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Gold Fields
(NYSE:GFI)
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Rating:81Outperform
Price Target:
$55.00
▲(12.54% Upside)
Action:Reiterated
Date:08/25/26
The score is driven primarily by strong financial performance (materially higher profitability and free cash flow) and a positive earnings update supporting upper-end production and significant shareholder returns. Offsetting factors are commodity/cost volatility and specific execution/sovereign risks noted on the call, while technicals show strong momentum but an overbought setup.
Positive Factors
Production Growth
Higher production, led by Salares Norte and Granny Smith, expands ounces available for sale and improves operating scale. Continued delivery toward the upper end of 2026 guidance supports the durability of the multi-asset production base.
Negative Factors
Structural Cost Inflation
Higher sustaining and operating costs can compress margins even when production grows, particularly if gold prices weaken. Royalties, labor, currency and mine-depth pressures are structural risks that may keep the cost base elevated.
Read all positive and negative factors
Positive Factors
Negative Factors
Production Growth
Higher production, led by Salares Norte and Granny Smith, expands ounces available for sale and improves operating scale. Continued delivery toward the upper end of 2026 guidance supports the durability of the multi-asset production base.
Read all positive factors
Gold Fields (GFI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$42.98B
Dividend Yield3.7%
Average Volume (3M)3.76M
Price to Earnings (P/E)9.6
Beta (1Y)1.05
Revenue Growth71.19%
EPS Growth133.85%
CountryUS
Employees6,560
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)4.93
Shares Outstanding895,024,230
10 Day Avg. Volume3,416,705
30 Day Avg. Volume3,761,901
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)4.63
Price to Sales (P/S)4.45
P/FCF Ratio12.52
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$51.00Price Target Upside4.36% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)5.02
Revenue Forecast (FY)$12.11B
Gold Fields Business Overview & Revenue Model
Company Description
Gold Fields Limited is a prominent global gold mining enterprise, holding significant reserves and resources across diverse regions including Chile, South Africa, Ghana, West Africa, Australia, and Peru. Beyond its primary focus on gold, the compa...
How the Company Makes Money
Gold Fields primarily makes money by producing and selling gold. Revenue is generated when the company sells refined gold (and, where applicable, gold-bearing products) into global bullion markets at prevailing market prices, with sales volumes dr...
Gold Fields Earnings Call Summary
Earnings Call Date:Aug 25, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Feb 25, 2027
Earnings Call Sentiment Positive
The call presents a strongly positive near-term financial and operational performance: doubled free cash flow, a ~51% higher realized gold price, 12% production growth and significant returns to shareholders alongside a near-net-cash balance sheet. These substantial positives are tempered by rising unit costs (AISC +13%), portfolio-level cost inflation and specific execution/sovereign risks (Windfall permitting delays, Tarkwa lease uncertainty and localized operational disruptions). Management has clear mitigation/actions (transformation program, disciplined capital allocation, readiness to progress Windfall when permits are received) but there are non-trivial timing and cost risks on growth projects. On balance, the highlights materially outweigh the lowlights given the scale of cash generation, deleveraging and shareholder returns.Positive Updates
Strong safety performance
No fatalities and no serious injuries across the group in H1 2026, attributed to the safety improvement program (visible leadership, critical control verification and focus on lead indicators).
Negative Updates
Rising cash costs and all-in sustaining costs
Group cash costs rose ~10% and all-in sustaining costs (AISC) increased ~13% to $1,893/oz (all-in cost ~$2,125/oz). Drivers include higher royalties, mining cost inflation, stronger producing currencies, higher strip ratios and deeper mining structural costs.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong safety performance
No fatalities and no serious injuries across the group in H1 2026, attributed to the safety improvement program (visible leadership, critical control verification and focus on lead indicators).
