AngloGold Ashanti Share Price JSE: ANG Heads for R2,000 on Extra Dividend Expectations and Gold Rebound
Investor focus is returning to AngloGold Ashanti as expectations for strong Q4 earnings, a potential extra dividend, and a rebound in gold..
Quick overview
- Investor interest in AngloGold Ashanti is increasing due to expectations of strong Q4 earnings and a potential extra dividend.
- The company's recent rebound follows a brief decline in gold prices, supported by improving sentiment in the gold sector.
- AngloGold Ashanti reported a significant increase in free cash flow and a strong quarterly dividend, reflecting its commitment to returning value to shareholders.
- The stabilization of gold prices enhances revenue visibility and supports the company's strategy of focusing on high-quality assets.
Investor focus is returning to AngloGold Ashanti as expectations for strong Q4 earnings, a potential extra dividend, and a rebound in gold prices improve sentiment toward the miner.
AngloGold Ashanti Rebounds Ahead of Earnings
AngloGold Ashanti has resumed its upward trajectory following a brief pause triggered by last week’s temporary decline in gold prices. The rebound comes as improving sentiment across the gold sector, combined with expectations for robust quarterly earnings, strengthens investor confidence in the company’s near-term outlook.
Dividend Expectations Support Investor Interest
Market speculation suggests that AngloGold Ashanti may announce a top-up dividend alongside its upcoming Q4 2025 results, reinforcing management’s commitment to returning approximately half of free cash flow to shareholders. Such a move would underline the company’s improved profitability profile and continued focus on disciplined capital allocation.
Gold Market Recovery Adds Momentum
The recent stabilization and recovery in gold prices have also contributed to renewed interest in gold mining stocks. For AngloGold Ashanti, stronger bullion prices enhance revenue visibility and support the company’s strategy of optimizing its portfolio toward high-quality Tier-1 assets, which are expected to drive sustainable production and margins over the long term.
Overall, the combination of dividend expectations, stronger earnings prospects, and improving gold-market conditions positions AngloGold Ashanti as a closely watched name heading into its Q4 results announcement.
Rally Resumes After The Flash Dip
Following an impressive year-long surge, AngloGold Ashanti’s (JSE: ANG) stock faced a pullback in late January as gold prices tumbled lower from nearly $6,000 to $4,400, losing around 25% of the value, which led to a deep pullback in ANGJ shares to R1,260, down 33% in just a few days, from the record highs of R1,885.
ANGJ Chart Daily – The 100 SMA Held As Support
Yet, the correction found technical support at key moving averages, and buyers came back in force, , signaling a revival in the broader uptrend, as Gold climbed above $5,000.
ANGJ Chart Weekly – Off to New Highs As the 20 SMA Keeps Holding
On the weekly chart, ANGJ shares have been found support at the 20-day simple moving average (gray) which was broken early last week during the pullback but the price soared back up, bolstered by positive earnings and a firmer gold price, suggests that the recent correction may have been a healthy consolidation within a longer-term uptrend.
AngloGold Ashanti Q3 2025 Results Overview
Strong Cash Generation and Dividend Boost
- Free cash flow surged 141% year-on-year to a record $920 million, supported by higher gold prices and tight cost control.
- The company declared a quarterly dividend of $460 million, bringing total dividends for 2025 to $927 million.
- Annual guidance for 2025 was reaffirmed, signaling continued operational confidence.
Production and Gold Price Highlights
- Group gold output increased 17% year-on-year, led by strong performances from Obuasi (Ghana), Geita (Tanzania), Cuiabá (Brazil), Kibali (DRC), and the addition of Sukari (Egypt).
- The average gold price received rose 40% to $3,490/oz in Q3 2025, compared with $2,486/oz a year earlier.
- This price strength translated into a 94% rise in operational cash generation, underpinned by efficient cost management.
Financial Performance and Balance Sheet Strength
- Adjusted EBITDA jumped 109% to $1.6 billion, up from $746 million in Q3 2024.
- Headline earnings rose 185% to $672 million, or $1.32 per share, versus $236 million ($0.56/share) last year.
- Net cash from operations climbed 134% to $1.4 billion, boosting quarterly free cash flow.
- The company transitioned from adjusted net debt to adjusted net cash of $450 million by September 30, 2025.
- Liquidity remained strong at $3.9 billion, including $2.5 billion in cash and equivalents.
Dividend Decision and Policy Update
- The interim dividend of 91 US cents per share includes the minimum 12.5 cents plus an additional payout reflecting half of Q3 free cash flow.
- The Board opted to pay this earlier than year-end, citing robust cash flow and confidence in future performance.
Operational Discipline and Safety
- AngloGold maintained a Total Recordable Injury Frequency Rate (TRIFR) of 0.96 per million hours worked, well below industry norms, underscoring its strong safety culture.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
- Read our latest reviews on: Avatrade, Exness, HFM and XM
Save