By Gabriele Steinhauser
JOHANNESBURG--AngloGold Ashanti Ltd. (ANG.JO), the world's No. 3 gold producer, swung into the black in 2016 thanks in part to a recovery in gold prices.
AngloGold said it swung to a full-year profit of $63 million from a year-earlier loss of $85 million.
The company said its headline earnings, which exclude exceptional items, came in at 27 cents a share, a turnaround from a year-earlier loss of 18 cents a share. Revenue rose to $4.25 billion from $4.17 billion.
The South Africa-based mining company reduced its net debt to $1.92 billion at Dec. 31 from $2.19 billion a year earlier.
Why is the share price of ANGGOLD dropping when it is suppose to go higher and higher. Is the market rigged or what?
What is the reason?