10 Cheap Gold Stocks to Invest In Right Now

5. AngloGold Ashanti plc (NYSE:AU)

Forward P/E: 9.52

Number of Hedge Fund Holders: 31

Based in the UK, AngloGold Ashanti plc (NYSE:AU) is an independent global gold mining company with a diverse portfolio of exploration activities, projects, and operations across nine countries on four continents. The company’s portfolio spans the Americas, Africa, and Australia. It also produces sulphuric acid and silver as by-products.

AngloGold Ashanti plc (NYSE:AU) has a diversified asset base, and its strategic presence in geopolitically stable regions is a strong positive in the mining industry. The company’s free cash flow rose to $942 million in 2024, up from $109 million in 2023. Its Adjusted EBITDA also reflected significant growth, growing 93% to $2.747 billion compared to $1.420 billion in 2023. This exponential growth was attributed to the company’s continued operational and efficiency improvements, allowing it to benefit from a healthy gold price. With its business receiving appropriate investment and a balance sheet at its strongest position in over a decade, AngloGold Ashanti plc (NYSE:AU) is in a position to pass these benefits to shareholders.

In September 2024, AngloGold Ashanti plc (NYSE:AU) announced plans to acquire Centamin, an Egyptian gold mining company, for $2.5 billion. This move aligns with the company’s strategy to expand its footprint in high-potential regions and optimize its asset base. On March 3, Josh Wolfson from RBC Capital maintained a Buy rating on the company with a price target of $35.00.