|Bid||5.15 x 3000|
|Ask||5.44 x 36100|
|Day's Range||5.18 - 5.41|
|52 Week Range||2.20 - 6.29|
|Beta (3Y Monthly)||-0.59|
|PE Ratio (TTM)||53.37|
|Forward Dividend & Yield||0.03 (0.49%)|
|1y Target Est||5.56|
(Bloomberg) -- Gold Fields Ltd. returned to a profit of $70.5 million in the six months through June, after a loss in the year-earlier period.The Johannesburg-based producer maintained its output guidance of 2.13 million ounces to 2.18 million ounces for the full year. The company also announced that it plans to extend life of operations at its jointly held Asanko Gold mine by eight to 10 years as it bolsters its position in Ghana.Key InsightsApart from returning to profit, investors will also note that Gold Fields turned net cash flow positive in the first half, earlier than originally anticipated. That follows spending to boost output at Damang in Ghana and Gruyere in Australia. While output at its South Deep mine in South Africa jumped in the second quarter, the company is a long way off from recouping its investment in the troubled operation. Chief Executive Officer Nick Holland said Gold Fields will hang on to the asset as the mine’s “trajectory has changed.” Gold Fields undertook gold price hedging to secure short-term cash flow and protect its balance sheet as the company completes its project ramp up.Toward the end of next year, the miner may start developing Salares Norte, a Chilean mine that could cost $835 million. Gold Fields is considering a range of funding options from bringing in a partner to raising debt and metals streaming, the CEO said.Market ReactionGold Fields shares dropped 5% as of 2 p.m. in Johannesburg trading, paring this year’s gain to 73%.Read MoreGold Fields Returns to Profit in 1H; Keeps FY Guidance UnchangedGold Fields Trims Vision in Final Bet on South African MineSouth African Gold Industry Enters Final Phase of Slow Death(Updates with CEO comments in second and fourth insights.)To contact the reporter on this story: Felix Njini in Johannesburg at email@example.comTo contact the editors responsible for this story: Lynn Thomasson at firstname.lastname@example.org, Dylan Griffiths, Alastair ReedFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
JOHANNESBURG , Aug. 15, 2019 /PRNewswire/ -- Gold Fields Limited (NYSE: GFI) (JSE: GFI) today announced profit attributable to owners of the parent for the six months to 30 June 2019 of US$71m ( US$0.09 ...
The past two weeks have not been kind to the stock market.First, the Federal Reserve cut basis points by "only" 25 basis points in late July -- many investors were expecting a 50 basis point cut -- and then Fed Chair Jerome Powell sounded less dovish than expected in the following press conference with respect to future rate cuts. The next day, U.S. President Donald Trump -- perhaps in an attempt to force the Fed to cut rates -- upped the trade war ante by announcing a 10% tariff on $300 billion worth of Chinese goods. A few days later, China responded by directly devaluing its currency against the U.S. dollar.It has been nothing but bad economic news over the past two weeks for markets. Stocks have consequently taken a step back. As of this writing, the S&P 500 trades 5% off its all time highs.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut, not all stocks have stepped back with the market. Instead, some stocks have shrugged off the trade war noise, and have powered to fresh 2019 highs in early August. * 8 Dividend Aristocrat Stocks to Buy Now No Matter What Which stocks have done that? More importantly, will they stay in rally mode?Let's answer those questions and more by taking a look at five stocks that rushed to fresh 2019 highs amid recent market turbulence. Hot Stocks Hitting 2019 Highs: Gold Stocks (GLD, AUY, KGC, GFI, HMY, RGLD, etc)YTD Change: 17% (for GLD)Pretty much every gold and gold-related stock -- Yamana Gold (NYSE:AUY), Kinross Gold Corporation (NYSE:KGC), Gold Fields (NYSE:GFI), Harmony Gold Mining (NYSE:HMY), and Royal Gold (NASDAQ:RGLD) -- has rushed to fresh 2019 highs in August as the trade war heats up.This makes 100% sense. Gold is often perceived as a hedge against risk of all sorts: geopolitical, economic, and financial market risk. All three of those risks are rising right now and have been rising all year long. The global geopolitical landscape is on rocky footing, with threats ranging from trade wars to political tensions. The global economy is slowing. Financial assets, particularly U.S. stocks and bonds, are trading at very rich valuations.As such, it makes complete sense that the SPDR Gold Trust ETF (NYSEARCA:GLD) is up 17% year-to-date, and at a multi-year high.This rally in gold and gold-related stocks should persist. The aforementioned geopolitical, economic, and financial market risks may cool going forward. But, they won't all together disappear. Throw in the fact that we are in the midst of the longest bull market in history, and it seems like investors will increasingly buy gold and gold-related stocks as a hedge against risk for the foreseeable future. Match (MTCH)YTD Change: 117%Growth stocks have been hit hard amid the recent market sell-off. Not Match (NASDAQ:MTCH). The online dating giant -- which owns Match.com, Tinder, Hinge, and many other dating platforms -- just reported second quarter numbers that breezed past expectations. It broadly affirmed that online dating is a global phenomena which nearly every single person wants to participate in.MTCH stock popped 25% to new all-time highs in response, and is now up nearly 101% year-to-date.Can the rally continue? Yes. Ultimately, Match has turned into the Facebook (NASDAQ:FB) of online dating, since they have basically acquired all their competitors (outside of Bumble) and own the entire online dating space.Online dating is a global phenomena. There's tons of room left for further subscriber and revenue growth here. All of the revenues are produced through a high-margin subscription model. Thus, there's visibility to huge profit growth over the next several years, and stocks with huge profit growth potential will out-perform so long as real rates remain next to zero.But, don't confuse a favorable market backdrop (real rates near zero) for fundamental support. MTCH stock now trades at 50 times forward earnings. Adjusted EBITDA grew 16% last