Gold Fields Has Big Potential As South Deep Matures
Tue, Jul. 19, 8:39 AM
- Gold Fields (NYSE:GFI) +2.3% premarket after saying it expects H1 earnings to surge, citing the recovery in the gold price and lower operating costs helped by a weaker rand.
- GFI says it expects to report on Aug. 18 that its basic EPS for the period was US$0.14, up from zero in its prior interim period, with headline EPS of US$0.16 vs. US$0.01 in the prior-year period.
- GFI expects H1 attributable gold equivalent production of 1.04M oz., +0.7% Y/Y, with all-in sustaining costs of production at $992/oz., -8.4% Y/Y; for Q2, GFI sees attributable equivalent production of 529K oz., +2.7% Y/Y, with AISC of $1,023/oz., +6.4% Y/Y.
Tue, Jul. 19, 6:25 AM
Fri, Jul. 8, 10:17 AM
- Gold Fields (GFI +3.2%) is upgraded to Buy from Neutral at Goldman Sachs in anticipation of higher investor interest in the stock given its high free cash flow and dividend yield, which the firm thinks has the potential for further increases.
- Goldman acknowledges that gold names already have rallied since Brexit, and GFI's ADRs are up more than 90% YTD, but expects gold stocks to continue to shine.
- The firm says GFI has been a consistently strong free cash flow generator, with FCF yield averaging 8.9% over the past two years when the average gold price was ~$1,200/oz., and FCF yield could reach double digits with gold prices close to $1,350, which could mean an increased dividend.
- The firm also says GFI's South Deep mine is FCF positive at current gold prices, which should allay market concerns; it expects GFI to detail a plan for South Deep next year, likely to be at a lower production level than the original ~700K oz. but should be FCF accretive.
- Also, Goldman says Rangdold Resources (GOLD +1.6%) is a top pick, as one of just two precious metal stocks in the FTSE 100 that warrants a scarcity premium.
Fri, Jul. 1, 9:13 AM
Wed, Jun. 29, 9:16 AM
Tue, Jun. 28, 5:37 PM
Fri, Jun. 24, 2:11 PM
Fri, Jun. 24, 9:11 AM
- Gainers: AAU +20%. VGZ +18%. MUX +13%. AKG +12%. GPL +13%. GORO +12%. GFI +12%. EMES +12%. GOLD +12%. AU +12%. SBGL +11%. EXK +11%. KGC +10%. HMY +11%. SAND +10%. ABX +10%. EGO +9%. SA +7%. IAG +9%. AUY +9%. CDE 9%. NGD 9%. AEM 8%. NEM 8%. GG 8%. NG 8%. FSM 7%.
- Losers: LYG -27%. BCS -26%. SAN -24%. RBS -23%. AV -23%. BBVA -22%. DB -18%. ING -18%. BT -18%. VNR -11%. TEF -17%. CS -16%. PUK -15%. MT -15%. AEG -14%. RYAAY -13%. UBS -12%. FCAU -12%. GNCA -12%. NOK -12%. BBL -11%. IPI -11%. TOT -11%. ANFI -11%. MNKD -10%. BCEI -8%. VMEM -10%.
Fri, Jun. 24, 8:48 AM
- While stock futures remain under tremendous pressure following the Brexit vote, gold miner shares are soaring in premarket action, as the added uncertainty in the global economy sparks a surge in gold prices.
- The Gold Miners ETF (NYSEARCA:GDX) +9.5% premarket, putting it on course to open at the highest level since July 2014; among GDX's components, Newmont Mining +7.7% toward a three-year high even though NEM derived 64.1% of its revenue over the last 12 months from the U.K., according to FactSet.
- Among other GDX members, Goldcorp (NYSE:GG) +7.5%, Barrick Gold (NYSE:ABX) +9.6% and Yamana Gold (NYSE:AUY) +7.2%.
- Also premarket: KGC +8.9%, GOLD +11.6%, GFI +11.8%, RGLD +10.6%, HMY +11%, SBGL +12.4%, AEM +8.4%, SLW +5.6%, PAAS +6.1%, EGO +8.3%, NG +8.9%, IAG +8.4%, FNV +5%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
Mon, Jun. 20, 10:22 AM
- Gold futures -0.8% at ~$1,284/oz. after weekend polls showed a higher likelihood that the U.K. would vote to stay in the European Union.
