Referenced Stocks

AngloGold Earnings Below Estimates in Q3 - Stock Down 6% in Pre-Market

By Midnight Trader,  November 08, 2012, 07:56:43 AM EDT

AngloGold Ashanti Limited ( AU ) reported third quarter 2012 net income of $235 million, or 61 cents per share, compared to consensus estimate of 76 cents per share earnings. In the same period last year, net income was $457 million, or $1.18 per share earnings.

Production during the quarter was 1.03Moz at a total cash cost of $866/oz, compared with guidance of 1.07Moz to 1.1Moz at $835/oz-$865/oz. The result was affected by the labour unrest in South Africa and also the lower-than-anticipated production from the Obuasi mine in Ghana.

AU has fallen to $33.03 in the pre-market, down by nearly 6%, moving closer to year low $30.56.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: AU



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