Equity Profile

AU

AngloGold Ashanti plc

MaterialsGold$42.5B

Aug20Mon

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

AngloGold Ashanti plc is a global gold mining company based in South Africa, operating in several countries. With a market cap of $43 billion, it plays a significant role in the materials sector, particularly in gold production, which is influenced by global economic conditions and investor sentiment towards precious metals.

Key Metrics to Watch

Gold Production

This metric indicates the company's operational efficiency and ability to meet market demand for gold.

N/A

Cost of Production

Understanding production costs helps assess profitability, especially in fluctuating gold price environments.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AU Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-60.90%

Avg Stock Reaction

+3.55%

Last Quarter Recap

In Q1-2026, AngloGold Ashanti reported an EPS of $2.52, exceeding estimates by 14%. The stock reacted positively, gaining 6.78% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are looking for strong performance in gold production and cost management in the upcoming earnings report. Given the recent EPS beat, there is cautious optimism.

Bull Case

If the company reports higher gold production and lower costs, it could lead to significant gains in stock price, reflecting strong operational performance.

Bear Case

Conversely, if production falls short or costs rise unexpectedly, it could lead to a negative reaction in the stock, especially given the current market volatility.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected gold production for Q2-2026?

Production levels directly impact revenue and profitability, making this a key indicator for investors.

How has the cost of production changed compared to previous quarters?

Changes in production costs can significantly affect margins and overall financial health, influencing investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising gold prices on AngloGold's profitability, which could lead to stronger-than-expected earnings.

Supporting Evidence

Recent gold price trends suggest a favorable environment for mining companies.

The company's historical performance shows resilience during price fluctuations.

Key Risk

If gold prices remain stable or increase significantly, it could challenge current bearish assumptions.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter centers on production efficiency and cost management amid fluctuating gold prices.

Bull Confirmed If

A gold production increase of over 5% compared to the previous quarter would confirm the bull case.

Bear Confirmed If

A cost increase exceeding 10% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.48%

Historical Avg

±4.4%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±10.5% while AU has averaged ±4.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

63.7%

Calls (178K)P/C Ratio: 0.32Puts (22K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If AngloGold Ashanti beats expectations, history suggests a potential stock increase of around 2.86%, confirming operational strength.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may react moderately, reflecting uncertainty.

Miss

In the event of a miss, history indicates a possible decline of around 1.78%, as investors reassess growth prospects.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production forecasts for the upcoming quarter.
2Details on cost management strategies and their effectiveness.
3Insights into market demand for gold and pricing trends.
4Management's outlook on geopolitical factors affecting operations.
5Any commentary on future capital expenditures and growth plans.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Aug20

ELReported

The EstÃ©e Lauder Companies Inc.

RecapView

Aug20

SSLBMO

Company Snapshot

Key Metrics to Watch

Gold Production

This metric indicates the company's operational efficiency and ability to meet market demand for gold.

N/A

Cost of Production

Understanding production costs helps assess profitability, especially in fluctuating gold price environments.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AU Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-60.90%

Avg Stock Reaction

+3.55%

Last Quarter Recap

In Q1-2026, AngloGold Ashanti reported an EPS of $2.52, exceeding estimates by 14%. The stock reacted positively, gaining 6.78% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are looking for strong performance in gold production and cost management in the upcoming earnings report. Given the recent EPS beat, there is cautious optimism.

Bull Case

If the company reports higher gold production and lower costs, it could lead to significant gains in stock price, reflecting strong operational performance.

Bear Case

Conversely, if production falls short or costs rise unexpectedly, it could lead to a negative reaction in the stock, especially given the current market volatility.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected gold production for Q2-2026?

Production levels directly impact revenue and profitability, making this a key indicator for investors.

How has the cost of production changed compared to previous quarters?

Changes in production costs can significantly affect margins and overall financial health, influencing investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising gold prices on AngloGold's profitability, which could lead to stronger-than-expected earnings.

Supporting Evidence

Recent gold price trends suggest a favorable environment for mining companies.

The company's historical performance shows resilience during price fluctuations.

Key Risk

If gold prices remain stable or increase significantly, it could challenge current bearish assumptions.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter centers on production efficiency and cost management amid fluctuating gold prices.

Bull Confirmed If

A gold production increase of over 5% compared to the previous quarter would confirm the bull case.

Bear Confirmed If

A cost increase exceeding 10% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.48%

Historical Avg

±4.4%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±10.5% while AU has averaged ±4.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

63.7%

Calls (178K)P/C Ratio: 0.32Puts (22K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If AngloGold Ashanti beats expectations, history suggests a potential stock increase of around 2.86%, confirming operational strength.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may react moderately, reflecting uncertainty.

Miss

In the event of a miss, history indicates a possible decline of around 1.78%, as investors reassess growth prospects.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production forecasts for the upcoming quarter.
2Details on cost management strategies and their effectiveness.
3Insights into market demand for gold and pricing trends.
4Management's outlook on geopolitical factors affecting operations.
5Any commentary on future capital expenditures and growth plans.