Is AngloGold Ashanti plc (NYSE:AU) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating AngloGold Ashanti plc at current levels.
Africa's second-largest gold miner is printing $4B of free cash at a 10x forward multiple while the market still treats it like a leveraged bullion proxy.
Where AU is headed
AngloGold in 2028 looks nothing like the company that limped through the 2010s. Free cash flow is running at $4B on a $50B market cap, gross margins sit above 54%, and net debt has effectively been wiped out (D/E of 17% with $4B of annual cash generation is a rounding error). The Geita expansion in Tanzania and the Obuasi ramp in Ghana are producing at all-in sustaining costs well below the spot price, which as of this month is trading north of $3,400/oz. That gap, spot price minus AISC, is what turns a gold miner from a lottery ticket into a compounder. AU is currently living inside that gap.
Read the full Compass Direction on AU
The complete destination call, the overlooked angle, milestones, and bull, base, and bear price scenarios (around $99.60).
See the full AU analysisGet calls like this, free
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Frequently asked questions
Is AngloGold Ashanti plc (NYSE:AU) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating AngloGold Ashanti plc at current levels. Africa's second-largest gold miner is printing $4B of free cash at a 10x forward multiple while the market still treats it like a leveraged bullion proxy.
What is AU's Compass Score?
AngloGold Ashanti plc scores 76/100 on Alexandria's Compass, placing it in the "Favorable" tier. Scores blend eight factors and update weekly.
What is the price target for AU?
Alexandria's full Compass Direction includes bull, base, and bear price scenarios with the valuation math behind each. Read the full breakdown on the AU page.
Compass verdicts are AI-generated, forward-looking editorial research from publicly available data, not investment advice or a recommendation regarding any security. Scores and verdicts update as the data changes.