AngloGold Ashanti share price: Q1 results update and trading view
In the below article we summarize Q1 2021 results from AngloGold Ashanti and take a look at how the share price is reacting to the news.
In the below article we summarize Q1 2021 results from AngloGold Ashanti and take a look at how the share price is reacting to the news.
AngloGold Ashanti Q1 results
AngloGold Ashanti the world’s third largest gold producer has seen COVID-19 impacting the group’s production and all in sustaining costs (AISC) over the period. While the amount of gold sold declined from the comparative period, earnings were supported by a higher realized price for the precious yellow metal.
Some of the salient features of the group results are as follows:
- Adjusted Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) increased by 3%
- Adjusted net debt decreased by 43%
- Profit increased by 54% year on year
- Free Cash Flow decreased by $92m
- AISC of $1287/oz realized
The group has recently disposed of its South African assets to local gold mining peer Harmony as it looks to optimize its portfolio and invest in the long term sustainability of the business.
AngloGold Shanti: technical analysis
The share price of AngloGold Ashanti continues to trade within a broad range between levels 29125 (support) and 35300 (resistance.
In the short term we have seen a bullish reversal of support of this range and move out of oversold territory. The move above 30625 considers 33500 as the next upside target. Traders who are long might consider using a close below 29125 as a stop loss indication for the trade.
In Summary
- Q1 2021 saw production levels and costs impacted negatively by COVID-19
- A higher realized gold price has supported earnings for the group
- Q1 Profit increased by 54% year on year
- FCF decreased by $91m
- The share price continues to move within a broad trading range over the medium term
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