RBC Capital upgraded AngloGold Ashanti (AU) to Outperform from Sector Perform with a $31 price target The firm views the acquisiotn of Centamin as a logical combination for AngloGold, which also offers “mild” net asset value and “healthy” free cash flow accretion. AngloGold high free cash flow profile is a key differentiating feature into 2025, and the release of an upcoming capital return framework is a “potential deliverable that will underscore this,” the analyst tells investors in a research note.
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