AngloGold Ashanti shares climb on record 2025 cash flow, hefty dividend, and fresh 2026 outlook

AngloGold Ashanti (AU) is up 6.2% today. Here is some analysis on what might have caused this price movement.

Analysis: The rally appears tied to the company’s newly released Q4 and full-year 2025 results, which highlighted record free cash flow and a large Q4 interim dividend. Investors may also be responding to management’s 2026 production outlook and commentary that signaled confidence in continued cash generation.

Details:

The company reported record free cash flow of $2.9 billion for 2025 and adjusted EBITDA of $6.3 billion, supported by higher realized gold prices, production growth, and cost discipline.

A Q4 interim dividend of $875 million (173 cents per share) was declared, taking total dividends declared for 2025 to $1.8 billion (357 cents per share).

Full-year 2025 gold production increased to 3.1 million ounces, while the average gold price received rose to $3,468/oz versus the prior year.

Management issued 2026 production guidance of roughly 2.80–3.17 million ounces, with cost guidance reflecting higher royalty impacts and inflation.

Sources:

AngloGold Ashanti, U.S. SEC, Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$AU Hedge Fund Activity

We have seen 280 institutional investors add shares of $AU stock to their portfolio, and 209 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

NINETY ONE SA (PTY) LTD added 15,960,934 shares (+inf%) to their portfolio in Q4 2025, for an estimated $1,361,148,451
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 5,047,686 shares (+406.9%) to their portfolio in Q4 2025, for an estimated $430,466,662
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 4,154,965 shares (-76.1%) from their portfolio in Q4 2025, for an estimated $354,335,415
FIL LTD removed 3,419,251 shares (-64.6%) from their portfolio in Q4 2025, for an estimated $291,593,725
NORGES BANK added 3,317,494 shares (+203.1%) to their portfolio in Q4 2025, for an estimated $282,915,888
FMR LLC removed 2,276,521 shares (-12.3%) from their portfolio in Q4 2025, for an estimated $194,141,710
AQR CAPITAL MANAGEMENT LLC added 2,042,357 shares (+5109.9%) to their portfolio in Q4 2025, for an estimated $174,172,204

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$AU Analyst Ratings

Wall Street analysts have issued reports on $AU in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Citigroup issued a "Buy" rating on 01/20/2026
JP Morgan issued a "Overweight" rating on 12/03/2025
Scotiabank issued a "Sector Outperform" rating on 11/12/2025

To track analyst ratings and price targets for $AU, check out Quiver Quantitative's $AU forecast page.

$AU Price Targets

Multiple analysts have issued price targets for $AU recently. We have seen 4 analysts offer price targets for $AU in the last 6 months, with a median target of $125.5.

Here are some recent targets:

Tanya Jakusconek from Scotiabank set a target price of $131.0 on 01/26/2026
Ephrem Ravi from Citigroup set a target price of $120.0 on 01/20/2026
Joe Reagor from Roth Capital set a target price of $92.0 on 12/15/2025
Patrick Jones from JP Morgan set a target price of $131.0 on 12/03/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.