GFI.JO - Gold Fields Limited

Johannesburg - Johannesburg Delayed Price. Currency in ZAc
8,666.00
-80.00 (-0.91%)
At close: 5:05PM SAST
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Previous Close8,746.00
Open8,794.00
Bid8,637.00 x 0
Ask8,682.00 x 0
Day's Range8,561.00 - 8,953.00
52 Week Range4,258.00 - 9,579.00
Volume2,067,489
Avg. Volume3,044,797
Market Cap71.809B
Beta (3Y Monthly)-0.06
PE Ratio (TTM)85,801.98
EPS (TTM)0.10
Earnings DateFeb 13, 2020 - Feb 17, 2020
Forward Dividend & Yield0.80 (0.91%)
Ex-Dividend Date2019-09-04
1y Target Est2.91
  • Gold Fields Says South Africa Mine Revival Could Unlock Deal
    Bloomberg

    Gold Fields Says South Africa Mine Revival Could Unlock Deal

    (Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterGold Fields Ltd. said the turnaround of South Deep opens the way for the company to do a deal at its last South African mine.The company would consider different “corporate structures” for South Deep, after it returned to profit in 2019 following more than 10 years of losses, according to Chief Executive Officer Nick Holland. The mine needs to build a track record of profitability before a final decision is taken in February 2021, he said in an interview.“We are open, we are not closed to ideas to release value on the asset,” Holland said. “But I think we have got to do it from a stronger base.”Gold Fields on Friday raised South Deep’s output targets for this year and next as the company implements the mine’s fifth turnaround plan since its acquisition in 2006. The company expects the operation to produce 5% to 10% more than its initial 2019 guidance of 193,000 ounces.Still, investors remain skeptical after the mine repeatedly missed goals over the past decade, including attaining production of as much as 800,000 ounces, the CEO said. While South Deep sits on the second-biggest known body of gold-bearing ore, power shortages and regulatory uncertainties in South Africa are compounding the challenges faced by one of the world’s deepest mines, he said.“There is still much work to be done and one swallow doesn’t make a summer,” Holland said. “To get people to believe it can work we have to show good performance over a long period of time.”Gold Fields could take advantage of higher gold prices and a weaker rand, which lowers costs for South African producers, to sell South Deep, said Rene Hochreiter, an analyst at Noah Capital Markets Ltd.“They should do their absolute best to try and sell,” Hochreiter said. “In this rand-gold price environment, it would be a good time to sell.”Rival AngloGold Ashanti Ltd. said last month it may finalize the sale of its remaining South African assets as early as the first quarter of 2020, a deal that could clear the way for the miner to move its primary listing from Johannesburg. Gold Fields has also considered moving its primary listing, Holland said.“It’s an issue that one keeps on evaluating but one thing to remember is that it’s not so much as where you are listed, it’s about the underlying performance of the assets that matter,” the CEO said. “If assets perform well, you make good cash and shares get rerated.”(Updates with analyst comment in seventh paragraph)To contact the reporter on this story: Felix Njini in Johannesburg at fnjini@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Dylan Griffiths, Stuart WallaceFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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    GuruFocus.com

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  • Here's Why Gold Fields Fell as Much as 10.8% Today
    Motley Fool

    Here's Why Gold Fields Fell as Much as 10.8% Today

    The gold miner delivered a solid performance in the first half of 2019, but investors are remaining cautious.

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  • AngloGold Ashanti Gets Upgrades as Gold Fields Gets Downgrade
    Market Realist

    AngloGold Ashanti Gets Upgrades as Gold Fields Gets Downgrade

    Today, BMO Capital Markets upgraded AngloGold Ashanti (AU) from “market perform” to “outperform” and raised the stock’s target price from $16 to $21. The bank believes that AU has a solid track record and is on track to get its Obuasi mine operational by the end of the year.

  • Reuters

    UPDATE 2-South Africa's rand slumps after GDP shocker, stocks up

    South Africa's rand slumped on Tuesday after data showed the worst quarterly economic contraction in a decade at the start of 2019, while stocks gained. The rand was also hammered by news that South Africa's governing party has agreed to expand the central bank's mandate to include employment and growth as well as inflation. Investors are nervous about any changes that could curb the independence of the South African Reserve Bank (SARB).

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  • TheStreet.com

    Is Gold a Buy? CEO of Gold Fields Explains

    Gold is up, but there's a reason it could run even more in 2019.

  • Could South African Miners’ Difficulties End in 2019?
    Market Realist

    Could South African Miners’ Difficulties End in 2019?

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    Motley Fool

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