quarter. That's a sharp disconnect that is supported only because of low rates. Thus, if rates move higher, MTCH stock will move lower. * 5 Cheap Stocks to Buy Now That the Fed Cut Rates Until that happens, MTCH stock will stay on an uptrend. Most Solar Stocks (TAN, SEDG, ENPH, VSLR, etc)YTD Change: 66% (for TAN)Source: Shutterstock Solar energy stocks have on been fire in 2019, with the Invesco Solar Portfolio ETF (NYSEARCA:TAN) up nearly 67% year-to-date, as the long-term growth fundamentals underlying the industry have materially improved.Specifically, for the first time ever, solar energy is going mainstream. There are few fundamental drivers here. First, the numbers finally check out, as the cost of renewable energy has come down substantially. Second, consumers have increasingly adopted a "save the environment" approach to their consumption behavior, and part of that approach includes pivoting to solar. Third, legislation globally has increased incentives for solar tech adoption. Fourth, the underlying technology has improved meaningfully.These four fundamental drivers should persist for the foreseeable future. That means big growth is here to stay for solar companies. Just look at the profit growth estimates for these companies over the next few years. We are largely talking 20%-plus profit growth over the next several years. That's an attractive growth profile. It's especially attractive against the backdrop of low rates.As such, names like SolarEdge (NASDAQ:SEDG), Enphase Energy (NASDAQ:ENPH), and Vivint Solar (NYSE:VSLR) -- all of which are at 2019 highs today -- should continue to power higher. Shake Shack (SHAK)YTD Change: 103%Source: Shutterstock Shares of Shake Shack (NYSE:SHAK) powered to all-time highs in early August after the company reported second-quarter numbers which smashed expectations across the board. Importantly, the numbers and management commentary on the quarter confirmed that delivery expansion presents a huge revenue growth opportunity going forward, and that this growth opportunity won't meaningfully compromise margins -- so it presents a huge a profit growth opportunity, too.Investors celebrated those takeaways, and pushed SHAK stock to new highs.In the big picture, SHAK stock is now very richly valued. This valuation is somewhat supported by big growth -- positive comps on top of big unit expansion. But, as is the case with some of the other stocks on this list, part of the support from today's big valuation comes from low rates. After all, SHAK stock trades at a triple-digit forward earnings multiple, yet profits grew by less than 20% year-over-year last quarter. That discrepancy only makes sense given that real rates are next to zero. * 10 Stocks to Buy on the Trade War Dip If rates do rise from here, SHAK stock will get hit hard. Until that happens, momentum should continue to carry this stock higher for the foreseeable future. REITs (SCHH, WELL, CUBE)YTD Change: 19% (for SCHH)Source: Shutterstock Much like gold, REITs have been big winners amid recent market volatility as investors turned down their risk appetites, upped their defensive strategies, and turned to traditional safe-haven plays. The Schwab U.S. REIT ETF (NYSEARCA:SCHH) is presently just south of 2019 highs, and up 19% year-to-date. Names like Public Storage (NYSE:PSA), Welltower (NYSE:WELL), and CubeSmart (NYSE:CUBE) are all trading at 52-week highs.For the same reasons that gold and gold-related stocks will stay in rally mode, U.S. REITs will stay in rally mode, too. Geopolitical, economic, and financial market risks are rising, and they don't project to disappear anytime soon. So long as those risks stick around, investors will continue to play defense. One mainstream way to play defense is by piling into U.S. REITs.Also helping things will be current and future rate cuts. The lower rates go, the better the environment gets for REITs, and the more investors will smile upon the industry as a high-quality defensive play.Net-net, names like PSA, WELL, and CUBE should continue to grind higher into the end of the year.As of this writing, Luke Lango was long FB and TAN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Aristocrat Stocks to Buy Now No Matter What * 7 Stocks to Buy to Ride the Vegan Wave * 4 Safe Stocks to Buy Amid Trade War Turbulence The post 5 Stocks Hitting New Highs Amid Trade War Turbulence appeared first on InvestorPlace.
Given the optimism and intense buying pressure on the yellow metal, gold stocks have been surging this year. Below, we present five such high-flying stocks that will continue to outperform.
Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) provides an overview of its planned exploration program for the second half of 2019 as operators of the Asanko Gold Mine (“AGM”) in Ghana, West Africa, which is a 50:50 Joint Venture between the Company and Gold Fields Limited (JSE, NYSE: GFI). 1. To delineate new resources within 10km of the 5Mtpa processing facility that can be brought into the near-term mine plan, initially targeting Tontokrom, Opeimu and Kaniago West (see figure 1).
The AGM is owned by Asanko Gold Ghana Limited (“AGGL”). AGGL is 90% owned by a 50:50 Joint Venture between the Company and Gold Fields Limited (JSE/NYSE: GFI) and 10% owned by the Government of Ghana. These changes will better align the business to the strategy of maximizing the benefits of the recent major capital investments at the AGM as the focus shifts to cash flow generation. In conjunction with the change, Peter Breese will be retiring from his management and board roles with the Company.
VANCOUVER, British Columbia, July 10, 2019 -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to announce production results for the second.
Newmont (NEM) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
Gold prices have dropped below $1,400 an ounce after Donald Trump and Xi Jinping agreed to restart trade talks, reviving hopes of an end to their tariffs war.
The market has been volatile in the last 6 months as the Federal Reserve continued its rate hikes and then abruptly reversed its stance and uncertainty looms over trade negotiations with China. Small cap stocks have been hit hard as a result, as the Russell 2000 ETF (IWM) has underperformed the larger S&P 500 ETF […]
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.