AngloGold Ashanti (NYSE:AU) rose more than 6% intra-day today after the miner reported first-quarter revenue that surpassed expectations, fueled by higher gold production and stronger prices.

The company posted revenue of $1.93 billion, exceeding analyst forecasts of $1.86 billion. Gold production climbed 22% year-over-year to 720,000 ounces, while the average realized gold price surged 39% to $2,874 per ounce.

Despite the revenue strength, earnings per share came in at $0.88, missing estimates by $0.04. Cost pressures were contained, with total cash costs rising 4% to $1,223 per ounce and all-in sustaining costs edging up 1% to $1,640 per ounce.

The company reaffirmed its full-year 2025 guidance, targeting gold production of 2.9–3.225 million ounces at all-in sustaining costs between $1,580 and $1,705 per ounce—maintaining confidence in its operational and financial trajectory for the year.