After gold mining stock AngloGold Ashanti (AU +7.67%) reported third-quarter 2025 financial results yesterday, investors are showing their approval of the company's performance today. In addition to the company's lustrous performance, an analyst's increasingly bullish price target is motivating investors to click the buy button.
As of 12:31 p.m. ET, shares of AngloGold Ashanti have risen 6.5%.
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A record performance is striking a chord with gold bugs
Taking a more bullish stance on AngloGold Ashanti stock, Scotiabank hiked its price target to $92 from $90 while maintaining an outperform rating. According to The Fly, Scotiabank predicated its decision on a new model of the company's stock following the third-quarter 2025 financial results that it reported yesterday before the bell rang.
NYSE: AU
Key Data Points
With shares closing at $79.35 yesterday, the $92 price target on AngloGold Ashanti stock implies upside of about 14%.
Meeting analysts' estimates, AngloGold Ashanti reported earnings per share (EPS) of $1.32 -- a 136% year-over-year increase.
And it wasn't only the income statement where the company glittered. AngloGold Ashanti reported a quarterly record for free cash flow: $920 million. This, in turn, helped the company to strengthen its balance sheet. Whereas AngloGold Ashanti had an adjusted net debt position of $92 million at the end of the second quarter 2025, the balance sheet sported an adjusted net cash position of $450 million at the end of Q3 2025.
Should gold investors dig into AngloGold Ashanti stock even after its rise?
While it's worth noting the Scotiabank's price target, it's important to remember that analysts often have shorter investing horizons than the long-term holding periods that The Motley Fool favors.
Nonetheless, those interested in gold exposure would be better advised to pick up shares of AngloGold Ashanti right now, as its dividend has a 2% forward yield, providing a chance to procure some passive income instead of the lack of opportunity that simply holding gold bullion affords.
