| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 88 | 9.1x | 17.3x | Top tier | |
Growth | 98 | 68.8% | 7.1% | Top tier | |
Quality | 94 | — | 4.4% | Top tier | |
Safety | 88 | 0.1x | 2.6x | Top tier | |
Capital Return | 95 | 6.68% | 0.06% | Top tier | |
Momentum | 36 | -2.0% | -1.7% | Bottom tier | |
Sentiment | 69 | 4 | 3 | Top tier |
10-year US Treasury yield 5.00% as of 2026-10-23. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Gold Fields Limited produces gold through a portfolio of mines and projects across several regions, and generates revenue primarily from the sale of production; therefore, its results are affected by the volume of ounces sold, the realized gold price, and mining and sustaining costs. In the first half of fiscal year 2026, attributable production increased 12% to 1.267 million ounces, and sales volumes rose 18%, while the average realized gold price reached $4,678 per ounce, up 51%. Salares Norte led the improvement in the production mix after increasing its production by 173%, while South Deep produced approximately 151 thousand ounces in line with plan, and Granny Smith benefited from improved grades and underground productivity.
In the second quarter of fiscal year 2026 ended 2026-06-30, Gold Fields generated revenue of $5.9 billion, net income of $1.9 billion, and diluted earnings per share of 2.08, with operating cash flow of $3.1 billion. Revenue grew 70.6% from $3.5 billion in the second quarter of fiscal year 2025, gross margin expanded from 50.4% to 57.9%, and operating margin increased from 46.4% to 55.0%. The operating mix reflects a growing contribution from low-cost Salares Norte ounces, but Tarkwa experienced lower mill feed grades, and Agnew was affected by a seismic event that occurred in early 2026.
The company ended the second quarter of fiscal year 2026 with cash and investments of $2.2 billion and total debt of $2.6 billion. Diluted shares outstanding totaled 896.2 million shares, compared with 895.7 million shares in the second quarter of fiscal year 2025, representing a limited increase of 0.1%. Regarding capital allocation, the company completed a $300 million share buyback between March and July 2026 and increased the allocation for the additional returns program to $1.25 billion, with management confirming that execution will remain tied to cash generated and the evaluation of investment opportunities.
Q2 FY2026
When: fiscal year 2026
Salares Norte production at the threshold of 550 thousand gold-equivalent ounces
When: 2026-12-31
Obtaining the environmental impact assessment for the Windfall project by the critical deadline
Analyst targets have a median value of $52 within a range of $49–57, based on 6 analysts, and they measure expected growth and earnings and are inherently optimistic; the latest consensus is “Neutral,” with an average target of $52.75 and a range of $49–57.25. The industry-multiple value is $46 within a range of $35–65, based on next year's earnings and a median multiple of 8.4 for 32 companies, pricing Gold Fields similarly to its peers. The two methods converge within the overall range, but analyst targets are higher than the industry-multiple value because they incorporate company-specific growth expectations, while the industry multiple links value to peer-company pricing. The 10-year U.S. Treasury yield of 5.18% as of 2026-09-24 was used in the models, and no independently calculated discounted cash flow value was presented; nevertheless, calibration across 805 major U.S. companies indicates that analyst targets are inherently optimistic, while the cash flow model tends to be inherently conservative.
Figures in the text are as of 2026-09-27; the live price is shown at the top of the page.
Revenue for the second quarter of fiscal year 2026 ended 2026-06-30 reached approximately $5.9 billion, representing year-over-year growth of 70.6% from $3.5 billion. In the first half, sales volumes increased 18%, and the average realized gold price reached $4,678 per ounce, up 51%. The improved mix led by Salares Norte helped raise the operating margin to 55.0% from 46.4%, while net income reached $1.9 billion.
Salares Norte produced approximately 337 thousand ounces in the first half of fiscal year 2026, up 173% year over year. The mine's all-in sustaining cost was $269 per ounce, and it generated free cash flow of just under $1.2 billion. Following improved grade reconciliation, plant recoveries, and realized silver prices, management raised the fiscal year 2026 production range to 550–600 thousand gold-equivalent ounces from 500–550 thousand ounces.
Automated analysis for informational purposes only — not investment advice.
When: April 2027
Renewal of Tarkwa's leases for a proposed term of 20 years
Tarkwa's leases expire in April 2027, and the company was still awaiting a formal response from the government of Ghana after submitting the study and renewal application in November 2025 and the commercial proposal in July 2026. At Windfall, the environmental impact assessment was delayed beyond the expected date in June 2026, and management warned that the absence of approval by the end of 2026 could delay the project until at least late 2029. Environmental authority requirements also added a nitrate treatment plant costing approximately $50 million, and the company will announce an updated schedule and capital estimate after obtaining approval.
In the first half of fiscal year 2026 ended 2026-06-30, the company paid out 50% of its operating cash flow and declared a base interim dividend of 16.25 rand per share, up 132% year over year. It completed a $300 million share buyback between March and July 2026, following a special dividend of $253 million. It then added $500 million to the additional returns program, bringing the total allocation to $1.25 billion, with the program reviewed every six months based on cash generated.
Cash and investments were $2.2 billion, and total debt was $2.6 billion in the second quarter of fiscal year 2026 ended 2026-06-30. Management stated that net debt was $437 million and that the net debt-to-EBITDA ratio declined to 0.06 times by the end of June 2026. This flexibility gives the company the capacity to fund Windfall, St. Ives, and additional returns, but total debt remains higher than cash and investments on the balance sheet.
Reports published on 2026-09-26 indicated that Gold Fields contacted Northern Star Resources to discuss a potential merger or full acquisition aimed at strengthening reserves and expanding production. The information contained no announcement of a binding transaction, purchase price, or financing terms, so no specific financial impact can be measured. The matter is significant because management is also allocating capital to an additional returns program of $1.25 billion and to growth projects including Windfall and St. Ives, and it has emphasized that it focuses on cash flow growth per share, not merely on increasing ounces.