AngloGold Ashanti plc AU is progressing with its greenfield growth strategy to achieve long-term, tier-one growth opportunities from the North Bullfrog and Arthur Gold projects in Nevada. The company’s greenfield exploration aims to discover large, high-value deposits that will develop new, standalone gold mines.
Following the Augusta Gold Corp acquisition in October 2025, AU consolidated its position in the Beatty District. This includes the flagship Arthur Gold Project, formerly the Expanded Silicon Project, which includes Silicon and Merlin deposits. AngloGold Ashanti expects the Arthur Gold Project to be a central pillar for its strategy to build a world-class, long-life production platform in the United States.
The company is advancing toward a full feasibility study for the Arthur Gold Project in the second half of 2026. The company is targeting an upgrade of 1.4 million ounces from Inferred to Indicated categories, driven by the ongoing Mineral Resource conversion drilling. AU expects annual production for the Arthur Gold Project to be 500,000 ounces in its initial phase, with some years potentially surpassing expectations.
The proposed North Bullfrog open-pit gold mine is located nine miles north of central Beatty.
AngloGold Ashanti expects to receive the National Environmental Policy Act (NEPA) Record of Decision for the North Bullfrog project by the end of 2026. The company expects North Bullfrog to produce an average of 105,000 ounces of gold annually during its first five years of operation, and 76,000 ounces per year over its anticipated 11-year mine life.
Growth Drivers of Other Gold Miners
SSR Mining Inc. SSRM remains the third-largest U.S. gold producer, driven by the two high-quality, long-lived assets, Marigold in Nevada and CC&V in Colorado. SSR Mining is moving forward with growth initiatives across the Marigold mine, including Buffalo Valley. The company expects an updated life of mine plan by 2026-end.
The company increased the mine’s 2026 growth capital guidance from $48 million to $65 million as it plans to boost longer-term growth. With more than 38 years of operations, SSR Mining remains optimistic about Marigold's long-term growth. Along with SSRM’s other key projects like CC&V, Seabee and Puna, Marigold showcases significant potential upside.
Wheaton Precious Metals Corp. WPM has delivered solid performance so far this year. A strong contributor of the upside was the addition of the precious metals purchase agreement (“PMPA”) with BHP Group Limited BHP.
The BHP Antamina PMPA became effective as of April 1, 2026, lifting Wheaton Precious Metals’ attributable silver to 67.5% and adding another 33.75% of payable silver until delivery thresholds step down.
The $4.3-billion Antamina stream deal with BHP Group marks Wheaton Precious Metals’ largest transaction, adding long-life silver exposure and requiring ongoing payments equal to 20% of the spot silver price. The BHP Group Antamina PMPA, alongside the ramp-up of newer mines and contributions from assets, will likely drive Wheaton Precious Metals’ upside.
AU’s Price Performance, Valuations & Estimates
AngloGold Ashanti’s stock has rocketed 53.5% in a year, outperforming the Zacks Mining – Gold industry’s 35.6% return. Meanwhile, the Basic Materials sector has advanced 20.9% and the S&P 500 has rallied 15.7%.
The AU stock is currently trading at a forward 12-month earnings multiple of 13.09X, which is a premium to the industry average of 12.37X.
The Zacks Consensus Estimate for AngloGold Ashanti’s 2026 sales is $12.19 billion, indicating a 25.2% year-over-year jump. The consensus mark for the year’s earnings is pegged at $8.27 per share, suggesting a year-over-year upsurge of 54%.
The Zacks Consensus Estimate for 2027 sales implies a 1.9% year-over-year dip. The same for earnings suggests a dip of 2.1%.
EPS estimates for 2026 and 2027 have moved north over the past 60 days.
AU currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This innovative software-as-a-service firm upped its user base +22% year over year. That rate is increasing and margins are expanding as AI efficiencies take effect. Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AngloGold Ashanti PLC (AU): Free Stock Analysis Report
BHP Group Limited Sponsored ADR (BHP): Free Stock Analysis Report
Silver Standard Resources Inc. (SSRM): Free Stock Analysis Report
Wheaton Precious Metals Corp. (WPM): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).