Thursday, January 9, 2025

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AngloGold Ashanti (ANG ZA)

SUMMARY | Position: LONG | Upside target: R321.00 | Reward / risk ratio: 2.6

Recommended stop-loss: R232.00

RECOMMENDATION: BUY

AngloGold Ashanti conducts mining operations in Africa, North America, South America, and Australia, and undertakes exploration activities worldwide. In addition, the company is involved in the manufacturing, marketing, and selling of gold products, as well as the development of markets for gold.

AngloGold Ashanti’s operations are well diversified geographically, and the exit from the company’s last South African mine has removed a key overhang on the stock. While the gold price may be impacted by higher yields near-term, it remains in favour due to its safe-haven appeal status, particularly amid heightened geopolitical tensions and a murky global growth outlook.

Technically, a price action at a major support level makes the share attractive as an investing opportunity. Trendline support and resistance lines need to have at least two price-points to be drawn. This is confirmed by …

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