Gold Fields delivered record H1 results, with production up 12% and adjusted FCF more than doubling to $2.23 billion. I target a $49–$52 share price, supported by a 5% dividend yield, sector-low EV/EBITDA, and robust cash returns. Salares Norte's guidance was raised live, now expected to exceed 550–600koz, driving over half of the group's free cash flow.
Gold Fields Limited (GFI) Q2 2026 Earnings Call Transcript
Gold Fields NYSE: GFI reported a stronger first half for the six months ended June 30, 2026, driven by higher production, higher sales volumes and a substantially stronger realized gold price. The company said it increased attributable production 12% year over year to 1.267 million ounces while generating adjusted free cash flow of $2.225 billion, more than double the prior-year period.
The company more than doubled its interim dividend and said it would return an additional $500 million to shareholders over the year.
Gold Fields remains a "Buy" despite a 35% decline and gold's 25% drawdown, with shares now in value territory. GFI's Q1 production rose 15% YoY to 633,000 ounces, but all-in sustaining costs increased 13% to $1,829/oz due to inflation and currency pressures. I lower my price target to $48, assuming $4 normalized EPS and a 12x P/E, reflecting lower gold prices and higher forward oil and interest rates.
Gold Fields NYSE: GFI reported a “solid start” to 2026, with Chief Executive Officer Mike Fraser saying the miner remains on track to meet its full-year production and cost guidance despite operational disruptions at several mines and rising input-cost pressures.
The miner said higher oil prices could hurt its ability to meet cost expectations.
Gold Fields Limited (GFI) offers a rare combination of 4% yield, strong free cash flow, and high leverage to gold prices, trading at a steep valuation discount. GFI guides for 2.4–2.6 million ounces in 2026, with costs remaining elevated, but a clear path to 3 million ounces by 2030 and lower future AISC, via the Windfall project. The company's dividend policy targets a 35% payout of pre-growth FCF, with $750 million allocated to special dividends and buybacks over two years, supporting a 4%+ forward yield.
Bamco Inc. NY lowered its position in Gold Fields Limited (NYSE: GFI) by 34.1% during the undefined quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 370,774 shares of the company's stock after selling 191,525 shares during the quarter. Bamco Inc. NY's holdings in
After losing some value lately, a hammer chart pattern has been formed for Gold Fields (GFI), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.
Does Gold Fields (GFI) have what it takes to be a top stock pick for momentum investors? Let's find out.
Here is how Gold Fields (GFI) and Impala Platinum Holdings Ltd. (IMPUY) have performed compared to their sector so far this year.