AngloGold Ashanti
AU on NYSE. Gold and silver ores. Market value $48.0bn.
This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Materials stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: not known. Our list needs 70 on quality and 60 on price.
$93.55 a share, 50% above its 1-year low
Over the past year the price has ranged from $62.55 to $129.14.
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||
| Revenue | n/a | n/a | n/a |
| Operating margin | |||
| Operating margin | n/a | n/a | n/a |
| Debt to equity | |||
| Debt to equity | n/a | n/a | n/a |
| Shares outstanding | |||
| Shares outstanding | 0.42bn | 0.50bn | 0.51bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Not enough data
- DebtUnknown
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 20% more shares since 2023
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 26 March 2026
- Next quarterly (estimated, 10-Q)
- n/a
Who owns it
6 long-term investors we follow own it, down from 7 last quarter. 559 funds in all.
- Oaktree Capital ManagementHoward Marks
- Value
- $257m
- Share of fund
- 6.8%
- Orbis Investment ManagementOrbis team (Allan Gray lineage)
- Value
- $30m
- Share of fund
- 0.1%
- Boston PartnersBoston Partners team
- Value
- $384,710
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Oaktree Capital ManagementHoward Marks | $257m | 6.8% | |
| First Eagle Investment ManagementMatthew McLennan | $241m | 0.2% | Added |
| Causeway Capital ManagementSarah Ketterer | $56m | 0.6% | Cut |
| Orbis Investment ManagementOrbis team (Allan Gray lineage) | $30m | 0.1% | |
| GAMCO InvestorsMario Gabelli | $7m | <0.1% | Cut |
| Boston PartnersBoston Partners team | $384,710 | <0.1% |
Sold out this quarter
Largest holders overall
- BlackRock$2.5bnAdded
- Banque Cantonale Vaudoise$2.2bn
- VAN ECK Associates$1.5bnCut
- Vanguard Capital Management$1.3bn
- FMR$1.3bnCut
- Ninety One SA (Pty)$907mCut
- Geode Capital Management$523mAdded
- State Street$482m
- Deutsche Bank AG$466m
- Legal & General Group$449mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- BlackRock, Inc.Passive investor8.2%+1.1 ptsSince 30 June 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 8.2%+1.1 pts | 30 June 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 1 sold $35,636.
- Busia Kojo Osei FrimpongDirectorSold
- Date
- 19 May 2026
- Shares
- 400
- Price
- $89.09
- Value
- $35,636
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 19 May 2026 | Busia Kojo Osei Frimpong Director | Sold | 400 | $89.09 | $35,636 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
AngloGold Ashanti doesn’t file a US annual report (10-K), so we haven’t checked it.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.