Can AngloGold Ashanti Maintain Its Strong Free Cash Flow Growth?
AU
) delivered an impressive seven-fold increase in free cash flow to $407 million in the first quarter of 2025. The jump in free cash flow was primarily attributed to higher gold prices, which added $544 million, while increased volumes accounted for a further $246 million.
Gold production and sales from managed operations were bolstered by the first-time contribution from the recently acquired Sukari Gold Mine in Egypt and solid output improvements at both Siguiri and Tropicana.
Net cash inflow from operating activities was $725 million in the quarter, marking a 188% increase year over year from $252 million. This strong performance was primarily driven by a on higher prices and sales volumes. However, some of these gains were offset by higher volume-related operating costs, reduced dividends from joint ventures and increased tax payments.
After accounting for capital expenditure, loan repayments from Kibali and dividends paid to non-controlling shareholders, AngloGold Ashanti generated a free cash inflow of $403 million. The company closed the quarter with approximately $3.0 billion in liquidity, including $1.5 billion in cash and cash equivalents. Adjusted net debt fell 60% year over year to $525 million, with the adjusted net debt-to-EBITDA ratio improving to 0.15x from 0.86x. AngloGold Ashanti remains focused on maintaining a strong and flexible balance sheet.
In 2024, the company had also demonstrated strong performance with free cash flow reaching $942 million, up 764% from 2023, primarily due to favorable gold pricing. For 2025, AngloGold Ashanti projects gold production of 2.9-3.225 million ounces, indicating 9–21% growth over the prior year. Higher production, combined with the rally in gold prices this year as well as the company's efforts to lower costs, is expected to drive further gains in cash flow this year.
Newmont Corporation NEM achieved a record first-quarter free cash flow of $1.2 billion, marking a significant turnaround from a negative $74 million in the same period a year ago. This substantial improvement came on the back of Newmont's enhanced operational efficiency and the strength of its Tier 1 portfolio. Strong free cash flow positions Newmont to strengthen its balance sheet and pursue strategic growth investments.
Barrick Mining Corporation B reported a free cash flow of $375 million for the first quarter, a nearly 12-fold year-over-year rise. The surge reflects Barrick's higher operating cash flows driven by an uptick in realized gold and copper prices. Barrick reduced net debt by 5% during the quarter, leveraging healthy free cash flow generation.
AU's Price Performance, Valuations & Estimates
AngloGold Ashanti's stock has skyrocketed 125% year to date, outperforming the Zacks Mining – Gold industry's 54.2% growth. During this time, the Basic Materials sector has risen 13.6% and the S&P 500 has rallied 6.8%.
AU is currently trading at a forward 12-month earnings multiple of 10.49X, a discount to the industry average of 12.46X. The stock has a Value Score of B.
The Zacks Consensus Estimate for AngloGold Ashanti's 2025 sales is $8.85 billion, indicating 52.8% year-over-year growth. The consensus mark for the year's earnings is $4.99 per share, indicating year-over-year growth of 125.8%.
The Zacks Consensus Estimate for 2026 sales implies 2.3% year-over-year growth. The same for earnings indicates a decline of 1.3%.
EPS estimates for 2025 and 2026 have been trending north over the past 60 days, as seen in the chart below.
