Reinhardt van der Walt, an analyst from Bank of America Securities, reiterated the Buy rating on Gold Fields (GFI – Research Report). The associated price target is $26.00.
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Reinhardt van der Walt has given his Buy rating due to a combination of factors that highlight Gold Fields’ strengths and potential for growth. The company exhibits significant leverage to high gold prices, which is advantageous given the bullish forecast for gold reaching $4,000 by the second half of 2025. Additionally, Gold Fields is expected to achieve industry-leading production growth, with a forecasted compound annual growth rate of 9% from FY24 to FY27, surpassing both its own consensus and that of its global peers.
Another key factor supporting the Buy rating is Gold Fields’ strong track record in exploration and reserve replacement, particularly in Australia, where the company has outperformed its peers. The firm has also demonstrated a rational approach to mergers and acquisitions, avoiding transformational deals that carry high risks. With promising projects like the Windfall development in Canada and the Salares Norte project, Gold Fields is well-positioned to extend its mine life and continue its growth trajectory, making it an attractive investment opportunity.
In another report released on May 20, RBC Capital also maintained a Buy rating on the stock with a $25.00 price target.