CluenexAngloGold Ashanti AU
AngloGold Ashanti scores excellent on business quality (9.1 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What AngloGold Ashanti does
AngloGold Ashanti extracts and processes gold across global mining assets, selling the precious metal to institutional buyers and refiners.
- What it does best
AngloGold generates elite returns on equity, posting an ROE of 45.8% that outpaces peer Newmont's 25.1%. This edge stems from high-grade ore bodies and efficient extraction scale that smaller rivals cannot easily replicate.
- The main risk
Inflation in mining inputs and labor costs directly threatens operating margins if gold prices stall. With production concentrated across complex international jurisdictions, operational disruptions quickly eat into cash generation.
Quality, check by check
Scored against its own industry, from company filings.
Operating margins sit at 49.7% and FCF margin at 36.6%, both expanding rapidly as fixed costs are leveraged over surging output. The business becomes drastically more profitable with every dollar of scale.
Scale and high-grade mineral reserves form a tangible asset moat that ranks in the top decile for the sector, locking out low-tier competitors who lack the capital for multi-billion-dollar mine development.
Revenue growth hit 70.8%, surging past its historical baseline as output and realization prices scale rapidly. This explosive top-line acceleration outpaces nearly the entire basic materials sector.
Debt-to-equity sits low at 0.3, backed by $2.9B in cash and a net cash position of $624M. Free cash flow surged to $4.3B, pointing to a rapidly strengthening balance sheet.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
No open market buys or unplanned sales by executives or directors.
Our sealed record on AU
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
AngloGold Ashanti scores excellent on the Cluenex quality check (9.1 of 10), measured against its own industry. Profitability is strong, moat strong, growth fast and financial health strong.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Nov 5, 2026.
See AU today
- Today's verdict on AU, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “AngloGold Ashanti (AU)”, https://cluenex.com/stocks/au/, data as of Oct 10, 2026.