Gold Fields (GFI) AI Stock Analysis

• Market Cap: $52.17B
• Dividend Yield: 1.51%
• Average Volume (3M): 3.48M
• Price to Earnings (P/E): 14.7
• Beta (1Y): 0.57
• Revenue Growth: 49.62%
• EPS Growth: 195.39%
• Country: US
• Employees: 6,560
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 2.12
• Shares Outstanding: 895,024,230
• 10 Day Avg. Volume: 2,370,045
• 30 Day Avg. Volume: 3,477,264
• PEG Ratio: 0.06
• Price to Book (P/B): 4.63
• Price to Sales (P/S): 4.45
• P/FCF Ratio: 12.52
• Enterprise Value/Market Cap: 1.04
• Enterprise Value/Revenue: 6.15
• Enterprise Value/Gross Profit: 11.35
• Enterprise Value/Ebitda: 8.50
• 1Y Price Target: $66.00
• Price Target Upside: 12.17% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4
• EPS Forecast (FY): 5.69
• Revenue Forecast (FY): $12.34B

• Rating: 75 Outperform
• Price Target: $59.00 ▲(0.27% Upside)
• Action: Reiterated Date: 02/21/26
• Date: Action: Reiterated 02/21/26

The score is driven primarily by strong financial performance in 2025 (profitability and free cash flow) and a constructive earnings-call outlook with reiterated guidance and shareholder returns. Technicals are neutral-to-positive, while valuation is the main drag given the higher P/E and modest dividend yield alongside cyclical and cost/regulatory risks.

Positive Factors

Strong cash generation

Material free cash flow in 2025 and operating cash flow that comfortably covered net income demonstrate durable cash-generation capacity. This strengthens ability to fund growth, meet elevated capex, sustain dividends/buybacks, and weather weaker price cycles without immediate financing strain.

Reserve replacement and exploration

Sustained reserve additions offsetting depletion improve medium-term production visibility and mine life. A 9% reserve increase supports organic growth pipelines, lowers dependency on large acquisitions, and underpins future output and cash generation through the planning horizon.

Portfolio upgrades & production ramp

Commercial ramp at Salares Norte and consolidation of Gruyere broaden the producing asset base and diversify geography. Steady-state throughput and better recoveries enhance sustainable volume, reducing single-mine risk and supporting longer-term operating scale and margin resilience.

Negative Factors

Earnings and cashflow cyclicality

Historical swings in free cash flow and earnings highlight sensitivity to gold prices, operating disruptions and timing of capex. This cyclical variability constrains forecast certainty, complicates capital allocation and raises execution risk in weaker commodity environments.

Elevated near-term capital intensity

Higher sustained capex, notably in Australia, increases funding needs and exposes returns to construction and inflation risks. Elevated investment levels compress near-term free cash conversion and make long-term unit-cost outcomes more dependent on execution and commodity cycles.

Ghana regulatory & royalty risk

Imminent royalty changes and lease-renewal uncertainty in Ghana could raise unit costs materially if enacted or extended to new terms. That regulatory exposure risks higher operating costs and potential renegotiation outcomes that would structurally affect margins at Ghana assets.

Gold Fields Business Overview & Revenue Model

Company Description

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, West Africa, Australia, and Peru. The company also explores for copper deposits. It holds interests in 9 operating mines with an annual gold-equivalent production of approximately 2.34 million ounces, as well as gold mineral reserves of approximately 48.6 million ounces and mineral resources of approximately 111.8 million ounces. Gold Fields Limited was founded in 1887 and is based in Sandton, South Africa.

