AngloGold Ashanti LimitedNYSE
AngloGold Ashanti: 5 Reasons To Be Bullish
SomaBull • 15 Comments
SomaBull • 15 Comments
Thu, Oct. 13, 11:35 AM
- AngloGold Ashanti’s (AU +0.9%) Obuasi mine in Ghana likely will remain under the control of illegal miners because the government is reluctant to alienate thousands of potential voters before elections, the Kofi Annan Center says.
- Ghana’s Mineral Commission last week gave the illegal miners a deadline of Oct. 10 to vacate the site, but the miners have failed to heed the order, and the Annan Center says they are unlikely to move ahead of parliamentary and presidential elections scheduled for Dec. 7.
- There is no political will to remove the miners “given the dynamics of the tight election,” an Annan director says.
Tue, Oct. 4, 2:20 PM
- Precious metals miners are slammed as gold prices dip well below $1,300/oz. to settle at $1,269.70, its lowest since the U.K.'s Brexit vote in June, as upbeat U.S. manufacturing data yesterday has stoked expectations of higher interest rates.
- Gold is “falling off the cliff,” says Naeem Aslam, chief market analyst at ThinkMarkets. “Traders are buying the equity market with both hands, especially over in the U.K.” as the British pound declines.
- Among precious metals miners today: ABX -9.2%, KGC -10.4%, GG -7.8%, NEM -8.7%, EGO -7.4%, RGLD -7.8%, AEM -8.9%, NG -9.7%, SLW -9.1%, FNV -5.6%, IAG -11.2%, GOLD -8.1%, AU -9.3%, GFI -6.4%, SBGL -8.1%, HMY -9.9%, AUY -11.6%, BTG -9.3%, NGD -6.6%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, SILJ, RING, PSAU, SGDJ, TGLDX, GDJJ, GDXX, GDXS
Wed, Sep. 21, 5:55 PM
- Newmont Mining (NYSE:NEM) was today's best-performing stock in the S&P 500 and precious metals miners gained across the board, enjoying a big boost from the Fed’s decision to keep interest rates unchanged.
- NEM even outperformed the VanEck Vectors Gold Miners ETF (NYSEARCA:GDX) - +7.5% vs. +7% - and Credit Suisse analysts say business in looking up for the miner, as NEM continues to meet or beat cost and production targets, as well as strengthen its portfolio.
- The firm adds that NEM believes shareholders appreciate its predictability, discipline and defining growth based on free cash flow rather than production.
- Also today: ABX +8.6%, GG +7%, AEM +7.1%, EGO +5.7%, KGC +7.6%, SLW +7.8%, FNV +4.8%, RGLD +9.6%, IAG +7.9%, GOLD +4.7%, AU +10.4%, GFI +9%, SBGL +9.5%, HMY +11.8%, AUY +7.6%, BTG +6.3%, NG +8.1%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
Tue, Sep. 6, 5:35 PM
Thu, Sep. 1, 3:44 PM
- The previously hot gold miners had a tough time of it in August, even slipping into bear market territory yesterday. But the names are hot again to start off September, with the GDX higher by 3.5% today. Gold is up 0.4% to $1,317 per ounce.
- S&P, meanwhile, is mulling the possibility of dividend hikes, noting shareholder pressure is likely to lead to higher payouts or share buybacks should gold prices remain near or above current levels. Newmont Mining (NEM +2.6%) has promised to revisit its capital return strategy, Gold Fields (GFI +5.3%) significantly hiked its interim dividend, and AngloGold Ashanti (AU +2.3%) is considering resuming dividends in 2017 after a three-year holiday.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, JNUG, GLDX, JDST, SGDM, ASA, RING, PSAU, SGDJ, TGLDX, GDXX, GDJJ, GDXS, GDJS
Thu, Aug. 25, 5:33 PM
Mon, Aug. 15, 9:26 AM
Mon, Aug. 15, 9:19 AM
- AngloGold Ashanti (NYSE:AU) says it will consider resuming dividend payments next year after last paying a dividend in H1 2013, as higher bullion prices, weaker currencies in countries where it operates and lower interest payments boost free cash flow
- AU's board will meet to discuss what to do with excess cash toward the end of this year and announce any new policy early in 2017, CEO Srinivasan Venkatakrishnan says.
