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Gold Fields reports Q4 2018 trading update; shares down ~5% in pre-market

Feb. 06, 2019 9:06 AM ETGold Fields Limited (GFI) StockGFI, GFIOFBy: Vandana Singh, SA News Editor2 Comments
  • Gold Fields (NYSE:GFI) slips ~4.7% (pre-market) as the company expects FY18 headline EPS to be ~$0.05-0.09, down 65-81% Y/Y.
  • Normalized EPS expected to be $0.01-0.05 as compared $0.19 for FY17
  • GFI says 2018 revenue to be lower than in FY 2017 primarily due to lower gold sold at South Deep, as well as the sale of Darlot in 2017.
  • For Q4 2018, attributable gold equivalent production is expected to be 509koz, with all-in sustaining costs of US$1,016/oz and all-in costs of $1,213/oz
  • For FY18,  gold equivalent production is expected to be 2.04Moz, higher than revised guidance of 2Moz.
  • FY18 financial results will be reported on 15 February 2019.

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