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Earnings Review and Free Research Report: AngloGold Ashanti Reported its H1 FY17 Results

Research Desk Line-up: Seabridge Gold Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 11, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on AngloGold Ashanti Ltd. (NYSE: AU), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AU, following the Company's posting of its first half of fiscal 2017 (H1 FY17) earnings on August 21, 2017. The Johannesburg, South Africa-based Company's revenues grew on a year-over-year basis during the first half of FY17. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:


Get more of our free earnings reports coverage from other constituents of the Gold industry. Pro-TD has currently selected Seabridge Gold Inc. (NYSE: SA) for due-diligence and potential coverage as the Company reported on August 11, 2017, its financial results for Q2 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Seabridge Gold when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AU; also brushing on SA. With the links below you can directly download the report of your stock of interest-free of charge at:


Earnings Reviewed

For the H1 FY17, AngloGold Ashanti reported revenues of $2.13 billion, compared to $2.04 billion in H1 FY16. The growth in revenue number during the reported period was primarily attributed to the higher gold prices and increased gold sales volume.

The gold mining Company reported loss attributable to equity shareholders of $176 million, or $0.43 loss per share, in H1 FY17, against profit of $52 million, or $0.13 per share, in the prior year's comparable period. The Company's headline loss came in at $89 million, or $0.22 loss per share, for H1 FY17, compared to headline earnings of $93 million, or $0.23 per share, in H1 FY16. Furthermore, the Company posted adjusted headline loss of $93 million, or $0.23 per share, for the six months ended June 30, 2017, versus adjusted headline earnings of $159 million, or $0.39 per share, in the first six months of FY16.

Operating Metrics

In H1 FY17, the Company's cost of sales was $1.71 billion, up from $1.50 billion in H1 FY16. The Company's gross profit came in at $325 million, or 15.99% of revenues, for the reported period, compared to $429 million, or 21.89% of revenues, in H1 FY16. The Company posted operating loss during H1 FY17 of $65 million versus operating profit of $287 million in H1 FY16. Furthermore, the Company reported loss before tax of $153 million for H1 FY17 compared to profit before taxation of $112 million in the prior year's comparable period.

Production Numbers

The Company's gold production volume in H1 FY17 was 1.75 million ounces compared to 1.74 million ounces in the previous year's corresponding period. The gold total all-in cost grew to $1,144 per ounce during H1 FY17 from $982 per ounce in H1 FY16. The all-in sustaining costs were $1,071 per ounce in H1 FY17 versus $911 per ounce in the prior year's comparable period. In H1 FY17, gold sales volume was 1.79 million ounces, up from 1.75 million ounces in the previous year's comparable period. The Company received an average gold price of $1,236 per ounce during H1 FY17, up from $1,222 per ounce in the last year's same period. Furthermore, total gold income was $2.03 billion during the reported period compared to $1.96 billion in H1 FY16.

Cash Flow and Balance Sheet

In the six months ended June 30, 2017, the Company's net cash flow from operating activities was $321 million compared to $476 million in H1 FY16. Additionally, free cash flow outflow was $161 million during the reported period, compared to positive free cash flow of $108 million in H1 FY16.

As on June 30, 2017, the cash and cash equivalents balances stood at $164 million, compared to $470 million as on June 30, 2016. Furthermore, the Company's net debt position as on June 30, 2017, was $2.15 billion, higher than the $2.10 billion recorded on June 30, 2016.

Earnings Outlook

The Company in its outlook for full year FY17 expects gold production to be in the range of 3.60 million ounces to 3.75 million ounces. The Company's all-in sustaining costs are projected to be between $1,050 per ounce and $1,100 per ounce for FY17.

Stock Performance

On Friday, September 8, 2017, the stock closed the trading session at $10.61, slipping 1.58% from its previous closing price of $10.78. A total volume of 3.75 million shares have exchanged hands, which was higher than the 3-month average volume of 3.64 million shares. AngloGold Ashanti's stock price surged 14.95% in the last one month and 5.99% in the past six months. Furthermore, since the start of the year, shares of the Company have gained 0.95%. The stock has a dividend yield of 0.94%. The stock currently has a market cap of $4.35 billion.

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SOURCE: Pro-Trader Daily