GFI - Gold Fields Limited
| Previous Close | 5.71 |
| Open | 5.84 |
| Bid | 5.82 x 4000 |
| Ask | 5.83 x 47300 |
| Day's Range | 5.75 - 5.86 |
| 52 Week Range | 3.00 - 6.29 |
| Volume | 2,863,414 |
| Avg. Volume | 7,339,653 |
| Market Cap | 4.91B |
| Beta (3Y Monthly) | -0.06 |
| PE Ratio (TTM) | 57.72 |
| EPS (TTM) | 0.10 |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.08 (1.42%) |
| Ex-Dividend Date | 2019-09-05 |
| 1y Target Est | 6.46 |
- Bloomberg
Rand Drops as South Africa Blackouts Stretch On: Eskom Update
(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterSouth Africa has been hit by a sixth straight day of rolling blackouts as state-owned power utility Eskom Holdings SOC Ltd. acts to prevent a total collapse of the grid after a raft of plant breakdowns. The company implemented a record level of cuts -- 6,000 megawatts -- late Monday, prompting platinum and gold mines in the country to halt operations.Highlights So Far:Eskom says there’s a high likelihood of cuts all week. The utility plans to cut 4,000 megawatts -- known as Stage 4 -- until late Tuesday.Producers including Sibanye, Implats and Harmony stopped mining operations and mobile-phone networks have been affected.The City of Cape Town warned that a return to Stage 6 could lead to water-supply interruptions.Rains that have soaked coal and caused flooding may continue through Friday.Read more: Record Blackouts Shut South Africa Mines as Recession Risk RisesHere are the latest developments, updated throughout the day. Time stamps are local time in Johannesburg.Rand falls (2:47 p.m.)The rand fell 1% to 14.8158 per dollar by 2:47 p.m. in Johannesburg. It was the outlier in emerging-markets, which traded largely flat versus the dollar. The South African currency has now weakened two days in a row after Eskom raised the blackouts to a record level Monday. The rand declined Tuesday by the most on a closing basis since Oct. 30.Perfect storm for insurers (2 p.m.)Between the power cuts and heavy rains causing flooding in parts of South Africa, it’s a “perfect storm” for insurance companies at the moment, said Christelle Colman, a spokeswoman for Old Mutual Ltd.’s property and casualty insurance unit.The business typically expects higher levels of claims during periods of extended load-shedding, she said. These vary from claims related to frozen foods spoiling in freezers when outages exceed the scheduled time period to power surges damaging electronics around the home.There’s also an increase in claims due to power surges and motor car accidents during night-time blackouts. The rotating power cuts also mean more incidents of theft and robbery, especially during December when South Africans travel for summer holidays.Battery Theft (1:30 p.m.)The constant outages are affecting the performance of batteries powering MTN Group Ltd.’s equipment, said Africa’s largest wireless carrier. The company spent about 300 million rand last year ($20 million) on batteries for existing sites and has 1,800 generators in use.The company is also having to spend more on security to protect its batteries, generators and general site equipment from thieves and vandals.“Load-shedding is seeing entire neighborhoods cloaked in darkness at predictable times, which is offering criminals greater cover for their thieving,” the company said.Limited impact at Gold Fields (1:15 p.m.)Gold Fields Ltd., which operates one mine in South Africa, said the impact of power cuts has been limited so far.“We have managed the impact so far by shifting load between critical activities to ensure our core mining activities can continue,” said spokesman Sven Lunsche. “If load shedding continues at Stage 4 or above for a prolonged period, however, and there are sustained interruptions linked to our production ramp up it will become more challenging and we will need to implement alternative mitigations to ensure business continuity.”Manufacturing contracts (1 p.m.)South Africa’s statistics office said factory production contracted for the fifth consecutive month in October, when Eskom implemented the previous round of power cuts. That adds to the risk of a second recession in as many years. Manufacturing accounts for about 13% of gross domestic product.Anglo Platinum costs (1 p.m.)Anglo American Platinum Ltd. said that the rolling blackouts may add to its production costs this year, which are already likely to exceed an earlier forecast.The company is engaging with Eskom to understand the technical constraints and see where it can assist, spokeswoman Jana Marais said separately.“We have standby diesel power generators in place, and all our operations have emergency-response plans which detail what should happen in the event of load-shedding, which includes the safe evacuation of employees, shutdown procedures and communications.”Vodacom connectivity (12:30 p.m.)Vodacom Group Ltd. said its customers around the country will be experiencing network-connectivity issues due to the Stage 4 load-shedding affecting its mobile phone towers.“Our towers do use batteries as a back-up but these do have limited power and will eventually fail,” said spokesman Byron Kennedy. “A notable complication with Stage 4 load shedding over consecutive days is that batteries don’t get enough time to recharge to full capacity.”Vodacom has recently put mitigation measures in place including additional batteries and generators around the country, he said.Cape Town water (12 p.m.)A return to Stage 6 could lead to water-supply interruptions in Cape Town, the city warned.