AngloGold Ashanti Soars 2.96% on Positive Price Targets, Strong Earnings

AngloGold Ashanti (AU) surged 2.96%, reaching its highest level since February 2012, with an intraday gain of 3.52%.

Scotiabank and the Royal Bank of Canada both raised their price targets for AngloGold Ashanti, indicating a positive market sentiment. Scotiabank increased its target from $34 to $42, while the Royal Bank of Canada adjusted its target from $39.00 to $41.00 and gave the stock an "outperform" rating. These adjustments reflect the market's optimism about the company's future performance.

On April 15, 2025, AngloGold Ashanti filed its 2024 Annual Report with the U.S. SEC. The report highlighted strong revenue and profit growth, a stable balance sheet, and robust cash flow. This transparency in financial performance is likely to boost investor confidence and contribute to the stock's favorable positioning in the market.

AngloGold Ashanti also expanded its exploration agreement with Kincora Copper, allowing the company to earn a 70% interest by investing $25 million in exploration over seven years. This strategic move is expected to enhance its resource base and future growth prospects, further supporting the stock's positive outlook.