Gold Fields Stock Hits 52-Week High: What's Driving Its Performance?
Shares of Gold Fields Limited GFI scaled a new 52-week high of $20.40 on Friday before ending the session slightly lower at $20.19. The increase was fueled by rising gold prices and GFI’s 2024 results.The company currently has a market capitalization of $18.12 billion and a Zacks Rank #3 (Hold).What’s Aiding Gold Fields’ Stock?Solid 2024 Performance: In 2024, GFI’s revenues increased 16% year over year to $5.20 million, driven by 25% higher gold prices. The company’s operational and financial performance significantly improved in the second half of 2024.In 2024, Gold Fields acquired Osisko Mining. This move is in sync with GFI’s goal to strengthen its portfolio through investments in high-quality and long-life assets. The acquisition enables GFI to expand its presence in Québec — a Tier 1 mining jurisdiction. It will allow the company to use its expertise in greenfields exploration, project development and underground mining.Upbeat Outlook: In 2025, GFI expects gold equivalent production of 2.250-2.450 million ounces, which indicates year-over-year growth of 13% at the mid-point. In 2025, the company expects to focus on reliable and cost-effective delivery. It will continue to progress its strategic priorities that align with its three strategic pillars of the business. Increase in Metal Prices: Gold prices were on an uptrend in 2024, which continued in 2025. Several factors have contributed to this upward trajectory, including increased geopolitical tensions, a depreciating U.S. dollar, the potential for monetary policy easing and continuous purchasing by central banks. The yellow metal broke through the $2,900-per-ounce threshold for the first time on Feb. 10 and is currently around $2,910. This is fueled by safe-have demand amid escalating global trade tensions.Silver prices are around $32 per ounce, backed by expectations of steady demand for the metal in the electrification industry and recent expansion noted in the manufacturing sector. This pickup in the prices of gold and silver is likely to improve Gold Fields’ results in the upcoming quarters.GFI’s Stock Price PerformanceThe company’s shares have gained 30.6% in a year compared with the industry’s growth of 38.8%. Image Source: Zacks Investment Research Stocks to ConsiderSome better-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS, SSR Mining Inc. SSRM and ArcelorMittal S.A. MT. All these stocks sport a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Carpenter Technology has an average trailing four-quarter earnings surprise of 15.7%. The Zacks Consensus Estimate for the company’s 2025 earnings is pegged at $6.95 per share. CRS shares skyrocketed 170.3% in the last year.ArcelorMittal has an average trailing four-quarter earnings surprise of 4.1%. The Zacks Consensus Estimate for MT’s 2025 earnings is pegged at $3.72 per share. Its shares gained 28.9% in the last year.SSR Mining has an average trailing four-quarter earnings surprise of 155.6%. The Zacks Consensus Estimate for the company’s 2025 earnings is pegged at 85 cents per share. SSRM shares soared 127.3% in the last year.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ArcelorMittal (MT): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Gold Fields Limited (GFI): Free Stock Analysis Report Silver Standard Resources Inc. (SSRM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
