AngloGold Ashanti reported better-than-expected first quarter revenue on Friday, driven by higher gold production and prices.
The company’s shares jumped 5.16% in pre-market trading after the earnings release.
LONDON - AngloGold Ashanti (NYSE:AU) reported first quarter revenue of $1.93 billion, beating analyst estimates of $1.86 billion, as gold production rose 22% year-over-year to 720,000 ounces. The company’s earnings per share of $0.88 missed expectations by $0.04.
The strong revenue performance was supported by a 39% increase in the average gold price received to $2,874 per ounce. Total cash costs rose 4% to $1,223 per ounce, while all-in sustaining costs increased 1% to $1,640 per ounce.
"This is a very strong start to the year, particularly at our managed operations," said CEO Alberto Calderon. He noted the company saw "strong growth in production with the addition of Sukari and our cost control efforts continue to offset inflation."
AngloGold Ashanti reaffirmed its full-year 2025 production guidance of 2.9-3.225 million ounces at all-in sustaining costs of $1,580-$1,705 per ounce.
The company generated free cash flow of $403 million in Q1, up from $57 million a year ago. It declared a quarterly dividend of 12.5 cents per share.
With gold prices remaining elevated, AngloGold Ashanti appears well-positioned to deliver strong results through 2025 if it can maintain production growth while controlling costs.
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