Earnings Coverage - AngloGold Ashanti

LONDON, March 19, 2015 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Investor-Edge.com has issued free earnings coverage on AngloGold Ashanti Ltd (NYSE: AU). On February 23, 2015, the company announced its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=AngloGold%20Ashanti&d=19-Mar-2015&s=AU to read our free earnings review on AngloGold Ashanti Limited (AngloGold Ashanti). The company reported revenues of $1.32 billion for Q4 FY14 and $5.38 billion for FY14. AngloGold Ashanti also reported adjusted EBITDA of $407 million in Q4 FY14 and $1.67 billion for full-year FY14. Our free coverage report can be accessed at:

http://get.Investor-Edge.com/pdf/?c=AngloGold%20Ashanti&d=19-Mar-2015&s=AU

Earnings Overview 

During Q4 FY14, AngloGold Ashanti's revenues declined by $150 million from $1.47 billion in Q4 FY13. The company's Q4 FY14 production declined 6% to 1.156 million ounce (Moz) from 1.229Moz in Q4 FY13, but was still better than guidance of 1.10Moz-1.14Moz. In the reported quarter, the company total cash costs fell by 3% Y-o-Y to $724/oz, well ahead of guidance of $800/oz to $820/oz. Furthermore, the all-in sustaining costs came in at $1,017/oz in Q4 FY14 compared to $1,015/oz in Q4 FY13. Free research on AU can be downloaded in PDF format at:

http://get.Investor-Edge.com/pdf/?c=AngloGold%20Ashanti&d=19-Mar-2015&s=AU

AngloGold Ashanti's adjusted EBITDA for Q4 FY14 declined 25% Y-o-Y from $544 million in Q4 FY13. Gold prices received during the reported quarter decreased by 5% Y-o-Y to $1,202/oz. For Q4 FY14, AngloGold Ashanti's loss attributable to equity shareholders narrowed down to $58 million, or $0.14 loss per diluted share, from loss attributable to equity shareholders of $305 million, or $0.75 loss per diluted share, in Q4 FY13.

For Q4 FY14, the company reported net cash flow from operating activities of $213 million, compared to $431 million in Q4 FY13. Excluding Obuasi redundancies and Rand Refinery loan, AngloGold Ashanti's free cash outflow was $9 million in Q4 FY14 compared to free cash outflow of $108 million in Q4 FY13.

In FY14, AngloGold Ashanti's revenues declined by $330 million from $5.71 billion in FY13. The company's FY14 revenues outperformed Bloomberg analysts' forecast of $5.22 billion. AngloGold Ashanti's production rose 8% to 4.436Moz in FY14 from 4.105Moz in FY13, and was within guidance of 4.2Moz to 4.5Moz. During FY14, the company total cash costs fell by 5% to $787/oz from $830/oz in FY13 and were within guidance of $740/oz to $790/oz. Furthermore, AngloGold Ashanti's all-in sustaining costs declined by 13% to $1,026/oz in FY14 from $1,174/oz in FY13. Sign up and read the free analyst's notes on AU at:

http://get.Investor-Edge.com/pdf/?c=AngloGold%20Ashanti&d=19-Mar-2015&s=AU

During FY14, AngloGold Ashanti's adjusted EBITDA was similar to FY13 levels of $1.67 billion, despite a 10% Y-o-Y decline in gold price received of $1,264/oz in FY14. The company's FY14 loss attributable to equity shareholders declined to $58 million, or $0.14 loss per diluted share, from loss attributable to equity shareholders of $2.23 billion, or $6.31 loss per diluted share, in FY13. Analysts from Bloomberg had expected profit attributable to equity shareholders of $214.67 million, or $0.48 per diluted share, in FY14.

In FY14, AngloGold Ashanti's net cash flow from operating activities was $1.22 billion, compared to $1.25 billion in FY13. Excluding Obuasi redundancies and Rand Refinery loan, AngloGold Ashanti reported free cash flow of $142 million in FY14 compared to free cash outflow of $1.06 billion in FY13. Additionally, the company had cash and cash equivalents balance of $468 million as of December 31, 2014.

CEO of AngloGold Ashanti, Srinivasan Venkatakrishnan, stated that a second year of growth is gratifying but the real focus for the company is on improving margins. Regardless of the gold price, the company would not relax the pressure on costs or hesitate to take out marginal production if needed, he asserted.

In its outlook for Q1 FY15, AngloGold Ashanti provided production guidance range of 900kozs to 940kozs at total cash costs of $830/oz to $860/oz. Additionally, for full-year FY15, the company anticipates production to be between 4.0Moz to 4.3Moz with total cash costs estimated to be between $770/oz to $820/oz and all in sustaining costs at $1,000/oz to $1,050/oz. Visit Investor-Edge and access the latest research on AU at:

http://get.Investor-Edge.com/pdf/?c=AngloGold%20Ashanti&d=19-Mar-2015&s=AU

Stock Performance 

On the day of the earnings release, February 23, 2015, AngloGold Ashanti's stock fell 1.05% to end the session at $11.35. Since then, the stock has moved mostly on a negative note. However, on the last close, Wednesday, March 18, 2015, the company's shares finished 8.01% higher at $9.57, after vacillating between $8.86 and $9.66. A total of 4.33 million shares were traded which was above their three months average volume of 4.05 million shares. Over the previous three trading sessions and over the past three months, the company's shares have gained 10.76 % and 10.25 %, respectively. However, the stock has declined 20.32 % in the last one month. Shares in AngloGold Ashanti are trading below their 50-day and 200-day moving averages of $10.94 and $12.73, respectively. Furthermore, the stock has a Relative Strength Index of 30.41.

Sneak Peek to Corporate Insider Trading 

In the last one month, AngloGold Ashanti has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on AU is available at:

http://get.Investor-Edge.com/pdf/?c=AngloGold%20Ashanti&d=19-Mar-2015&s=AU

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

===============

EDITOR'S NOTES:

===============

1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.

4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] www.investor-edge.com.

5. For any urgent concerns or inquiries, please contact us at compliance [at] www.investor-edge.com.

6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] www.investor-edge.com for consideration.

COMPLIANCE PROCEDURE

Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE

Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED

Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE Investor-Edge