Is AngloGold (AU) the Next Big Gold Play? Roth Capital Thinks So

AngloGold Ashanti plc (NYSE:AU) is one of the 20 undervalued momentum stocks that are taking off. On June 12, Roth Capital analyst Joe Reagor initiated coverage on AngloGold Ashanti with a Buy rating and a $52 price target, citing a clear and disciplined growth strategy. According to the analyst, the company is taking prudent steps to improve the quality of its portfolio which should generate long-term value for investors.

Is AngloGold (AU) the Next Big Gold Play? Roth Capital Thinks So

A man, dressed in protective gear, holding a golden nugget freshly extracted from an underground mining shaft.

Reagor pointed to AngloGold’s focus on building a stronger asset base by concentrating on Tier 1 operations. This approach was reflected in the November 2024 acquisition of Centamin PLC and its flagship Sukari mine. This asset aligns with AngloGold’s criteria for scale, cost efficiency, and long-life production. At the same time, the company has been shedding non-core assets, including its projects in Côte d’Ivoire and the Brazilian Mineracao Serra Grande mine, which Reagor noted did not meet management’s standards for capital allocation.

He also sees further potential for M&A activity, as AngloGold continues to evaluate opportunities that match its strategic objectives. In addition, Reagor emphasized the development of the company’s Nevada projects as a key driver of future growth, with meaningful production increases expected from these assets in the coming years.

In a further positive development, AngloGold Ashanti is expected to join the Russell 3000 and other Russell equity indexes on June 27, 2025. Commenting on the addition to the benchmarks, the company’s CEO Alberto Calderon stated:

“This is an important milestone for AngloGold Ashanti. Our inclusion in this important family of US equity market indexes will help further increase liquidity and unlock long-term value for our shareholders.”

AngloGold Ashanti plc (NYSE:AU) is an independent, global gold mining company with a diversified portfolio of operations, projects, and exploration activities spanning ten countries.

While we acknowledge the potential of AU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.