How the Company Makes Money

Gold Fields generates revenue primarily through the sale of gold, which is its main product. The company's revenue model is largely based on the volume of gold it mines and the prevailing market price of gold, which can fluctuate significantly due to economic conditions and investor demand. Additionally, the company earns revenue from the sale of by-products like copper and silver, contributing to its overall financial performance. Key revenue streams include direct sales of gold bullion, sales of copper and silver, and other related mining activities. Significant partnerships, joint ventures, and collaborations with other mining firms or suppliers can also enhance operational efficiency and cost management, further contributing to Gold Fields' profitability. The company's strategic focus on cost control, improving operational efficiencies, and exploring new mining opportunities also plays a vital role in its earnings.

Gold Fields Financial Statement Overview

Summary

Strong 2025 profitability and cash generation (notably higher revenue, very strong net margins, and a large free-cash-flow rebound). Balance sheet leverage ratios improved, but absolute debt rose and results/cash flows show commodity-driven variability.

Income Statement

Gold Fields shows a sharp step-up in profitability in 2025: revenue rose to ~$8.8B (up 33.7% vs. 2024) and net income jumped to ~$3.6B, with very strong margins (net margin ~40.8% vs. ~23.9% in 2024). Profitability has also improved steadily from 2022–2024, culminating in a clear breakout year. The main watch-out is cyclicality/volatility: margins and earnings have moved meaningfully year-to-year historically, which is typical for gold producers but still raises sustainability risk after an exceptional 2025.

Balance Sheet

The balance sheet looks solid with equity building meaningfully by 2025 (~$8.4B) and leverage staying moderate (debt-to-equity ~0.43 in 2025, improved from ~0.57 in 2024). Total assets expanded alongside the business, supporting scale-up. A key weakness is that absolute debt also increased by 2025 (~$3.6B vs. ~$2.9B in 2024), which can matter in a commodity downturn even if leverage ratios remain reasonable.

Cash Flow

Cash generation strengthened materially in 2025 with operating cash flow of ~$4.5B and free cash flow of ~$3.1B, including very strong free-cash-flow growth (~83%). Cash flow also appears higher-quality in 2025, with operating cash flow covering net income well (coverage ~2.68). The main drawback is variability across years: free cash flow has swung (including declines in 2021 and 2023), indicating cash generation can be uneven through the cycle.

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	4.76B	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	3.60B	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

• Technical Analysis Sentiment: Positive
• Last Price: 58.84
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GFI, the sentiment is Positive. The current price of 58.84 is above the 20-day moving average (MA) of 54.23, above the 50-day MA of 50.79, and above the 200-day MA of 37.29, indicating a bullish trend. The MACD of 1.90 indicates Negative momentum. The RSI at 61.55 is Neutral, neither overbought nor oversold. The STOCH value of 90.45 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GFI.

Gold Fields Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HMY	78 Outperform	$14.21B	17.86	32.05%	0.87%	29.08%	72.12%
AU	78 Outperform	$64.51B	24.62	―	2.82%	26.43%	―
CDE	76 Outperform	$17.43B	29.49	26.41%	―	72.94%	―
GFI	75 Outperform	$52.17B	14.72	52.47%	1.51%	49.62%	195.39%
RGLD	74 Outperform	$25.43B	44.72	9.07%	0.77%	28.11%	66.85%
NEM	72 Outperform	$141.42B	20.33	22.21%	0.95%	26.25%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Gold Fields Corporate Events

Gold Fields Unveils Record 2025 Profit and US$1.7 Billion Capital Return Programme

Gold Fields reported on 19 February 2026 that profit attributable to shareholders for the year ended 31 December 2025 surged to US$3.57 billion, or US$3.99 per share, from US$1.25 billion a year earlier, driven by higher gold-equivalent output of 2.44 million ounces and stronger realized revenue per ounce. The group cut net debt to US$1.44 billion, improved its net debt-to-EBITDA ratio to 0.26, and lifted total 2025 dividends to 2,550 SA cents per share while adding US$353 million in special returns via a one-off dividend and share buybacks, taking total shareholder distributions to US$1.7 billion, or 54% of adjusted free cash flow, underscoring robust cash generation and a more aggressive capital return stance.