“Load-shedding of this severity is likely to constrain our ability to provide water supply in the reticulation system across the whole of Cape Town in the usual way,” it said in a statement. “Residents should not panic, but please use water sparingly and prepare just in case they do experience a period of no water supply.”Platinum, palladium rise (10:30 a.m.)Platinum and palladium led gains among major precious metals after South African producers said they had stopped operations. Platinum gained as much as 1.2%. Palladium rose as much as 0.6% to a fresh record of $1,894.47 an ounce, closing in on $1,900 for the first time. The metal has rallied 50% this year amid tight supply.High likelihood of cuts all week (10 a.m.)Eskom plans to cut 4,000 megawatts until 11 p.m. on Tuesday as it continues to face a shortage of generating capacity. Breakdowns are at 15,200 megawatts, the company said in a statement.“The incessant rains continue to impact coal handling and operations at our power stations. The probability for load-shedding remains high for the rest of the week.”Rains to continue (10 a.m.)Heavy rains have soaked coal, which is used as fuel, and caused flooding at Eskom’s Kriel and Camden power stations, the utility said. South African Weather Service forecasts show rain in Mpumalanga, the province in which the electricity plants are located, will continue through Friday. Rainfall in Lephalale, near the giant Medupi plant, could reach as much as 25 mm (1 inch) today, forecasts show.Mines close (Earlier)Producers including Sibanye Gold Ltd., the world’s biggest platinum miner, recalled workers from underground and stopped milling ore after Eskom announced Stage 6 cuts on Monday night. No. 2 producer Impala Platinum Holdings Ltd. didn’t start the 4 a.m. underground shift Tuesday and the company has stopped milling ore and shut its smelter.\--With assistance from Prinesha Naidoo, Felix Njini and Loni Prinsloo.To contact the reporters on this story: Colleen Goko in Johannesburg at cgoko2@bloomberg.net;Roxanne Henderson in Johannesburg at rhenderson56@bloomberg.netTo contact the editors responsible for this story: Amogelang Mbatha at ambatha@bloomberg.net, Liezel Hill, Pauline BaxFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
UPDATE 5-South African mines grind to halt as floods deepen power crisis
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.
- Simply Wall St.
What Percentage Of Gravitas Financial Inc. (CNSX:GFI) Shares Do Insiders Own?
If you want to know who really controls Gravitas Financial Inc. (CNSX:GFI), then you'll have to look at the makeup of...
- 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.
- CNW Group
Gold Fields Limited Operating Update Quarter Ended 30 Sep 2019
Gold Fields Limited Operating Update Quarter Ended 30 Sep 2019
- Moody's
Growthpoint Properties International -- Moody's takes action on five South African corporates following sovereign outlook change
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.
- GuruFocus.com
Donald Smith Adds 2 Industrial Stocks to Portfolio in 3rd Quarter
Guru invests in Atlas Air Worldwide, CAI International Continue reading...
- Insider Monkey
Is Gold Fields Limited (GFI) Going To Burn These Hedge Funds ?
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 […]
- Zacks
Franco-Nevada (FNV) Acquires 2 Royalties From Premier for $6M
Franco-Nevada's (FNV) royalties consists of 2% NSR on the PQ North Property and 1.5% NSR on the Saddle Properties.
- Zacks
Here's Why Momentum Investors Will Love Gold Fields (GFI)
Does Gold Fields (GFI) have what it takes to be a top stock pick for momentum investors? Let's find out.
- GuruFocus.com
Gold Fields Turns a Profit
South African miner posts 1st-half results Continue reading...
- Zacks
Has Gold Fields (GFI) Outpaced Other Basic Materials Stocks This Year?
Is (GFI) Outperforming Other Basic Materials Stocks This Year?
- 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.
- CNW Group
Gold Fields Limited - Results for the Six Months Ended 30 June 2019
Gold Fields Limited - Results for the Six Months Ended 30 June 2019
- InvestorPlace
5 Stocks Hitting New Highs Amid Trade War Turbulence
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.
- Zacks
5 Soaring Top-Ranked Gold Stocks With More Upside Potential
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.
- PR Newswire
Gold Fields Limited: Trading Statement for H1 2019
JOHANNESBURG , Aug. 8, 2019 /PRNewswire/ -- Further to the trading statement released on 2 August 2019 , Gold Fields Limited (Gold Fields) (JSE: GFI) (NYSE: GFI) advises that headline earnings per share ...
- Zacks
What Makes Gold Fields (GFI) a Strong Momentum Stock: Buy Now?
Does Gold Fields (GFI) have what it takes to be a top stock pick for momentum investors? Let's find out.
- Motley Fool
The 10 Biggest Gold Mining Stocks
Digging for the yellow metal is big business -- and it can add some valuable diversification to your portfolio.
- Zacks
5 Gold Mining Stocks Under $10 to Buy
Here are 5 highly-ranked gold stocks that are also currently trading for less than $10 a share.
