AngloGold Ashanti plc

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: FCF tapered from current elevated levels of approximately $3.0B down to a normalized steady-state of about $1.4B by year 4 then grown 2% annually, reflecting a normalized long-term gold price assumption of $2,400/oz versus spot of roughly $4,265/oz against approximately $1,900/oz AISC; 9% discount rate; 2% terminal growth; approximately $991M net cash; 510.45M shares outstanding.

Reasoning: A mining DCF must normalize the commodity price rather than extrapolate today's near-record spot gold price; using a conservative long-run gold price assumption instead of current elevated prices shows AngloGold Ashanti's stock is priced for gold remaining near current highs indefinitely.