AU currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Newmont Corporation (NEM): Free Stock Analysis Report
AngloGold Ashanti PLC (AU): Free Stock Analysis Report
Barrick Mining Corporation (B): Free Stock Analysis Report
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
National Post
2 hours ago
- National Post
Trigon Metals Reports Fourth Quarter Operational and Financial Results
Article content Article content TORONTO — Trigon Metals Inc. (TSX-V: TM, OTCPK: PNTZF, FRA: TZU2) ('Trigon' or the 'Company') announces it has filed its financial statements for the year ended March 31, 2025 and details below the operational results for the quarter ending March 31, 2025. All amounts are expressed in U.S. dollars, unless otherwise stated. Article content Highlights Article content Copper Production of 310,190 pounds and silver production of 6,878 ounces in Q4 at the Kombat Mine, following operational suspension in January 2025. Net Income: $18.1 million for the quarter, or ($0.38) per share, largely due to reversal of impairments and stream restructuring gains. Adjusted EBITDA (1) was ($906,952), reflecting reduced output and continued care and maintenance of the Kombat Mine. Following the pause of mining operations announced on January 16, 2025, the Company has withdrawn all production, capex and exploration guidance. The Trigon management team is focused on completing the sale of its interests in the Kombat mine to Horizon, as set out below. Mining operations were suspended, with the majority of the onsite employees retrenched. Article content During the quarter ended March 31, 2025, Trigon produced 310,190 pounds of copper and 6,878 ounces of silver prior to halting operations at the Kombat mine due to flooding in January 2025. C1 cash cost was $7.50 per pound. The high cash cost per pound metric was due to the low copper production combined with low copper plant recovery. Revenue totaled $1.92 million, while adjusted EBITDA (1) was ($906,952). Net income was $18.1 million due to the reversal of prior impairments. Article content OP = Open Pit UG = Underground Article content (1)EBITDA, net income (loss) attributable to owners of the Company, income (loss) per share attributable to owners of the Company, net (cash), working capital, C1 cash cost, copper production are non-IFRS measures. These measures do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. Please refer to the Company's discussion of Non-IFRS measures in its Management Discussion and Analysis for the three months ended June 30, 2024. Jed Richardson, CEO and Executive Chairman of Trigon, commented, ' This quarter was shaped by both significant operational challenges and transformative corporate developments. While the flooding at Kombat required us to place operations on care and maintenance, the signing of the definitive agreement to sell Trigon's interest in the mine saved the Company. It strengthens our financial position and allows us to focus our energy and capital on high-potential exploration projects in Morocco and Namibia. We thank our team for navigating this period with resilience and remain optimistic about Trigon's next chapter.' Sale of Trigon's Interest in the Kombat Mine On May 27, 2025, the Company signed a definitive agreement to sell its interest in the Kombat Mine to Kamino Mineral Ltd., an affiliate of Horizon Corporation (the 'Transaction'). The $24 million sale, payable over eight quarterly instalments, includes additional contingent payments tied to copper prices and mill expansion milestones. The Transaction is expected to provide Trigon with near-term liquidity and exposure to future upside at Kombat while redirecting strategic focus to its exploration assets. Article content Private Placement Article content In Q4, Trigon completed a non-brokered private placement in two tranches, raising gross proceeds of $2.53 million. Proceeds were used to fund corporate expenses and maintain the Kombat site during care and maintenance. Article content Strategic Shift to Focus on Exploration Article content Trigon is progressing its exploration campaigns at the Silver Hill and Addana projects in Morocco. The Company's technical team continues to evaluate extensive polymetallic vein systems with potential for near-surface, high-grade mineralization. Article content Work continues at the Kalahari Copperbelt Project in Namibia, where Trigon holds an option to earn up to 70% of a highly prospective land package along strike from producing deposits. A total of $303,742 has been spent toward a $1 million exploration commitment. Article content Qualified Person Article content The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Müller, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101. Article content Non IFRS Measures Article content The Company has included certain non-IFRS performance measures, namely working capital, C1 costs, EBITDA and Adjusted EBITDA throughout this document. In the mining industry, these are common non-IFRS performance measures but do not have a standardized meaning. As a result, these measures may not be comparable to similar measures presented by other companies. