AngloGold Ashanti PLC (NYSE:AU) is one of the best Middle East and Africa stocks to buy according to hedge funds.
On May 8, AngloGold Ashanti PLC (NYSE:AU) released its Q1 FY2026 earnings, in which it reported $2.52 in quarterly earnings per share, a figure that exceeded the $2.32 consensus estimate
Revenue for the quarter came in at $3.15 billion, which was just short of the $3.25 billion analysts had expected. According to AngloGold’s management, surging gold prices are the primary reason the company’s earnings were able to exceed Wall Street expectations. The company detailed in the earnings report that the average gold price per ounce it received during the quarter was $4,863, a 69% year over year jump.
For that same reason, EBITDA grew 130% year on year to $2.29 billion and headline earnings also jumped 187% year over year to $1.3 billion, or 252 cents per share. Free cash flow also hit a record $1.2 billion for the quarter, which was nearly triple the $403 million generated in Q1 2025. Beside the higher gold prices, CEO Alberto Calderon also attributed the performance to disciplined cost management and predictable mine-level performance rather than any dramatic volume increase.