Why AngloGold Ashanti Stock Rose 10% Today
Shares of precious metals miner AngloGold Ashanti (NYSE: AU) rose roughly 10% on Monday. The big news was the company's third-quarter operating results. As the stock gain suggests, the reading was pretty good.
AngloGold announced that it produced roughly 837,000 ounces of gold in the third quarter, up from 825,000 ounces in the same period of 2019. That's notable because during the first six months of 2020, the miner's production declined 5.5%. That drop was largely the result of the coronavirus, so the third quarter was a clear sign that the company is moving past the production disruptions it faced from the pandemic. That said, all-in sustaining costs were higher by around 1%, driven by coronavirus-related spending that the company pegged at about $51 an ounce.
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Source Fool.com
