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Gold Fields
(NYSE:GFI)
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Rating:76Outperform
Price Target:
$37.00
▼(-25.94% Downside)
Action:Reiterated
Date:06/07/26
The score is driven by very strong 2025 financial performance and supportive valuation (low P/E and high yield). These positives are tempered by weak price/technical trends (below key moving averages with negative MACD) and earnings-call risks around cost inflation, elevated capex, and Ghana regulatory uncertainty.
Positive Factors
Strong 2025 cash generation
A large, high-quality free cash flow and operating cash flow rebound in 2025 materially improves the company's ability to fund growth, pay shareholders and service debt. Sustained cash generation provides durable financial optionality even across commodity cycles, reducing refinancing and liquidity risk.
Negative Factors
Ghana lease & royalty uncertainty
Outstanding lease-renewal negotiations and proposed royalty changes create material policy and cash-flow uncertainty for a core asset. Potential higher royalties or state participation would structurally raise unit costs and could shrink long-term free cash flow and project economics at Tarkwa.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong 2025 cash generation
A large, high-quality free cash flow and operating cash flow rebound in 2025 materially improves the company's ability to fund growth, pay shareholders and service debt. Sustained cash generation provides durable financial optionality even across commodity cycles, reducing refinancing and liquidity risk.
Read all positive factors
Gold Fields (GFI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$29.98B
Dividend Yield1.51%
Average Volume (3M)3.52M
Price to Earnings (P/E)8.2
Beta (1Y)0.94
Revenue Growth68.87%
EPS Growth187.55%
CountryUS
Employees6,560
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)4.00
Shares Outstanding895,024,230
10 Day Avg. Volume4,394,797
30 Day Avg. Volume3,516,673
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 Cap1.27
Enterprise Value/Revenue4.35
Enterprise Value/Gross Profit8.03
Enterprise Value/Ebitda6.01
Forecast
1Y Price Target
$60.81Price Target Upside21.72% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)5.59
Revenue Forecast (FY)$12.83B
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:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 21, 2026
Earnings Call Sentiment Positive
The call conveys a predominantly positive performance: material production growth, strong cash generation, substantial reserve replacement and a marked increase in shareholder returns underpin a healthy operational and financial momentum. Offsetting risks include modest cost inflation, elevated capital requirements (especially in Australia), specific operational declines (Damang, Tarkwa), safety incidents, high contractor turnover at Gruyere and potential Ghana royalty/lease uncertainty that could raise future unit costs. Management has clear mitigation plans (portfolio optimization, capital allocation framework, community/permitting progress and contractor remediation), and balance-sheet metrics remain strong, supporting continued returns and growth investment.Positive Updates
Strong Production Growth
Attributable production rose 18% year-on-year to 2.44 million ounces, at the upper end of guidance (2.25–2.45 Moz). Salares Norte ramp-up was a major contributor to the increase.
Negative Updates
Rising Unit Costs and Inflationary Pressures
All-in costs increased ~3% year-on-year and all-in sustaining costs increased ~1% year-on-year. Company cited cost inflation, strengthening producer currencies, higher royalties and higher sustaining capital (e.g., winterization at Salares) as drivers.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Production Growth
Attributable production rose 18% year-on-year to 2.44 million ounces, at the upper end of guidance (2.25–2.45 Moz). Salares Norte ramp-up was a major contributor to the increase.
