On July 2, AngloGold Ashanti rose 5.17% in regular trading, trading at approximately $83.99/share, with turnover of $55.26 million. The rally was driven by the company's formal release of a shareholder meeting notice on July 1, calling a special meeting on July 23 to approve a share repurchase program of up to $2 billion.

The proposed buyback, initially announced in May, is supported by strong fundamentals. In Q1, the company reported adjusted EPS of $2.52, beating consensus estimates by 11.5%, while free cash flow surged 190% year-over-year to $1.2 billion. The company maintained its full-year production and cost guidance unchanged, underscoring operational stability that underpins the capital return initiative. Additionally, the broader gold sector showed signs of recovery, with peers Coeur Mining up 6.89%, Wheaton Precious Metals up 3.9%, and Barrick Mining up 3.79%.

AngloGold Ashanti is an independent global gold mining company with operations spanning 11 countries across four continents, with gold as its primary product.

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