| AngloGold Ashanti Tumbles in Light of Looming Class-Action Settlement | |
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- By Alberto Abaterusso
AngloGold Ashanti (AU) tumbled 5.3% to $9.90 as a result of reports of a decline in adjusted headline annual earnings to $9 million (or 2 cents per share) from $143 million (or 35 cents per share) in 2016. In early Wednesday trading, the South African gold stock stood at $10 a share, up 1.11%. The bottom line has been impaired due to an estimated $46 million settlement in a class-action suit related to occupational lung disease and retrenchment and restructuring costs of $71 million.
In 2017, AngloGold Ashanti reported a slight 3.3% increase in the production of gold to 3.75 million ounces at an all-in sustain cost (AISC) of $1,054 per ounce of metal sold, from 2016 when the South African miner produced 3.63 million ounces of gold at an AISC of $986 per ounce. The chart below illustrates the trend in AngloGold Ashanti's yearly production of gold over the last five years: The South African gold stock is trading below the 50-SMA line, but slightly above the 100-SMA line and far beyond the 200-SMA line. The 52-week range is $ 8.86 to $13.31 per share. AngloGold Ashanti has a recommendation rating of 2 out of 5 and an average target price of $15.34 per share. (Disclosure:I have no positions in any security mentioned in this article.) This article first appeared on GuruFocus.
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PRODUCER |
CODE : AU |
ISIN : US0351282068 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
AngloGold is a gold exploration company based in South africa. AngloGold produces gold, copper, silver and zinc in Argentina, in Australia, in Brazil, in Canada, in Ghana, in Guinea, in Mali, in Namibia, in South Africa and in Tanzania, develops gold and iron in Australia, in Brazil, in Colombia, in Congo Dem. Rep. of and in South Africa, and holds various exploration projects in Philippines. Its main assets in production are CRIXÁS, MINERAÇÃO, SAO BENTO, ANGLOGOLD ASHANTI MINERAÇAO and CRIXAS MINE in Brazil, SUNRISE DAM GOLD MINE in Australia, NAVACHAB MINE and NAVACHAB in Namibia, YATELA, MORILA and SADIOLA in Mali, CERRO VANGUARDIA in Argentina, MPONENG (WESTERN DEEP NO. 1 SHAFT), TAUTONA (WESTERN DEEP NO.3 SHAFT), BAMBANANI, TAU LEKOA, MPONENG, SAVUKA, TAU TONA, GREAT NOLIGWA, KOPANANG and CRIPPLE CREEK & VICTOR (CRESSON MINE) in South Africa, SIGUIRI in Guinea, TEBEREBIE, IDUAPRIEM, OBUASI and KUBI in Ghana, GEITA in Tanzania and TROUT LAKE MINE and CALLINAN MINE in Canada, its main assets in development are MOAB KHOTSONG in South Africa, MINAS-RIO in Brazil, LA COLOSA and GRAMALOTE in Colombia, KIBALI (KILO-MOTO) in Congo Dem. Rep. of and TROPICANA in Australia and its main exploration properties are HUALATAN and ER in Peru, MKURUMU in Tanzania, 777 PROJECT and RIVARD in Canada, LOUBOUGOULA, GOODPASTER and ALAMOUTALA (SADIOLA II) in Mali, BAMBADJI in Senegal, MORRO VELHO in Brazil and SIANA in Philippines. AngloGold is listed in Australia, in Germany and in United States of America. Its market capitalisation is 1.3 billions as of today (€ 1.2 billions). Its stock quote reached its lowest recent point on November 23, 2018 at 10.00, and its highest recent level on September 20, 2024 at 28.03. AngloGold has 47 442 200 shares outstanding. |