Goldman Sachs Initiates AngloGold Ashanti (AU) at Buy

Goldman Sachs reiterates a Buy rating on AngloGold Ashanti with a price target increase to $104, a 12.30% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 11:15 AM EDT · Updated Oct 16, 2026, 8:15 PM EDT

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Goldman Sachs started covering AngloGold Ashanti plc ($AU) with a "Buy" rating with a $104 price target on October 15, 2026.

Since the rating, $AU is up 1.4% to date (from the $91.57 close on Oct 15, 2026).

AU AngloGold Ashanti plc

$92.82 +12.30% year to date

Daily close · Oct 16, 2026

Key Points

Goldman Sachs has reiterated its Buy rating on AngloGold Ashanti (AU), raising the price target to $104 from its previous level.
Goldman Sachs's $104 price target implies 12.30% upside from AngloGold Ashanti plc's ($AU) current $92.61 share price.
As of October 15, 2026, AngloGold Ashanti's shares were trading at $92.61, which is significantly below the new target price.
The company's fundamentals show a strong market cap of approximately $51.6 billion and a P/E ratio of 13.66, indicating robust profitability.

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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated AngloGold Ashanti plc alert may contain errors. Disclosures

Goldman Sachs has reiterated its Buy rating on AngloGold Ashanti plc (AU) with a new price target of $104. This rating comes as of October 15, 2026, with shares trading at $92.61 at the time. The previous price target was not available, but this adjustment points to a positive outlook for the gold mining company.

Analyst rating track record

Goldman Sachs vs. the S&P 500

YTD return -4.99% hypothetical

All-time return -4.99% S&P 500 +4.10%

vs. S&P 500 -9.09% behind the index

Hypothetical returns from Goldman Sachs's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in AngloGold Ashanti

BlackRock Inc. grew its holdings by 721,585 shares, ending with 31,040,264 shares valued at about $2.85 billion. Vanguard Capital Management LLC added 209,839 shares, bringing its total to 16,732,620 shares worth approximately $1.53 billion. In contrast, FMR, LLC trimmed its position, selling 1,958,150 shares, resulting in holdings of 16,549,887 shares valued at roughly $1.52 billion. Van Eck Associates Corporation decreased its stake by 708,465 shares, now holding 18,033,983 shares worth about $1.65 billion, while Ninety One SA (PTY) Ltd increased its position by 203,745 shares, totaling 11,398,551 shares valued at about $1.05 billion.

AngloGold Ashanti plc Stock Up 1.1%

The stock price of AngloGold Ashanti at $92.61 is below its 52-week high of $129.14, which suggests it trades at an attractive valuation relative to its peak. The company's shares have fluctuated between $62.55 and $129.14 over the past year, indicating notable volatility in the market.

12-month forecast

$AU price target

AngloGold Ashanti plc daily closes and this analyst's $104 target. Not advice.

Recent Earnings

In its most recent earnings report, AngloGold Ashanti reported revenue of approximately $11.83 billion, showing a revenue growth rate of 27%. The company has an EPS of $7.46 and a net margin of 32.2%. The next earnings report is scheduled for November 5, 2026.

Dividend

AngloGold Ashanti pays a dividend rate of $4.52, which translates to a dividend yield of 4.38%. The company has a payout ratio of 61.66%, reflecting a balanced approach to returning value to shareholders while retaining earnings for growth.

Insider Buying and Selling at AngloGold Ashanti plc

Director Busia Kojo Osei Frimpong sold 400 shares at an average price of $89.09 on May 19, 2026, totaling approximately $35,637. This transaction was not part of a planned selling program.

Analysts Set New Price Targets

On October 15, 2026, Goldman Sachs reiterated its Buy rating on AngloGold Ashanti with a price target of $104. Earlier, on September 16, 2026, RBC Capital maintained an Outperform rating with a price target of $119, up from $111. JP Morgan also kept an Overweight rating, raising its target to $140 from $134 on September 15.

About AngloGold Ashanti

AngloGold Ashanti plc operates as a gold mining company with a presence in Africa, Australia, and the Americas. The company explores for gold and related by-products, including silver and sulphuric acid. Its flagship property, the Geita mine, is located in the Lake Victoria goldfields of Tanzania. This update on Goldman Sachs' outlook aligns with the company's ongoing efforts to enhance shareholder value.

Bottom Line

Investors should keep an eye on AngloGold Ashanti as it prepares for its next earnings report on November 5, 2026. Goldman Sachs' updated rating reflects a positive sentiment toward the gold mining sector. Note that this analyst rating is based on data available as of October 15, 2026, and may not represent current market conditions.