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, we and certain investors use this information to evaluate the Company's performance and ability to generate cash, profits and meet financial commitments. Non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As a result, these measures may not be comparable to similar measures presented by other companies. Article content Further details of the financial results, the Q4 and year end financial statement and management discussion and analysis ('MD&A') are available under the Company's profile on SEDAR+ at Article content Trigon Metals Inc. Article content Trigon Metals Inc. is a publicly trading Canadian exploration and development company with a its core focus on copper and silver holdings in mining-friendly African jurisdictions. The Company holds the Kalahari Copperbelt Project in Namibia. In Morocco, the company is advancing two exploration projects; Addana, which hosts silver-bearing veins along with other metals, and Silver Hill, a sedimentary copper prospect that has already undergone drilling. Article content Cautionary Notes Article content This news release may contain forward-looking statements. These statements include statements regarding the Company's mining operations, the financial results of the Company, the timing and results of mining activities, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Kombat mine, the restarting of the Kombat mine, the economic viability of the Kombat mine, the Company's ability to obtain financing, the Transaction, the Company's ability to complete the Transaction, the Company's ability to expand or replace mineral resources and reserves, the projected costs and production at the Kombat mine, planned capital expenditures, the prices of copper and silver, foreign currency exchange rates, and the Company's future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws. Article content Article content Article content
Globe and Mail
3 hours ago
- Globe and Mail
Zacks Investment Ideas feature highlights: MP Materials and Apple
For Immediate Release Chicago, IL – July 30, 2025– Today, Zacks Investment Ideas feature highlights MP Materials MP and Apple AAPL. MP Materials: A Rare Earth Commodity Rare earth elements (REEs) are a group of seventeen rare elements that are essential ingredients for a wide range of modern technologies due to their unique magnetic, luminescent, and electrochemical properties. Zacks Rank #3 (Hold) stock MP Materials is America's only vertically integrated rare earth producer. At its site in Mountain Pass, California, the company mainly mines and processes rare earth elements, particularly Neodymium-Praseodymium (NdPr), which are integral components in high-strength permanent magnets. These rare earth magnets are irreplaceable because, without them, it's impossible to produce electric vehicle motors, wind turbines, robotics, advanced defense systems, and a wide range of consumer electronics such as smartphones. Beyond its California mine, MP Materials is expanding its magnet manufacturing capacity with new facilities in Texas. MP Scores DoD Investment The COVID-19 pandemic highlighted to the world the fragility of the global supply chain. Although tensions between the US and China have cooled somewhat from their peak during the tariff standoff earlier this year, President Donald Trump has insisted that the US onshore and secure critical supply chain components, especially those needed for national security. Because rare earth elements are essential for defense and critical commercial applications, the Department of Defense (DoD) awarded MP Materials a lucrative contract in early July, which includes a $400 million investment in preferred stock and a $150 million loan to help the firm expand its processing capabilities. In addition, DoD has pledged to purchase all of MP's neodymium-praseodymium oxide production from its new facility, ensuring a minimum price that will be paid. Apple Commits $500 Million to MP Materials Tech giant Apple is one of the largest purchasers of rare earth elements globally. On July 15 th, Apple announced that it would invest $500 million into MP Materials to purchase American-made rare earth magnets. Additionally, Apple will use its endless resources to help establish a 'cutting-edge rare earth recycling line in Mountain Pass, California, and develop novel magnet materials and innovative processing technologies to enhance magnet performance.' MP Builds Rare, High-Tight Flag Chart Pattern When it comes to price action, power and distance are often correlated. Following the DoD contract, MP shares bolted 50% in a single trading session as trading volumes soared to seven times the norm. A few weeks later, shares jumped another 20% as volume soared following the Apple news. MP shares have now more than doubled over the past month, forming a classic high-tight flag pattern. While shares may seem extended to amateur investors, such patterns have historically led to robust gains, especially in companies with bullish catalysts like MP. MP Call Flow Deep-pocketed options traders have been piling into December $75 MP calls, suggesting high bullish conviction in the stock into year-end. Bottom Line MP Materials enjoys a monopoly on domestic US rare earth mining and production. In addition to its stranglehold on the rare earth market, MP stands to benefit from significant headwinds, including an investment from the US DoD, and a deal with Apple. Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@ Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release. #1 Semiconductor Stock to Buy (Not NVDA) The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow. One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be. See This Stock Now for Free >> Apple Inc. (AAPL): Free Stock Analysis Report MP Materials Corp. (MP): Free Stock Analysis Report
Globe and Mail
3 hours ago
- Globe and Mail
