Gold Fields LimitedNYSE
Tue, Oct. 4, 2:20 PM
- Precious metals miners are slammed as gold prices dip well below $1,300/oz. to settle at $1,269.70, its lowest since the U.K.'s Brexit vote in June, as upbeat U.S. manufacturing data yesterday has stoked expectations of higher interest rates.
- Gold is “falling off the cliff,” says Naeem Aslam, chief market analyst at ThinkMarkets. “Traders are buying the equity market with both hands, especially over in the U.K.” as the British pound declines.
- Among precious metals miners today: ABX -9.2%, KGC -10.4%, GG -7.8%, NEM -8.7%, EGO -7.4%, RGLD -7.8%, AEM -8.9%, NG -9.7%, SLW -9.1%, FNV -5.6%, IAG -11.2%, GOLD -8.1%, AU -9.3%, GFI -6.4%, SBGL -8.1%, HMY -9.9%, AUY -11.6%, BTG -9.3%, NGD -6.6%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, SILJ, RING, PSAU, SGDJ, TGLDX, GDJJ, GDXX, GDXS
Wed, Sep. 21, 5:55 PM
- Newmont Mining (NYSE:NEM) was today's best-performing stock in the S&P 500 and precious metals miners gained across the board, enjoying a big boost from the Fed’s decision to keep interest rates unchanged.
- NEM even outperformed the VanEck Vectors Gold Miners ETF (NYSEARCA:GDX) - +7.5% vs. +7% - and Credit Suisse analysts say business in looking up for the miner, as NEM continues to meet or beat cost and production targets, as well as strengthen its portfolio.
- The firm adds that NEM believes shareholders appreciate its predictability, discipline and defining growth based on free cash flow rather than production.
- Also today: ABX +8.6%, GG +7%, AEM +7.1%, EGO +5.7%, KGC +7.6%, SLW +7.8%, FNV +4.8%, RGLD +9.6%, IAG +7.9%, GOLD +4.7%, AU +10.4%, GFI +9%, SBGL +9.5%, HMY +11.8%, AUY +7.6%, BTG +6.3%, NG +8.1%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
Wed, Sep. 21, 12:57 PM
- Gold Fields' (GFI +4.8%) South Deep mine will be smaller than initially planned for at least the next three years as the company focuses on keeping it profitable, CEO Nick Holland says.
- GFI already had dropped its production target for South Deep to 650K-700K oz. by 2017 after years of technical problems, but "that will not be realistic as a target. After many years, it may well be achieved,” Holland tells the Denver Gold Forum.
- South Deep, GFI’s only mine in its home country of South Africa, is the world’s second largest gold deposit and makes up ~75% of the company’s reserves, but the complexity of the ore formation, its depth, and operational and safety problems have mired the mine in delays throughout its 25-year lifespan.
Thu, Sep. 1, 3:44 PM
- The previously hot gold miners had a tough time of it in August, even slipping into bear market territory yesterday. But the names are hot again to start off September, with the GDX higher by 3.5% today. Gold is up 0.4% to $1,317 per ounce.
- S&P, meanwhile, is mulling the possibility of dividend hikes, noting shareholder pressure is likely to lead to higher payouts or share buybacks should gold prices remain near or above current levels. Newmont Mining (NEM +2.6%) has promised to revisit its capital return strategy, Gold Fields (GFI +5.3%) significantly hiked its interim dividend, and AngloGold Ashanti (AU +2.3%) is considering resuming dividends in 2017 after a three-year holiday.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, JNUG, GLDX, JDST, SGDM, ASA, RING, PSAU, SGDJ, TGLDX, GDXX, GDJJ, GDXS, GDJS
Wed, Aug. 24, 2:30 PM
- Shares of gold miners are sharply lower as gold futures fall 1.2% to settle at a one-month low $1,329.70/oz., closing below its 50-day moving average for the first time since June 7.
- The top gold miners ETF (GDX -6.3%) trades well below its 50-day moving average of $29.09 and is on pace for its first four-day losing streak since early November.
- Investors are dialing down bullish bets on gold ahead of Friday's scheduled remarks from Janet Yellen, says Peter Hug, global trading director at Kitco Metals.
- Among top mining stocks: ABX -8.4%, NEM -6.7%, GG -8.7%, KGC -9%, AEM -6.3%, SLW -7.3%, RGLD -7.3%, EGO -7.2%, GFI -5.1%, AUY -8.8%, GOLD -5%, HMY -5.7%, SBGL -4.9%, IAG -8.7%, BTG -6.9%, NG -7.3%, FNV -6%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, UGL, DGP, UGLD, GLL, DZZ, SGDM, ASA, SLVP, DGL, RING, DGZ, DGLD, PSAU, TGLDX, UBG, GDXX, GDXS
Thu, Aug. 18, 6:56 AM
Thu, Aug. 18, 5:32 AM
Tue, Jul. 26, 12:52 PM
- Barrick Gold (ABX +2.6%) is considering a sale of its 64% stake in African unit Acacia Mining and has approached several South African miners, Reuters reports.
- ABX has reached out to South African miners Harmony Gold (HMY +4.4%), Sibanye Gold (SBGL +5.3%), AngloGold Ashanti (AU +2.6%), Randgold Resources (GOLD +1.3%) and Gold Fields (GFI +5.4%), as well as some Australian and North American miners, according to the report.
- Acacia owns three producing gold mines in Tanzania, as well as exploration projects in the country and other parts of Africa.
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%.