10 Best Gold Stocks Under $30

5. AngloGold Ashanti plc (NYSE:AU)

Upside potential as of November 18: 35.52%

Share Price as of November 18: $24.82

AngloGold Ashanti plc (NYSE:AU) is one of the gold miners. As by-products, the firm also makes sulfuric acid and silver. It has three operating divisions: Africa, Australia, and the Americas. The company’s operations at the Kibali, Iduapriem, Obuasi, Siguiri, and Geita mines in Africa provide for the majority of its revenue. AU is up by over 38% since the start of 2024, which places it on our list of the best gold stocks.

AngloGold Ashanti plc (NYSE:AU) had a strong third quarter in 2024, with its managed operations producing the largest quantity of gold in 2024 and a noteworthy 339% rise in adjusted EBITDA over the prior year. Revenue increased 31% year over year, mostly as a result of increased production from managed operations, efficient cost control, and higher gold prices, which rose 28% year over year to $2,449/oz. About 1.56% more gold was produced by managed operations YoY.

In Q3 2024, AngloGold Ashanti plc (NYSE:AU)’s free cash flow increased 17-fold as the average gold price rose. The Sukari mine, which was recently approved for AngloGold Ashanti plc (NYSE:AU) acquisition, will expand its portfolio and offer additional financial and operational benefits.

JPMorgan raised its price target for AngloGold Ashanti plc (NYSE:AU) from $32 to $37 on October 10, 2024. The company stated that industrial metal prices, which rose by 10% over the past two weeks, “have been quick to react” to China’s economic policy initiatives. The analyst suggested lowering exposure at these levels, claiming that metals do not appear to assign significant risk incentives to trade-related outcomes, particularly higher tariffs.