|Bid||6.95 x 2200|
|Ask||6.96 x 2200|
|Day's Range||6.91 - 7.24|
|52 Week Range||3.57 - 7.90|
|Beta (5Y Monthly)||0.11|
|PE Ratio (TTM)||36.74|
|Forward Dividend & Yield||0.11 (1.52%)|
|Ex-Dividend Date||Mar 11, 2020|
|1y Target Est||6.95|
Gold stocks were rallying, as fears over the global spread of COVID-19 helped attract buyers of the safe-haven metal. The VanEck Vectors Gold Miners ETF rose 2.0%, with 38 of 48 components trading higher, to trade at the highest prices seen since August 2016. Among the more-active U.S.-listed components, shares of Harmony Gold Mining Co. rose 4.5%, Gold Fields Ltd. gained 3.0% and Newmont Corp. hiked up 2.6%, while Hecla Mining Co. fell 2.1%. Meanwhile, continuous gold futures jumped 1.8% to the highest level seen since February 2013, and the Dow Jones Industrial Average sank 802 points, or 2.8%.
(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterGold Fields Ltd. won’t be rushing to join AngloGold Ashanti Ltd. in exiting South Africa after its last mine in the country returned to profit last year.The South Deep operation generated $15 million of net cash in 2019 after a decade of losses. Profitability will improve this year as output climbs at the mine that sits on the world’s second-biggest known body of gold-bearing ore. For Chief Executive Officer Nick Holland the mine has the potential to be a “shining light” for a South African gold industry in terminal decline.“We have a responsibility to the country in making this big resource viable,” Holland told reporters in Johannesburg on Thursday. “What kind of message do we send to the country if we throw in the towel?”The nation’s gold sector has shrunk to less than a fifth of the size it was at its peak and its importance to the economy is rapidly diminishing. The industry has become expensive and dangerous as often unprofitable mines extend miles underground.Gold Fields, founded by Cecil John Rhodes in 1887, has come under pressure from investors over previous losses at South Deep. Like AngloGold, the company has focused on more profitable mines in the Americas, Australia and West Africa. But while its rival is selling its last remaining South African assets to Harmony Gold Mining Co., Gold Fields is keeping its options open.“One thing I can rule out is a fire sale,” Holland said. “We want to do something out of a position of strength.”Instead, Gold Fields has cut costs by reducing its workforce and is reviving a plan to open up new areas to boost output and improve grades, the CEO said. That will give Gold Fields at least another year to assess its options, he said.Gold Fields expects production at South Deep to rise 16% to 257,000 ounces this year. Under the original plans for the mine, output was envisaged to climb to 800,000 ounces at full production.“They expect further improvements on the back of the various initiatives they have undertaken at the mine over the past year, while the rand gold price should further help to improve margins,” said Arnold van Graan, an analyst at Nedcor Securities Ltd.(Updates with chart, and analyst’s comment in final paragraph)To contact the reporter on this story: Felix Njini in Johannesburg at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Thomasson at email@example.com, Hilton Shone, John ViljoenFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Gold Fields Limited (Gold Fields) (JSE: GFI) (NYSE: GFI) advises that headline earnings per share for the 12 months ended 31 December 2019 (FY 2019) are expected to range from US$0.19-0.21 per share, 171-200% (US$0.12-0.14 per share) higher than the headline earnings of US$0.07 per share reported for the 12 months ended 31 December 2018 (FY 2018).
Is Gold Fields Limited (NYSE:GFI) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise to […]
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Gold Fields Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Mines across South Africa shut down on Tuesday after flash flooding triggered the most severe power blackouts in more than a decade, threatening a key export sector in a further blow to the country's already slowing economy. Heavy rains across parts of South Africa have submerged entire neighbourhoods, leading to evacuations and aggravating problems at state-owned utility Eskom, which has been struggling to keep the lights on since 2008. Harmony Gold, Impala Platinum and Sibanye-Stillwater all said they had been forced to cut production since Monday because of power shortages.
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JOHANNESBURG , Nov. 8, 2019 /PRNewswire/ -- Gold Fields Limited (NYSE: GFI) (JSE: GFI) is pleased to provide an operational update for the quarter ended 30 September 2019. Detailed financial and operational ...
Dubai, November 07, 2019 -- Moody's Investors Service ("Moody's") has today taken rating actions on five South African corporates. These rating actions follow Moody's sovereign outlook change, on 1 November, of the Government of South Africa's ratings to negative from stable and affirmation of the Baa3 long-term foreign-currency and local-currency issuer ratings.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 700 world-class investment firms that we track and now have access to the collective wisdom contained in […]