- “This is a market that’s going to be very emotional this week” ahead of the June 23 referendum, says Peter Hug, global trading director at Kitco Metals, who believes that broader economic concerns and low interest rates will continue to support gold prices regardless of the Brexit outcome.
- Gold has risen 21% YTD amid worries over global growth and as the Fed has pushed back plans to raise short-term interest rates.
- Precious metals miners are among the biggest losers in early trading: ABX -3.8%, GG -2.4%, NEM -2.5%, AEM -1.6%, KGC -4.4%, SLW -1.7%, PAAS -2.7%, RGLD -0.8%, EGO -1.4%, NG -1.6%, GFI -4.8%, AUY -1.4%, IAG -1.8%, FNV -1%, HMY -2.3%, SBGL -2.6%, OTCPK:NCMGY -5%.
- ETFs: GLD, SLV, GDX, NUGT, IAU, AGQ, GGN, DUST, PSLV, SIL, PHYS, USLV, SIVR, SGOL, ZSL, GLDX, UGL, DGP, GTU, UGLD, GLL, DZZ, SLVO, SGDM, GLDI, ASA, DSLV, OUNZ, SLVP, DGL, RING, DBS, DGZ, DGLD, PSAU, TGLDX, GYEN, USV, GEUR, UBG
Thu, Jun. 9, 11:41 AM
- Barrick Gold (ABX +1.5%) had the lowest all-in sustaining cost during Q1 at $706/oz., $130 less than the group median of $836/oz., according to a report compiled by SNL Metals & Mining.
- ABX benefited mostly from operating and capital cost control initiatives, and from lower fuel prices and foreign exchange gains, SNL says.
- Northern Star Resources (OTCPK:NESRF) and Newcrest Mining (OTCPK:NCMGF) came in slightly behind ABX with AISC of $711/oz. and $723/oz., respectively.
- At the other end of the scale, Iamgold (NYSE:IAG) reported the highest AISC at $1,084/oz., followed by Centerra Gold (OTCPK:CAGDF) and Gold Fields (NYSE:GFI), with respective AISC of $1,015/oz. and $961/oz.
Wed, Jun. 8, 9:16 AM
Mon, Jun. 6, 12:39 PM
- Gold Fields (GFI -3.5%) says it is interested in buying AngloGold Ashanti’s (AU -1.5%) Iduapriem mine in Ghana, as it seeks to increase production from west Africa by about two-thirds to 1M oz.
- GFI's VP for West Africa says the company is interested in the mine because of its proximity to its Tarkwa mine in southern Ghana; Tarkwa is the bigger of the two mines, producing 140K oz. during Q1 vs. Iduapriem’s 46K oz.
- The GFI exec says the company also is looking for opportunities to buy mines in Mali, Burkina Faso and Senegal.
Fri, Jun. 3, 3:58 PM
- Gold miner stocks are skyrocketing, with the sector enjoying its best day in nearly seven years, as the disappointing May jobs report helped spark a strong rally in the yellow metal.
- The VanEck Vectors Gold Miners ETF (GDX +11.1%) surged more than 10% on heavy volume, and all 24 of the ETF’s U.S. equity components traded higher, with 10 of them enjoying double-digit percentage gains.
- In today's trade: ABX +12.9%, NEM +9.5%, GG +7.7%, AEM +11.1%, OTCPK:NCMGY +10.7%, KGC +15.4%, SLW +9%, FNV +9.1%, RGLD +9.4%, EGO +9.8%, GFI +13.7%, SBGL +8.2%, HMY +13%, IAG +16.4%, AU +14.4%, GOLD +8.6%, AUY +13.9%, NGD +9.6%, HL +12.1%, CDE +11.6%, TAHO +10.8%, NG +12.2%, AG +12.3%, PAAS +8.9%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, RING, PSAU, SGDJ, TGLDX, GDXX, GDJJ, GDXS, GDJS
Fri, Jun. 3, 9:16 AM| Fri, Jun. 3, 9:16 AM | 26 Comments
Fri, Apr. 29, 5:35 PM
Gold Fields Ltd. is an un-hedged producer of gold with operating mines in South Africa, Peru, Ghana and Australia. It also explores for copper in Peru. The company engages in underground and surface gold and copper mining and related activities, including exploration, development, extraction,... More
Sector: Basic Materials
Country: South Africa
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