise
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 98.870
Low
92.00
Averages
116.20
High
131.00
Current: 98.870
Low
92.00
Averages
116.20
High
131.00
About AU
AngloGold Ashanti plc is a global gold mining company with a diverse portfolio of operations, projects and exploration activities in over 10 countries, across four continents. The Company’s diverse portfolio includes approximately 10 operations in eight countries, which includes Argentina, Australia, Brazil, the Democratic Republic of the Congo (DRC), Egypt, Ghana, Guinea and Tanzania. Its Africa portfolio includes Kibali- managed by Barrick Gold Corporation, Egypt (Sukari), Ghana (Iduapriem and Obuasi), Guinea (Siguiri) and Tanzania (Geita). Australia hosts two of its operations, which include Sunrise Dam and Tropicana, both in the north-eastern goldfields in the state of Western Australia. The Americas hosts three of its operations, one in Argentina and two in Brazil, and a significant new greenfield development in Nevada in the United States.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ghana's Mining Regulator Mandates Local Contracting for Foreign Firms
- Localization Mandate: Ghana's mining regulator has mandated that Newmont, AngloGold Ashanti, and Zijin transition their mining operations to local contractors by December 2026 or face sanctions, a move aimed at enhancing local firms' capabilities and retaining more value within the country.
- Compliance Deadline: The regulator has issued letters to the three companies requiring full compliance with contract mining regulations by December 2026, despite Newmont's request for an extension to 2027 being denied, indicating the regulator's strict stance on compliance.
- Market Response: Almost all large mining companies have already transitioned to contract mining, with only these three firms still employing their own staff, reflecting Ghana's tightening policies in the mining sector aimed at increasing national revenue and fostering local economic development.
- Consequences of Non-Compliance: Miners failing to adhere to the new regulations will face hefty fines and potential mine shutdowns, which will significantly impact Ghana's mining landscape and promote the rise of local contractors.
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NEWMONT SEEKS EXTENSION UNTIL 2027 FOR COMPLIANCE DUE TO LISTING-RELATED LIMITATIONS – SOURCES
Extension Requested: A request has been made for an extension until 2027 to comply with certain regulations.
Citing Constraints: The request cites listing-related constraints as the reason for the extension.
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US Stocks Close Lower as Oil Prices Rebound Impact Market
- Market Decline: The S&P 500 index fell by 0.63%, the Dow Jones Industrial Average dropped by 0.59%, and the Nasdaq 100 index decreased by 0.42%, reflecting investor concerns over the uncertainty surrounding Iran's geopolitical situation, which dampened market sentiment.
- Oil Price Rebound Impact: WTI crude oil prices rebounded by over 2% after Iran announced it would not attend peace talks, raising fears of a deepening global energy crisis, which could further hinder economic recovery.
- Supportive Economic Data: March retail sales rose by 1.7% month-over-month, surpassing expectations of 1.4%, indicating robust consumer spending that may provide some support for the stock market, despite overall market pressures.
- Fed Nominee Supports Independence: Fed Chair nominee Kevin Warsh emphasized the importance of monetary policy independence and controlling inflation in his Senate Banking Committee statement, which could positively influence market confidence.
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Agnico Eagle Mines Acquires Finnish Gold Projects
- Strategic Acquisition Plan: Agnico Eagle Mines announced a comprehensive plan to consolidate the Central Lapland Greenstone Belt through three transactions, acquiring all shares of Rupert Resources and Aurion Resources, as well as a 70% interest in B2Gold's Fingold JV, which will integrate approximately 2,492 km² of highly prospective land.
- Gold Production Potential: By eliminating property boundaries, the company aims to establish Finland as a multi-decade regional platform capable of producing approximately 500,000 ounces of gold annually within the next decade, significantly enhancing its competitiveness in the global gold market.
- Financial Structure Details: The upfront consideration for the Rupert transaction is valued at approximately $2.871 billion, with shareholders receiving 0.0401 of an Agnico Eagle share per Rupert share and contingent value rights worth up to $3 based on future mineral reserve and production milestones; the Aurion acquisition totals about $481 million, while B2Gold's Fingold interest will be completed for $325 million in cash.
- Expected Transaction Timeline: The Rupert and Aurion transactions are expected to close early in Q3 2026, subject to shareholder and court approvals, and this strategic move will further solidify Agnico Eagle Mines' market position in Finland.
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Analysis of AU Options Contracts and Investment Opportunities
- Put Option Appeal: The current bid for the $105.00 put option is $7.10, and if an investor sells this contract, they commit to buying the stock at $105.00, effectively lowering their cost basis to $97.90, which is approximately a 3% discount from the current price of $108.30, making it attractive for those interested in AU shares.
- Yield Potential Analysis: Should the put option expire worthless, it would yield a 6.76% return on the cash commitment, equating to an annualized return of 38.56%, referred to as YieldBoost, highlighting the potential attractiveness of this investment strategy.
- Call Option Returns: The $110.00 call option has a current bid of $7.80, and if an investor buys AU stock at $108.30 and sells this call, they could achieve an 8.77% total return if the stock is called away at expiration, showcasing the profit potential of this strategy.
- Risk Assessment: Current data indicates a 47% chance that the $110.00 call option may expire worthless, allowing investors to retain both their shares and the premium collected, which enhances the safety and profitability of the investment.
See More
AngloGold Ashanti Announces Capped Cash Tender Offers
- Tender Offer Overview: AngloGold Ashanti Holdings plc announces capped cash tender offers of up to $650 million aimed at repurchasing part of its outstanding bonds, enhancing financial flexibility and reducing debt burden.
- Bond Details: The offers involve 3.375% notes due 2028, 3.750% notes due 2030, and 6.500% notes due 2040, totaling $750 million, $700 million, and $300 million respectively, indicating the company's focus on optimizing its capital structure.