Read all positive updates
Company Guidance
Management reiterated 2026 guidance in line with the Capital Markets Day: group production of 2.4–2.6 million ounces, total capital expenditure of $1.9–$2.1 billion, all‑in sustaining costs of $1,800–$2,000/oz and all‑in costs of $2,075–$2,300/oz. Salares Norte guidance remains 525,000–550,000 oz gold‑equivalent with AISC of $450–$600/oz. Windfall milestones target FID mid‑2026, main environmental approval and secondary permits by end‑H1/June 2026, site clearance and core infrastructure in 2027, plant construction in H1 2027, commissioning late‑2028 and first gold in 2029. Management noted portfolio metrics that underpin the plan, including ~4.0 million oz of reserve additions (a 9% increase) versus 2.5 million oz of depletion, and a capital‑allocation framework that directs roughly 35% of free cash flow (before discretionary growth) to shareholder returns.Gold Fields Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
78
Positive
Cash Flow
83
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.78B | 5.20B | 4.50B | 4.29B | 4.20B |
| Gross Profit | 4.84B | 2.21B | 1.64B | 1.57B | 1.71B |
| EBITDA | 5.29B | 2.66B | 2.07B | 2.00B | 2.13B |
| Net Income | 3.58B | 1.25B | 703.30M | 711.00M | 789.30M |
Balance Sheet | |||||
| Total Assets | 15.23B | 10.14B | 8.23B | 7.34B | 7.35B |
| Cash, Cash Equivalents and Short-Term Investments | 1.78B | 860.20M | 648.70M | 769.40M | 524.70M |
| Total Debt | 3.22B | 2.95B | 1.67B | 1.47B | 1.49B |
| Total Liabilities | 6.55B | 4.78B | 3.61B | 3.00B | 3.22B |
| Stockholders Equity | 8.43B | 5.20B | 4.48B | 4.34B | 4.13B |
Cash Flow | |||||
| Free Cash Flow | 3.12B | 709.20M | 437.60M | 614.30M | 463.80M |
| Operating Cash Flow | 4.55B | 1.96B | 1.56B | 1.68B | 1.55B |
| Investing Cash Flow | -2.77B | -2.59B | -1.37B | -1.07B | -1.07B |
| Financing Cash Flow | -938.11M | 861.70M | -286.20M | -361.30M | -832.80M |
Gold Fields Technical Analysis
Negative
49.96
Price Trends
40.65
Negative
44.89
Negative
43.60
Negative
Market Momentum
-1.98
Positive
38.40
Neutral
14.05
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GFI, the sentiment is Negative. The current price of 49.96 is above the 20-day moving average (MA) of 36.53, above the 50-day MA of 40.65, and above the 200-day MA of 43.60, indicating a bearish trend. The MACD of -1.98 indicates Positive momentum. The RSI at 38.40 is Neutral, neither overbought nor oversold. The STOCH value of 14.05 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $29.98B | 8.16 | 50.82% | 1.51% | 68.87% | 187.55% | |
76 Outperform | $16.57B | 12.83 | 16.27% | ― | 116.56% | 325.61% | |
76 Outperform | $102.62B | 12.42 | 25.22% | 0.95% | 25.14% | 73.19% | |
73 Outperform | $9.90B | 9.98 | 32.51% | 0.87% | 31.10% | 57.19% | |
73 Outperform | $17.65B | 24.76 | 11.91% | 0.77% | 70.98% | 38.91% | |
70 Outperform | $41.22B | 11.90 | 43.79% | 2.82% | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
GFI
Gold Fields
33.53
10.59
46.18%
CDE
Coeur Mining
16.02
7.17
81.02%
HMY
Harmony Gold Mining
15.53
1.83
13.32%
NEM
Newmont Mining
96.13
38.48
66.76%
RGLD
Royal Gold
207.95
31.65
17.95%
AU
Anglogold Ashanti PLC
81.62
38.44
89.01%
Gold Fields Corporate Events
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...
Gold Fields Starts 2026 Strong with Higher Output, Lower Debt and Safety Gains
May 7, 2026
Gold Fields reported a robust start to 2026 in an operational update dated 7 May 2026, highlighting a fatality- and serious-injury-free first quarter and progress on a multi-year Safety Improvement Plan. The company also advanced business simplifi...
Gold Fields Publishes 2025 B-BBEE Compliance Report and Certificate
Apr 2, 2026
On 31 March 2026, Gold Fields Limited announced that its 2025 Broad-Based Black Economic Empowerment (B-BBEE) Annual Compliance Reports and its 2025 B-BBEE Certificate have been published. The disclosure, made in line with JSE Listings Requirement...
Gold Fields Releases 2025 Annual Reports and Unveils New Sustainability and Tax Transparency Disclosures
Mar 30, 2026
Gold Fields has published its full 2025 suite of annual reports for the year ended 31 December 2025, including its Integrated Annual Report, Annual Financial Report with audited results, Sustainability Report, Tax Transparency Report, Mineral Reso...
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.