AngloGold Profit Surges on Gold Price; Production Target Cut
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AngloGold Ashanti Ltd., the third-largest gold miner, reported record profit after the metal’s longest winning streak since the 1920s countered operational problems that forced the company to cut a production target.
Second-quarter earnings excluding one-time items surged 68 percent to $342 million, or 89 cents a share, from $203 million, or 53 cents, in the first quarter, the Johannesburg-based company said. The adjusted earnings beat the median estimate among six analysts surveyed by Bloomberg of 63 cents a share.