AngloGold Ashanti: 5 Reasons To Be Bullish
SomaBull • 15 Comments
SomaBull • 15 Comments
AngloGold Ashanti: The Restructuring Plan Could Fail
Thu, Jul. 14, 5:36 PM
Fri, Jul. 8, 5:36 PM
Wed, Jul. 6, 9:16 AM
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%.
Wed, Jun. 8, 9:16 AM
Mon, Jun. 6, 12:39 PM
- Gold Fields (GFI -3.5%) says it is interested in buying AngloGold Ashanti’s (AU -1.5%) Iduapriem mine in Ghana, as it seeks to increase production from west Africa by about two-thirds to 1M oz.
- GFI's VP for West Africa says the company is interested in the mine because of its proximity to its Tarkwa mine in southern Ghana; Tarkwa is the bigger of the two mines, producing 140K oz. during Q1 vs. Iduapriem’s 46K oz.
- The GFI exec says the company also is looking for opportunities to buy mines in Mali, Burkina Faso and Senegal.
Fri, Jun. 3, 3:58 PM
- Gold miner stocks are skyrocketing, with the sector enjoying its best day in nearly seven years, as the disappointing May jobs report helped spark a strong rally in the yellow metal.
- The VanEck Vectors Gold Miners ETF (GDX +11.1%) surged more than 10% on heavy volume, and all 24 of the ETF’s U.S. equity components traded higher, with 10 of them enjoying double-digit percentage gains.
- In today's trade: ABX +12.9%, NEM +9.5%, GG +7.7%, AEM +11.1%, OTCPK:NCMGY +10.7%, KGC +15.4%, SLW +9%, FNV +9.1%, RGLD +9.4%, EGO +9.8%, GFI +13.7%, SBGL +8.2%, HMY +13%, IAG +16.4%, AU +14.4%, GOLD +8.6%, AUY +13.9%, NGD +9.6%, HL +12.1%, CDE +11.6%, TAHO +10.8%, NG +12.2%, AG +12.3%, PAAS +8.9%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, RING, PSAU, SGDJ, TGLDX, GDXX, GDJJ, GDXS, GDJS
Fri, Jun. 3, 9:16 AM| Fri, Jun. 3, 9:16 AM | 26 Comments
Wed, Jun. 1, 5:41 PM
Tue, May 17, 12:27 PM
- George Soros, who once called gold “the ultimate bubble,” has resumed buying the yellow metal after a three-year absence, disclosing during Q1 he bought 1.05M shares in the SPDR Gold Trust ETF (GLD +0.3%) valued at $123.5M, while also doubling his wager against the S&P 500.
- Soros Fund also made a big bet on miner Barrick Gold (ABX +3.1%), adding a $263.7M stake and raising its ownership to 19.4M shares, making it Soros’ largest U.S.-listed holdings and giving him a 1.7% stake.
- Otherwise, Soros continued to unwind his commodity exposure, selling off positions in Kinder Morgan (KMI +4.3%) and Baker Hughes (BHI +2.8%) - stakes which were just opened in Q4 - as well as Dow Chemical (DOW +0.9%) and Penn Virginia (NYSE:PVA).
- But other prominent investors have started to take profits; John Paulson’s hedge fund cut its stake in the SPDR Gold Trust to 4.8M shares from 5.8M and its stake in AngloGold Ashanti (AU -1%) to 15.2M shares from 22.9M.
Mon, May 9, 12:50 PM
Mon, May 9, 9:14 AM
Mon, May 9, 7:58 AM
- AngloGold Ashanti (NYSE:AU) -6.9% premarket after its Q1 earnings results include a 6% Y/Y decline in EBITDA to $378M from $402 in the year-ago quarter, reflecting a 3% decline in the realized gold price and reduced production.
- AU says total Q1 gold production fell 7% Y/Y to 861K oz. and 14% Q/Q, but keeps its full-year outlook unchanged at 3.6M-3.8M oz.
- Free cash flow in the quarter reached $70M vs. an outflow of $40M in the year-ago quarter, and net debt was trimmed to $2.12B from $2.19B at the end of December.
- AU says total Q1 cash costs averaged $702/oz., and it expects a full-year average of $680-$720/oz.
- AU says the lower Q1 output from continuing operations was due mainly to planned reductions from its Obuasi, Tropicana and Morila mines, as well as an unanticipated drop in production from its Kibali joint venture.
- Now read AngloGold files dispute with Ghana over illegal miners
Wed, Apr. 13, 9:06 AM
- AngloGold Ashanti (NYSE:AU) -3.6% premarket after saying that illegal miners have taken control of areas at its Obuasi mine in Ghana that hold the richest deposits of gold.
- AU says it has it has "grave and mounting concerns" about illegal mining and looting at Obuasi, which has been idle since 2014 when the company laid off thousands of workers.
- AU warns it may consider its options as an investor if the illegal takeover continues; AU is seeking a partner to redevelop the mine, but talks with Randgold Resources fell apart in December.
- Now read RBC upgraded AngloGold Ashanti: A good long-term candidate
Mon, Apr. 11, 12:39 PM
- Gold miners are surging amid higher gold prices and a positive research note from RBC Capital, as the Market Vectors Gold Miners ETF (GDX +4.9%) powers higher with all 39 of its equity components rising.
- Kinross Gold (KGC +6.9%) and AngloGold Ashanti (AU +4.9%) are upgraded to Outperform at RBC, citing valuation amid an increase in the firm's 2016 gold price outlook to $1,250/oz. from $1,150; the firm says KGC's production profile has improved with the 2015 acquisition of mines from Barrick Gold (ABX +5.6%) and the planned Tasiast expansion, while AU represents the most robust opportunity in its South African coverage, supported by a diverse, low cost asset portfolio.
- Goldcorp (GG +3.8%) is sharply higher despite RBC's downgrade to Underperform, as the firm believes shares trade at a significant premium to Tier 1 peers and management needs to re-establish investor confidence in operations and strategy.
- Also: NEM +5.7%, AEM +4.9%, FNV +2.9%, HMY +3.8%, EGO +7.9%, NG +7.6%, HL +4.4%, GFI +3.1%, GOLD +1.7%, SBGL +6%, SLW +4.2%.
- Other ETFs: NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
- Now read Kinross Gold: Analyst estimates following the news on Tasiast mine expansion
Mon, Apr. 11, 9:21 AM
AngloGold Ashanti Ltd. is a gold mining and exploration company. Its main business includes gold exploration, mining and production of gold, manufacturing, marketing and selling of gold products. AngloGold Ashanti was founded in 1944 and is headquartered in Johannesburg, South Africa.
Sector: Basic Materials
Country: South Africa
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