The board declared a final dividend of 1,850 SA cents per share and a special dividend of 450 SA cents per share out of income reserves, with both subject to a 20% local dividend withholding tax for non-exempt investors. The dividends, scheduled for payment on 16 March 2026 to shareholders on record as of 13 March, signal management’s confidence in the company’s financial position and reinforce its appeal to income-focused investors at a time of elevated gold prices and solid operational performance across its portfolio. The reviewed condensed consolidated financial statements for 2025 received an unqualified conclusion from PricewaterhouseCoopers, providing additional comfort to stakeholders over the quality of the reported results.

The most recent analyst rating on (GFI) stock is a Hold with a $61.00 price target. To see the full list of analyst forecasts on Gold Fields stock, see the GFI Stock Forecast page.

Gold Fields Names John Fraser MacKenzie as New Board Chair, Effective May 2026

On 19 February 2026, Gold Fields announced that its board has elected independent non-executive director John Fraser MacKenzie as chair of the board and chair of the Nomination and Governance Committee, effective 25 May 2026 after the company’s 2026 annual general meeting. MacKenzie, a veteran mining executive with more than 30 years’ experience and current non-executive chairman of Capstone Copper, succeeds Yunus Suleman, who will retire as board chair and non-executive director on the same date.

Gold Fields highlighted that under Suleman’s tenure, beginning when he joined the board in 2016 and became chair in June 2022, the board strengthened its governance framework and sharpened its focus on ethics, risk oversight, and strategic decision-making. The transition signals continuity in the company’s governance-led strategy, which prioritises safe and reliable production, sustainable environmental and social outcomes, and portfolio value, and is expected to reassure investors about board stability and leadership depth during the succession.

The most recent analyst rating on (GFI) stock is a Buy with a $57.00 price target. To see the full list of analyst forecasts on Gold Fields stock, see the GFI Stock Forecast page.

Gold Fields Buys R444.7 Million in Shares for 2012 Management Incentive Plan

On 17 December 2025, Gold Fields’ management share incentive scheme executed an on-market purchase of 600,000 Gold Fields ordinary shares at an average price of R741.1437 per share, for a total consideration of approximately R444.7 million. These shares are intended for allocation to nominated participants on 25 February 2026 under the company’s 2012 Share Plan, with the transaction classified as a direct beneficial interest and carried out with the required regulatory clearance, signalling ongoing use of equity-based incentives to reward and retain key personnel and align them with shareholder interests.

The most recent analyst rating on (GFI) stock is a Buy with a $55.00 price target. To see the full list of analyst forecasts on Gold Fields stock, see the GFI Stock Forecast page.

Gold Fields Adds Non-Executive Director Rawlinson to Technical Committee

On 12 December 2025, Gold Fields announced a change in the responsibilities of one of its non-executive directors, following an earlier disclosure on 27 November 2025 regarding board committee allocations for directors MacKenzie and Rawlinson. The board has approved the appointment of non-executive director Michael Ian Rawlinson to also serve on the Board’s Technical Committee with effect from 1 December 2025, a move that strengthens the governance and technical oversight structure of the group and signals continued refinement of its board committee composition for shareholders and other stakeholders.

The most recent analyst rating on (GFI) stock is a Buy with a $55.00 price target. To see the full list of analyst forecasts on Gold Fields stock, see the GFI Stock Forecast page.

Gold Fields Announces Board Changes Effective December 2025

On November 27, 2025, Gold Fields Limited announced changes to the responsibilities of its non-executive directors, effective December 1, 2025. Mr. John Fraser MacKenzie and Mr. Michael Ian Rawlinson, both non-executive directors, have been appointed to various Board sub-committees. This strategic move is likely to enhance governance and strategic oversight within the company, potentially impacting its operational efficiency and stakeholder confidence.

The most recent analyst rating on (GFI) stock is a Buy with a $48.00 price target. To see the full list of analyst forecasts on Gold Fields stock, see the GFI Stock Forecast page.