Read all positive updates
Company Guidance
Management guided that H2 delivery is expected to keep production toward the upper end of guidance while all‑in sustaining costs are expected toward the midpoint (~$1,893/oz) and all‑in costs slightly toward the lower end (~$2,125/oz); group CapEx was revised slightly down with sustaining capital unchanged (sustaining capital cited at ~$497/oz). They highlighted strong H1 metrics that underpin the guidance: adjusted free cash flow $2.225bn (free cash flow yield ~11%), net debt $437m (net debt/EBITDA 0.06x; excluding lease liabilities net cash), sales volumes +18%, attributable production up ~12 to ~1.27Moz (Salares Norte 337koz, +173%; Granny Smith 147koz, +10%; South Deep 151koz), average realized gold price +51% to $4,678/oz, cash costs +10% and AISC +13%. Capital allocation guidance remains to fund sustaining spend (~$0.6bn in H1), growth (~$0.3bn in H1), maintain a 35% base dividend policy and pursue additional shareholder returns (interim dividend ZAR16.25/share, +132% YoY; $300m buybacks completed Mar–Jul; $500m added to the top‑up program, taking it to $1.25bn, $553m delivered to date).Gold Fields Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
78
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.24B | 8.78B | 5.20B | 4.50B | 4.29B | 4.20B |
| Gross Profit | 6.44B | 4.84B | 2.21B | 1.64B | 1.57B | 1.71B |
| EBITDA | 8.21B | 5.29B | 2.66B | 2.07B | 2.00B | 2.13B |
| Net Income | 4.41B | 3.58B | 1.25B | 703.30M | 711.00M | 789.30M |
Balance Sheet | ||||||
| Total Assets | 15.60B | 15.23B | 10.14B | 8.23B | 7.34B | 7.35B |
| Cash, Cash Equivalents and Short-Term Investments | 2.20B | 1.78B | 860.20M | 648.70M | 769.40M | 524.70M |
| Total Debt | 2.63B | 3.22B | 2.95B | 1.67B | 1.47B | 1.49B |
| Total Liabilities | 6.38B | 6.55B | 4.78B | 3.61B | 3.00B | 3.22B |
| Stockholders Equity | 8.97B | 8.43B | 5.20B | 4.48B | 4.34B | 4.13B |
Cash Flow | ||||||
| Free Cash Flow | 4.50B | 3.12B | 709.20M | 437.60M | 614.30M | 463.80M |
| Operating Cash Flow | 5.97B | 4.55B | 1.96B | 1.56B | 1.68B | 1.55B |
| Investing Cash Flow | -2.70B | -2.77B | -2.59B | -1.37B | -1.07B | -1.07B |
| Financing Cash Flow | -2.16B | -938.11M | 861.70M | -286.20M | -361.30M | -832.80M |
Gold Fields Technical Analysis
Positive
48.87
Price Trends
36.55
Positive
39.63
Positive
43.05
Positive
Market Momentum
3.41
Negative
73.08
Negative
90.85
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GFI, the sentiment is Positive. The current price of 48.87 is above the 20-day moving average (MA) of 40.74, above the 50-day MA of 36.55, and above the 200-day MA of 43.05, indicating a bullish trend. The MACD of 3.41 indicates Negative momentum. The RSI at 73.08 is Negative, neither overbought nor oversold. The STOCH value of 90.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GFI.
Gold Fields Risk Analysis
Gold Fields disclosed 49 risk factors in its most recent earnings report. Gold Fields reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Gold Fields Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $42.98B | 9.59 | 51.87% | 5.40% | 71.19% | 133.85% | |
81 Outperform | $22.19B | 17.02 | 12.49% | 0.13% | 116.79% | 211.59% | |
78 Outperform | $142.40B | 16.55 | 25.02% | 1.09% | 23.61% | 42.29% | |
78 Outperform | $62.31B | 15.73 | 45.77% | 5.77% | ― | ― | |
76 Outperform | $22.69B | 29.02 | 11.55% | 0.93% | 93.51% | 34.48% | |
71 Outperform | $14.34B | 13.84 | 32.51% | 2.46% | 31.10% | 57.19% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
GFI
Gold Fields
48.00
16.87
54.21%
CDE
Coeur Mining
22.21
9.67
77.04%
HMY
Harmony Gold Mining
21.03
8.66
70.01%
NEM
Newmont Mining
132.29
60.09
83.22%
RGLD
Royal Gold
268.96
94.44
54.11%
AU
Anglogold Ashanti PLC
118.40
65.65
124.44%
Gold Fields Corporate Events
Gold Fields Flags Surge in H1 2026 Earnings and Reaffirms Full-Year Guidance
Aug 11, 2026
Gold Fields reported a strong first-half performance for the six months to 30 June 2026, flagging a 72% to 90% jump in headline earnings per share and a 71% to 89% rise in basic earnings versus the prior year, driven by higher gold-equivalent sale...
Gold Fields Chair MacKenzie Buys Shares in Open-Market Trade
Jun 24, 2026
On 23 June 2026, Gold Fields’ non-executive director and chair, JF MacKenzie, acquired 500 Gold Fields ordinary shares on the open market at a price of R549.97 per share, for a total consideration of R274,985.00. The transaction, which is a ...
Gold Fields Clarifies Status of Tarkwa Mine Lease Renewal Talks
Jun 22, 2026
On 22 June 2026, Gold Fields issued a clarification addressing recent media reports about the renewal of mining leases for its Tarkwa mine in Ghana. The company said its Ghanaian subsidiary filed an early application in November 2025 to renew five...
Gold Fields Discloses Non-Executive Director’s ADR Purchase and Files Form 6-K
Jun 3, 2026
On 2 June 2026, Gold Fields non-executive director J.E. McGill purchased 500 Gold Fields American Depositary Receipts on the open market at a price of US$37.70 per ADR, for a total consideration of US$18,850. The transaction, disclosed on 3 June 2...
Gold Fields Shareholders Back All Resolutions at 21 May 2026 AGM
May 26, 2026
Gold Fields reported the results of its hybrid annual general meeting held on 21 May 2026, where 86.97% of its 895,024,247 issued shares were present or represented. Shareholders voted via poll on all resolutions, reflecting broad investor partici...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.