AngloGold Ashanti Price Target Raised
RBC Capital raises AngloGold Ashanti price target to $119 following strong growth projections.
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Key Points
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AngloGold Ashanti’s 2.63% daily gain outpaced the S&P 500’s 1.14% rise, the Dow’s 0.61% increase and the Nasdaq’s 1.69% advance.
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The company’s monthly decline of 8.11% was substantially worse than the Basic Materials sector’s 1.36% loss and the S&P 500’s 2.85% decline.
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The Zacks consensus EPS estimate for AngloGold Ashanti rose 0.9% over the past month, and the company currently carries a Zacks Rank of No. 3, or “Hold.”
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Zacks’ full-year forecast implies year-over-year growth of 54% in earnings per share and 25.24% in revenue for AngloGold Ashanti.
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RBC Capital maintained its Sector Perform rating on Sunshine Silver Mining while raising its price target to $16.
AngloGold Ashanti jumped 2.63% to $102.36 on the latest trading day after RBC Capital raised its price target to $119, maintaining an Outperform rating. The rally outpaced broader market gains, though the stock remains down 8.11% over the past month. RBC Capital expects quarterly earnings of $1.88 per share and revenue of $2.95 billion, up 42% and 24% year over year.
RBC Lifts AngloGold to $119 on Earnings Growth
RBC Capital sees upside for AngloGold Ashanti stock. The bank raised its target from prior levels to $119, implying roughly 16% gains from current prices. RBC kept its Outperform rating intact, signaling confidence in the gold miner's trajectory. The new target reflects expectations for strong earnings acceleration through 2024.
Full-year consensus estimates call for $8.27 per share in earnings and $12.19 billion in revenue. That implies 54% earnings growth and 25% revenue growth versus last year. The Zacks consensus EPS estimate rose 0.9% over the past month. AngloGold currently holds a Zacks Rank of 3, or "Hold."
Stock Lags Sector Despite Quarterly Forecast Beats
AngloGold's monthly decline of 8.11% has been much worse than the Basic Materials sector's 1.36% loss. The gold miner has underperformed despite analyst forecasts for strong quarterly results. Earnings per share are expected to reach $1.88 next quarter, with revenue hitting $2.95 billion.
The daily 2.63% gain did outpace the S&P 500's 1.14% rise, the Dow's 0.61% gain, and the Nasdaq's 1.69% advance. But the stock's month-long weakness suggests investors remain cautious despite improving fundamentals and analyst upgrades.
RBC Also Lifts B2Gold and Sunshine Silver Targets
RBC Capital made moves across the precious metals sector. The bank raised its price target for B2Gold from $5.00 to $6.25 while maintaining a Sector Perform rating. B2Gold's latest quarterly earnings and revenue missed consensus estimates, suggesting the target raise reflects longer-term confidence rather than near-term outperformance.
RBC also raised its price target for Sunshine Silver Mining to $16.00 while maintaining a Sector Perform rating. The bank raised targets for Dollarama as well, maintaining its Outperform rating. These moves show RBC's selective optimism on mining and consumer stocks despite mixed near-term earnings results.
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