AngloGold Ashanti Downgraded Despite Strong Operating Results
Canaccord Genuity downgraded AngloGold Ashanti (NYSE:AU) to a Neutral rating on November 24, 2025. The action occurred with the company's stock priced at $79.81 per share.
The downgrade comes despite a significant year-to-date stock performance, with shares soaring 283.3%. This growth has outpaced the Zacks Mining - Gold industry's 125.2% increase, the Basic Materials sector's 25.3% rise, and the S&P 500's 19.6% gain. The company also outperformed competitors Newmont Corporation and Agnico Eagle Mines, which saw increases of 153.5% and 123.6%, respectively.
In its third-quarter results, AngloGold Ashanti reported a 17% year-over-year increase in gold output to 768,000 ounces. Earnings per share surged by 136% to $1.32, attributed to higher sales and metal prices. However, the company's revenues and earnings fell short of the Zacks Consensus Estimate.
The company's third-quarter free cash flow increased by 141% from the prior year, reaching a record $920 million. A quarterly dividend of $460 million was declared, raising the total dividends for the year to $927 million.
AngloGold Ashanti has also detailed plans for a $100 million investment in its Geita Gold Mine in Tanzania over the next three years. The expansion project is intended to increase the mine's mineral reserves by about 60% and extend its operational life for at least another decade.
Further information is available on the company's history and ownership structure, its corporate mission, its financial health, and its investor profile.
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