Gold Fields Ltd (NYSE: GFI) reviewed 11-11-2020
(all figures stated in USD)
Market Cap: $9.67 B Share Price: $10.62
Shares outstanding:
Cash: $500 Million as of 30 June 2020
Debt: $1.24 Billion as of 30 June 2020
Current operations: Yes
Insiders: Nil Institutional: 298 institutions own approx. 42% of shares
https://www.goldfields.com/reports/q2-2020/pdf/booklet.pdf
CEO: Nick Holland HQs: Johannesburg, South Africa
Gold Fields Limited is a major gold producer with reserves and resources in Chile, South Africa, Ghana, Australia, and Peru. It holds interests in nine operating mines
It is a Major, currently ranked #7 worldwide. The company is guiding top-end full production of 2.25 million oz of gold in 2020
Has a resource of 100 Million oz
Q2 information:
- Gold Fields produced 550,000 Au ounces in 2Q2020
- 1H2020 Earnings were $156 million or $0.18 per share
- Earnings results were more than doubled from 1H2019
- All-In Sustaining Cost was $998 (all-in cost $1065) per oz of gold 1H2020 (975 & 1060 1Q2020)
The large Salares Norte open-pit mine in Chile has been green-lighted by the company for construction, which is being managed by the Fluor Corporation’s Mining & Metals business. Salares Norte is expected to add 450,000 oz of gold per year over its first seven years at an AISC estimated at just $465. Completion is expected sometime in 2023
Bottom line:
- Low Forward PE of 8.5 and P/FCF of 7.65
- Definite acquisition candidate
Price chart compared to GDX
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