Ridgeline Minerals and Nevada Gold Mines Commence 6,000-meter Drill Program at the Swift Gold Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2025) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (" Ridgeline" or the " Company") is pleased to announce the commencement of a 6,000-meter program at the Company's Swift gold project ("Swift" or "Project"), currently being operated under an exploration earn-in agreement with Nevada Gold Mines ("NGM") (Figure 1). NGM has approved a 2025 exploration budget of up to US $5,000,000. The drill program will build off the success of the 2024 framework drilling campaign where both holes delivered significant gold intercepts in the SW Swift target area including 1.1 meters ("m") grading 10.4 grams per tonne ("g/t") gold ("Au") within 2.7m grading 7.0 g/t Au in SW24-006 and 24.7m grading 0.5 g/t Au in SW24-007 (see November 7, 2024 PR HERE). Chad Peters, Ridgeline's President, CEO & Director commented, "Swift continues to be a core asset in our exploration portfolio and represents just under 50% of our $11M exploration budget in 2025. The Nevada Gold Mines teams' systematic approach to deep exploration at Swift yielded the first ever high-grade gold intercept in our 2024 program, and we are very excited to see the results of this aggressive drill campaign in 2025." SW Swift Target Four of the five holes are planned to test along strike of previous high-grade gold intercepts (up to 1.1m grading 10.4 g/t Au in SW24-006) at the projected intersection of cross cutting fault zones (i.e., fluid conduits) where they intersect a modeled fold hinge (i.e., fluid trap), on the hanging wall side of the Mill Creek thrust (Figure 2). Mill Creek Target The fifth hole will step several kilometers to the north of SW Swift and test favourable Wenban formation (primary Cortez District host rock) limestones along the hanging wall side of the Mill Creek thrust. Historical drilling in the Mill Creek area intersected up to 3.0m grading 2.1 g/t Au within 18.3m grading 0.6 g/t Au (Figure 2). For a complete table of Swift assay results click HERE To view Long Section A-A' click HERE NGM has incurred a total of US $10,869,000 in qualifying work expenditures at the Project through June 30, 2025, and must spend a minimum of US $20,000,000 in qualifying work expenditures by December 31, 2026, to earn an initial 60% interest in the Project (see September 22, 2021 press release HERE) Figure 1: Plan view map of the Cortez District showing the location of the Swift project and NGM's 2024 drill holes SW24-006 and SW24-007 (white stars) within a broader 4 square kilometer Au footprint (red) To view an enhanced version of this graphic, please visit: Figure 2: Zoomed in plan view map of the Swift property showing prospective mineralized corridors to be drill-tested in 2025 at the SW Swift and Mill Creek target areas To view an enhanced version of this graphic, please visit: Swift Earn-In Terms NGM retains the right to earn an initial 60% interest in the Swift project (see September 22, 2021 press release HERE) over an initial five year term by incurring a minimum of US $20.0 million in qualifying work expenditures. NGM retains the option to increase its interest up to 70% by incurring an additional US$10.0 million in qualifying work expenditures before December 31, 2029. Within 90 days of a joint venture decision to proceed with development and construction of a mine and/or related processing facilities on Swift, NGM will have a one-time option to elect to provide, or arrange for third-party, financing of Ridgeline's portion of debt financing required for the development in consideration, in either case, for an additional 5% interest in the project for a total of 75% (or 65% if the second option was not exercised). QAQC Procedures Samples are submitted to ALS Minerals, Elko Nevada, which is a certified and accredited laboratory, independent of Nevada Gold Mines. Samples are prepared using industry-standard prep methods and analysed using Au-AA23 (Au; 30 g fire assay) and ME-MS61 (48 element Suite; 0.25 g 4-acid digestion/ICP- MS) methods. ALS also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Nevada Gold Mines QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed internally by Nevada Gold Mines technical personnel. Technical information contained in this news release has been prepared under the supervision of, and approved by, Michael T. Harp, CPG, the Company's Vice President, Exploration. Mr. Harp is a "qualified person" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. About Ridgeline Minerals Corp. Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management team and a 200 km 2 exploration portfolio across seven projects in Nevada, USA. The Company is a hybrid explorer with a mix of 100%-owned exploration assets (Big Blue, Atlas, Bell Creek & Coyote) as well as two earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects and a third earn-in with South32 at its Selena project totaling up to US $60 million in combined partner-funded exploration expenditures. More information about Ridgeline can be found at On behalf of the Board "Chad Peters" President & CEO Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release Cautionary Note regarding Forward Looking Statements Statements contained in this press release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the assay results for core hole SW24-004 and the potential significance thereof. The words "potential", "anticipate", "meaningful", "significant", "pending", "believe", "estimate", "expect", "may", "will", "project", "plan", "historical", "historic" and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, Ridgeline has applied several material assumptions, including, but not limited to, assumptions that the current objectives concerning the Swift project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Ridgeline to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to dependence on key personnel; risks related to unforeseen delays; risks related to historical data that has not been verified by the Company; as well as those factors discussed in Ridgeline's public disclosure record. Although Ridgeline has attempted to identify important factors that could affect Ridgeline and may cause actual actions, events, or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Ridgeline does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
