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AngloGold Ashanti remains a "Buy," supported by robust Q1 results and a strong technical setup.

AU posted Q1 non-GAAP EPS of $2.52 (beat), $3.15 billion in revenue (miss), and 190% YoY FCF growth to $1.17 billion.

Balance sheet strength is evident with $868 million net cash; management targets $1 billion net cash and a $2 billion share repurchase.

Valuation is attractive with a 6.9% dividend yield, 6% FCF yield, and shares trading slightly below the long-term average P/E.

Igor Barilo/iStock via Getty Images

AngloGold Ashanti ( AU ) reported decent Q1 earnings on Friday, May 8. Shares lifted in the morning trade, all while gold staged a small recovery after what has been a tough stretch since the yellow metal’s January record high. Indeed, both the metal and shares

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours.…