- Tender Acceptance Status: As of April 13, 2026, validly tendered amounts include $558.561 million for the 2028 notes and $446.457 million for the 2030 notes, reflecting a positive market response to the offers.
- Future Outlook: The offers are set to expire on April 28, 2026, and if successfully completed, will enhance the company's financial management capabilities, supporting its long-term strategic objectives.
See More
Ghana's Mining Regulator Mandates Local Contracting for Foreign Firms
- Localization Mandate: Ghana's mining regulator has mandated that Newmont, AngloGold Ashanti, and Zijin transition their mining operations to local contractors by December 2026 or face sanctions, a move aimed at enhancing local firms' capabilities and retaining more value within the country.
- Compliance Deadline: The regulator has issued letters to the three companies requiring full compliance with contract mining regulations by December 2026, despite Newmont's request for an extension to 2027 being denied, indicating the regulator's strict stance on compliance.
- Market Response: Almost all large mining companies have already transitioned to contract mining, with only these three firms still employing their own staff, reflecting Ghana's tightening policies in the mining sector aimed at increasing national revenue and fostering local economic development.
- Consequences of Non-Compliance: Miners failing to adhere to the new regulations will face hefty fines and potential mine shutdowns, which will significantly impact Ghana's mining landscape and promote the rise of local contractors.
See More
NEWMONT SEEKS EXTENSION UNTIL 2027 FOR COMPLIANCE DUE TO LISTING-RELATED LIMITATIONS – SOURCES
Extension Requested: A request has been made for an extension until 2027 to comply with certain regulations.
Citing Constraints: The request cites listing-related constraints as the reason for the extension.
See More
US Stocks Close Lower as Oil Prices Rebound Impact Market
- Market Decline: The S&P 500 index fell by 0.63%, the Dow Jones Industrial Average dropped by 0.59%, and the Nasdaq 100 index decreased by 0.42%, reflecting investor concerns over the uncertainty surrounding Iran's geopolitical situation, which dampened market sentiment.
- Oil Price Rebound Impact: WTI crude oil prices rebounded by over 2% after Iran announced it would not attend peace talks, raising fears of a deepening global energy crisis, which could further hinder economic recovery.
- Supportive Economic Data: March retail sales rose by 1.7% month-over-month, surpassing expectations of 1.4%, indicating robust consumer spending that may provide some support for the stock market, despite overall market pressures.
- Fed Nominee Supports Independence: Fed Chair nominee Kevin Warsh emphasized the importance of monetary policy independence and controlling inflation in his Senate Banking Committee statement, which could positively influence market confidence.
See More
Agnico Eagle Mines Acquires Finnish Gold Projects
- Strategic Acquisition Plan: Agnico Eagle Mines announced a comprehensive plan to consolidate the Central Lapland Greenstone Belt through three transactions, acquiring all shares of Rupert Resources and Aurion Resources, as well as a 70% interest in B2Gold's Fingold JV, which will integrate approximately 2,492 km² of highly prospective land.
- Gold Production Potential: By eliminating property boundaries, the company aims to establish Finland as a multi-decade regional platform capable of producing approximately 500,000 ounces of gold annually within the next decade, significantly enhancing its competitiveness in the global gold market.
- Financial Structure Details: The upfront consideration for the Rupert transaction is valued at approximately $2.871 billion, with shareholders receiving 0.0401 of an Agnico Eagle share per Rupert share and contingent value rights worth up to $3 based on future mineral reserve and production milestones; the Aurion acquisition totals about $481 million, while B2Gold's Fingold interest will be completed for $325 million in cash.
- Expected Transaction Timeline: The Rupert and Aurion transactions are expected to close early in Q3 2026, subject to shareholder and court approvals, and this strategic move will further solidify Agnico Eagle Mines' market position in Finland.
See More
Analysis of AU Options Contracts and Investment Opportunities
- Put Option Appeal: The current bid for the $105.00 put option is $7.10, and if an investor sells this contract, they commit to buying the stock at $105.00, effectively lowering their cost basis to $97.90, which is approximately a 3% discount from the current price of $108.30, making it attractive for those interested in AU shares.
- Yield Potential Analysis: Should the put option expire worthless, it would yield a 6.76% return on the cash commitment, equating to an annualized return of 38.56%, referred to as YieldBoost, highlighting the potential attractiveness of this investment strategy.
- Call Option Returns: The $110.00 call option has a current bid of $7.80, and if an investor buys AU stock at $108.30 and sells this call, they could achieve an 8.77% total return if the stock is called away at expiration, showcasing the profit potential of this strategy.
- Risk Assessment: Current data indicates a 47% chance that the $110.00 call option may expire worthless, allowing investors to retain both their shares and the premium collected, which enhances the safety and profitability of the investment.
See More
AngloGold Ashanti Announces Capped Cash Tender Offers
- Tender Offer Overview: AngloGold Ashanti Holdings plc announces capped cash tender offers of up to $650 million aimed at repurchasing part of its outstanding bonds, enhancing financial flexibility and reducing debt burden.
- Bond Details: The offers involve 3.375% notes due 2028, 3.750% notes due 2030, and 6.500% notes due 2040, totaling $750 million, $700 million, and $300 million respectively, indicating the company's focus on optimizing its capital structure.
- Tender Acceptance Status: As of April 13, 2026, validly tendered amounts include $558.561 million for the 2028 notes and $446.457 million for the 2030 notes, reflecting a positive market response to the offers.
- Future Outlook: The offers are set to expire on April 28, 2026, and if successfully completed, will enhance the company's financial management capabilities, supporting its long-term strategic objectives.
See More
