Gold Fields surges as South Deep costs fall

Shares of Gold Fields last traded at $2.60, near the low of its 52-week range of $2.04 to $6.01. Gold Fields Limited was the topic in 3 analyst reports since August 31, 2015 according to StockzIntelligence Inc. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move.

Gold Fields Limited (NYSE:GFI) rose 4.33% or 0.09 points on Wednesday and made its way into the gainers of the day.

SHAREHOLDERS have cheered Gold Fields’ strong operational performance, particularly at its problematic South Deep mine in SA, and its falling costs outlook which will boost free cash flows.

Gold Fields was tweaking the way it was extracting the enormous reef package it had targeted for a purely mechanised mining method, but it was revisiting the narrow Ventersdorp Contact Reef, which it stopped mining in a conventional, labour-intensive way in 2008, said Mr Holland. The stock’s market cap is $1.97 billion.

On the commodity markets, the December gold contract was up US$2.70 at US$1,071.4, while the January crude oil contract was down 16 cents at US$41.79. The company earned $635.10 million during the quarter, compared to analysts’ expectations of $699.20 million. It now has negative earnings.

Gold Fields could place Damang under care and maintenance – meaning that although the mine is closed there is the potential to restart production at a later date – or inject more cash into the operation, the company said. The Firm in Australia operates four mines offering St Ives, an operation composed of a mix of owner mined open pit and underground operations; Agnew/Lawlers, a mine located in the Norseman-Wiluna Greenstone Belt; Granny Smith, a mine located within the Yilgarn Craton, and Darlot, a mine situated in the Eastern Goldfields State of the Yilgarn Craton. In South Africa, it runs South Deep Gold Mine, located in the districts of Westonaria and Vanderbijlpark (Gauteng province). The Organization ‘s other projects include Far Southeast Project, Philippines, Chile, and Salares Norte.