• Reported GAAP EPS of $1.68 up 63.11% YoY • Reported revenue of $3.07B up 75.31% YoY • AngloGold Ashanti forecasts 2026 gold production between 2.80Moz and 3.17Moz. Total cash costs per ounce are forecast to range from $1,315/oz to $1,430/oz, and AISC per ounce from $1,780/oz to $1,990/oz.
Bullish
AngloGold Ashanti achieved record free cash flow of $2.9bn and Adjusted EBITDA of $6.3bn in 2025, driven by 16% gold production growth and a 17% increase in Mineral Reserves.
Bearish
AngloGold Ashanti faces increasing total cash costs, up 7% in 2025 due to higher royalties and inflation, with production decreases at several key mines. Operational challenges and regulatory risks also impacted free cash flow.