- The comments came as AU reported adjusted H1 earnings of $159M, more than double vs. the same period last year, with gold production of 1.745M oz., in line with AU's full-year guidance range of 3.6M-3.8M oz., and all-in sustaining costs of $911/oz., a $13 Y/Y improvement.
- AU says cash flow tripled to $108M at the end of H1 while net debt fell 32% to $2.1B.
- AU -3.2% premarket.
Fri, Aug. 12, 5:37 PM
Tue, Jul. 26, 12:52 PM
- Barrick Gold (ABX +2.6%) is considering a sale of its 64% stake in African unit Acacia Mining and has approached several South African miners, Reuters reports.
- ABX has reached out to South African miners Harmony Gold (HMY +4.4%), Sibanye Gold (SBGL +5.3%), AngloGold Ashanti (AU +2.6%), Randgold Resources (GOLD +1.3%) and Gold Fields (GFI +5.4%), as well as some Australian and North American miners, according to the report.
- Acacia owns three producing gold mines in Tanzania, as well as exploration projects in the country and other parts of Africa.
Fri, Jul. 22, 7:59 AM
- AngloGold Ashanti (NYSE:AU) says it expects to swing to a net profit in H1, thanks to higher gold prices, cost controls and weaker local currencies that have lowered its operating costs on a dollar-denominated basis.
- In a trading update, AU says it expects to report H1 headline earnings, which strips out exceptional items, of $87M-$99M vs. a $128M loss in the year-ago period.
- AU says its net earnings will benefit from a higher gold price, which rose 1.5% Y/Y to $1,222/oz. in H1, and weaker operating currencies in South Africa, Brazil, Australia and Argentina; it also was helped by continuing to control costs across its portfolio of 17 operations in nine countries.
- The combination helped offset a 7.1% Y/Y decline in H1 gold production to 1.75M oz.
Thu, Jul. 14, 5:36 PM
Fri, Jul. 8, 5:36 PM
Wed, Jul. 6, 9:16 AM
Wed, Jun. 29, 5:49 PM
- AngloGold Ashanti (NYSE:AU) reaches an agreement with Guinea's government to increase gold production in the country by investing more than $400M in the next eight years.
- AU's Guinea operations are at the Siguiri mine in the eastern part of the country, where its local affiliate produces ~300K oz. of gold each year, and the new deal is expected to maintain output and fund new exploration in the area.
- Guinea is a significant producer of bauxite and iron ore and is seeking to expand its gold production.
Fri, Jun. 24, 9:11 AM
- Gainers: AAU +20%. VGZ +18%. MUX +13%. AKG +12%. GPL +13%. GORO +12%. GFI +12%. EMES +12%. GOLD +12%. AU +12%. SBGL +11%. EXK +11%. KGC +10%. HMY +11%. SAND +10%. ABX +10%. EGO +9%. SA +7%. IAG +9%. AUY +9%. CDE 9%. NGD 9%. AEM 8%. NEM 8%. GG 8%. NG 8%. FSM 7%.
- Losers: LYG -27%. BCS -26%. SAN -24%. RBS -23%. AV -23%. BBVA -22%. DB -18%. ING -18%. BT -18%. VNR -11%. TEF -17%. CS -16%. PUK -15%. MT -15%. AEG -14%. RYAAY -13%. UBS -12%. FCAU -12%. GNCA -12%. NOK -12%. BBL -11%. IPI -11%. TOT -11%. ANFI -11%. MNKD -10%. BCEI -8%. VMEM -10%.