AngloGold Ashanti announces $2 billion buyback and record interim dividend
Updated
Updated · The Wall Street Journal · May 8
AngloGold Ashanti announces $2 billion buyback and record interim dividend
7 articles · Updated · The Wall Street Journal · May 8
The miner set the dividend at $1.16 a share after quarterly EBITDA more than doubled to $2.29 billion and free cash flow hit a record $1.2 billion.
Average realised gold prices rose to $4,863 an ounce from $2,874 a year earlier, while higher production volumes helped offset a near 20% increase in all-in sustaining costs to $1,955.
AngloGold said it moved to net cash of $868 million from $755 million of net debt a year earlier, and maintained full-year guidance despite rising costs.
As mining costs soar, can AngloGold's record profits last, or is a sharp correction imminent for investors?
With profits booming, how will gold miners navigate governments' push for 'windfall taxes' and higher royalties?
Central banks are now selling gold. Does this signal the end of the price rally for miners like AngloGold?