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AU Registers 72% Y/Y Surge in 2025 Revenues: More Upside Ahead?
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Key Takeaways
AngloGold Ashanti reported $9.73B in 2025 revenues, up 71.5% y/y, driven by higher gold output and prices.
Sukari's first full-year output of 500K ounces, and gains at Obuasi and Siguiri boosted production.
AngloGold Ashanti expects 2026 output of 2.80-3.17M ounces as increasing gold prices support the revenue view.
AngloGold Ashanti PLC (AU - Free Report) posted gold revenues of $9.73 billion in 2025, which surged 71.5% year over year. This was driven by a 16% year-over-year increase in gold production in the year and higher metal prices.
The upside in gold production was attributed to the contributions from the recently acquired Sukari mine, which marked its first full-year contribution and reported a production of 500 thousand ounces in 2025. The production was also driven by a 20% year-over-year increase in Obuasi, a 6% rise in Siguiri and 2% growth in Geita. Cuiaba’s production also increased 1%, while Vanguardia rallied 2%.
Gold production for 2026 is projected at 2.80-3.17 million ounces. This suggests a year-over-year dip of 3% at mid-point due to cost pressures. The company expects 2027 production to be fairly at the same level as 2026, driven by continued ramp-up at Obuasi.
Nonetheless, AU is gaining from the increase in gold prices in 2026 after having a solid performance in 2025. Gold prices have surged 74.8% in a year. The metal has been supported by geopolitical tensions, tariff concerns and continuous purchasing by central banks. Gold prices are currently trending above $5,083 per ounce. The upside in gold price and solid contribution from key assets have set an optimistic tone for AngloGold Ashanti’s 2026 revenues.
Newmont Corporation (NEM - Free Report) reported 2025 revenues of $22.8 billion, marking a year-over-year increase of 21.3%. For 2026, Newmont expects 5.3 million gold ounces, including 3.9 million gold ounces from Newmont's managed operations.
Agnico Eagle Mines (AEM - Free Report) reported 2025 revenues of $11.91 billion, marking a year-over-year increase of 43.7%. Agnico Eagle Mines’ three-year guidance reflects stable production. Agnico Eagle Mines expects production of 3.3-3.5 million ounces annually from 2026 to 2028.
AU’s Price Performance, Valuations & Estimates
AngloGold Ashanti’s stock has rocketed 266.8% in a year, outperforming the Zacks Mining – Gold industry’s 148.7% upsurge. Meanwhile, the Basic Materials sector has soared 52.1% and the S&P 500 has rallied 24%.
Image Source: Zacks Investment Research
The AU stock is currently trading at a forward 12-month earnings multiple of 12.80X, which is a discount to the industry average of 13.44X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AngloGold Ashanti’s 2026 sales is $11.98 billion, indicating a 23.1% year-over-year jump. The consensus mark for the year’s earnings is pegged at $9.27 per share, suggesting a year-over-year upsurge of 72.6%.
The Zacks Consensus Estimate for 2027 sales implies a 14.3% year-over-year dip. The same for earnings suggests a dip of 1.8%.
EPS estimates for 2026 have moved 18.7% north over the past 60 days, while the same for 2027 has moved down 9.7% over the past 60 days.
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AU Registers 72% Y/Y Surge in 2025 Revenues: More Upside Ahead?
Key Takeaways
AngloGold Ashanti PLC (AU - Free Report) posted gold revenues of $9.73 billion in 2025, which surged 71.5% year over year. This was driven by a 16% year-over-year increase in gold production in the year and higher metal prices.
The upside in gold production was attributed to the contributions from the recently acquired Sukari mine, which marked its first full-year contribution and reported a production of 500 thousand ounces in 2025. The production was also driven by a 20% year-over-year increase in Obuasi, a 6% rise in Siguiri and 2% growth in Geita. Cuiaba’s production also increased 1%, while Vanguardia rallied 2%.
Gold production for 2026 is projected at 2.80-3.17 million ounces. This suggests a year-over-year dip of 3% at mid-point due to cost pressures. The company expects 2027 production to be fairly at the same level as 2026, driven by continued ramp-up at Obuasi.
Nonetheless, AU is gaining from the increase in gold prices in 2026 after having a solid performance in 2025. Gold prices have surged 74.8% in a year. The metal has been supported by geopolitical tensions, tariff concerns and continuous purchasing by central banks. Gold prices are currently trending above $5,083 per ounce. The upside in gold price and solid contribution from key assets have set an optimistic tone for AngloGold Ashanti’s 2026 revenues.
Newmont Corporation (NEM - Free Report) reported 2025 revenues of $22.8 billion, marking a year-over-year increase of 21.3%. For 2026, Newmont expects 5.3 million gold ounces, including 3.9 million gold ounces from Newmont's managed operations.
Agnico Eagle Mines (AEM - Free Report) reported 2025 revenues of $11.91 billion, marking a year-over-year increase of 43.7%. Agnico Eagle Mines’ three-year guidance reflects stable production. Agnico Eagle Mines expects production of 3.3-3.5 million ounces annually from 2026 to 2028.
AU’s Price Performance, Valuations & Estimates
AngloGold Ashanti’s stock has rocketed 266.8% in a year, outperforming the Zacks Mining – Gold industry’s 148.7% upsurge. Meanwhile, the Basic Materials sector has soared 52.1% and the S&P 500 has rallied 24%.
The AU stock is currently trading at a forward 12-month earnings multiple of 12.80X, which is a discount to the industry average of 13.44X.
The Zacks Consensus Estimate for AngloGold Ashanti’s 2026 sales is $11.98 billion, indicating a 23.1% year-over-year jump. The consensus mark for the year’s earnings is pegged at $9.27 per share, suggesting a year-over-year upsurge of 72.6%.
The Zacks Consensus Estimate for 2027 sales implies a 14.3% year-over-year dip. The same for earnings suggests a dip of 1.8%.
EPS estimates for 2026 have moved 18.7% north over the past 60 days, while the same for 2027 has moved down 9.7% over the past 60 days.
AU currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.