Can AngloGold Ashanti Finish 2025 With Strong Free Cash Flow Growth?

Core Insights - AngloGold Ashanti plc reported a significant 185% increase in free cash flow for the first nine months of 2025, reaching $1.86 billion, with a record $920 million in Q3, driven by cost discipline, higher production, and rising gold prices [2][10] - The company achieved a net cash inflow from operating activities of $3.17 billion, a 147% year-over-year increase, supported by solid gold sales and increased dividends from joint ventures, despite higher operating costs and tax payments [3] - AngloGold Ashanti's gold production rose 20% year-over-year to 2.292 million ounces, bolstered by contributions from the Sukari mine and improved performances at key assets [5][10] Financial Performance - The available liquidity as of September 30, 2025, was $3.9 billion, including cash and cash equivalents of $2.5 billion [4] - The company affirmed its 2025 production guidance of 2.900-3.225 million ounces, indicating a year-over-year growth of 9-21% [6][10] - AngloGold Ashanti's stock has appreciated 282.7% over the past year, outperforming the Zacks Mining – Gold industry, which saw a 151.8% increase [9] Valuation and Estimates - The forward 12-month earnings multiple for AngloGold Ashanti is 111.13X, which is discounted compared to the industry average of 13.61X [12] - The Zacks Consensus Estimate for 2025 sales is $9.67 billion, reflecting a 66.9% year-over-year increase, with earnings estimated at $5.51 per share, a 149.3% rise [14] - EPS estimates for 2025 have increased by 3.8% over the past 60 days, while 2026 estimates have risen by 29.6% [15]