Analyst Consensus ?
ConsensusHold17 ratings
Bullish847.1%
Neutral952.9%
Bearish00.0%
Gold Fields Limited · GFI · FY2024 Q1 · Calendar Q2 2024
Gold Fields Q1 2024: Production Falls as Costs Rise
Gold Fields' near-term recovery case rests on a second-half production improvement and Salares Norte ramp-up, but the quarter weakened the evidence for a smooth earnings trajectory: production declined, costs increased materially and safety incidents remain a central risk.
Reported Session unavailableNYSEBasic Materials
$32.91B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.43
Consensus $0.06
EPS surprise
+624.0%
Reported versus consensus
Reported revenue
$2.12B
Consensus —
Revenue surprise
—
Reported versus consensus
Market reaction
close-to-close (session unavailable)
Stock move
+0.4%
Event window
SPY move
-0.5%
Same window
Abnormal move
+0.9%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
+12.5%
Up to 20 sessions
GFISPY benchmark
Ask FN2 about GFI FY2024 Q1
Transcript, numbers and history already loaded
Why did GFI rise 0.4% after beating EPS estimates in FY2024 Q1?What changed in GFI's guidance and outlook in FY2024 Q1?Give me the bull and bear case for GFI after FY2024 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, the current analysis shows a sharper operational setback: Q1 production declined 18% year over year and all-in sustaining costs increased 51%. Two fatal incidents led to an independent safety review, while management continued to point to a second-half recovery, Salares Norte, renewable projects and exploration as the main supports.
Guidance delta
Overall 2024 guidance was maintained, although South Deep and Salares Norte guidance was revised down.
Key takeaways
- Attributable gold production fell 18% year over year to 464,000 ounces.
- All-in sustaining costs rose 51% year over year to $2,115 per ounce.
- Management expects a second-half production recovery, led by Salares Norte and other key assets.
- Two fatal incidents prompted an independent safety culture review.
- The balance sheet remained strong, with net debt to EBITDA at 0.51x.
Management priorities
- Complete the safety culture review and related leadership programs.
- Ramp Salares Norte toward commercial production in the second half of 2024.
- Advance renewable power projects at St Ives and South Deep.
- Continue exploration and pursue growth opportunities, including the Windfall joint venture.
Follow GFI with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$37.6Current
$13.5Low
$35.42Average
$57.25High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 17, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Sep 16, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 16, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Jul 14, 2026 |
| Canaccord Genuity | Buy | Hold | Upgrade | Apr 24, 2026 |
| Citigroup | Buy | Buy | Maintain | Nov 26, 2025 |
| BMO Capital | Market Perform | Market Perform | Maintain | Aug 25, 2025 |
| HSBC | Hold | Buy | Downgrade | Apr 17, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Feb 12, 2021 |
| Bank of America | Buy | Underperform | Upgrade | Apr 13, 2018 |
| B of A Securities | Buy | Underperform | Upgrade | Apr 13, 2018 |
| Macquarie | Neutral | Outperform | Downgrade | Mar 15, 2016 |
| Scotia Howard Weil | Perform | Sector Perform | Maintain | Aug 31, 2015 |
| UBS | Neutral | Sell | Upgrade | May 13, 2015 |
| Morgan Stanley | Equal Weight | Overweight | Downgrade | Feb 18, 2014 |
| Exane BNP Paribas | Buy | Buy | Maintain | Nov 5, 2013 |
| CIBC | Sector Perform | Underperform | Upgrade | Oct 3, 2013 |
| Deutsche Bank | Buy | Hold | Upgrade | Apr 17, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $37.6. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Analyst unavailable | $38 | $35.55 | +1.1% | Oct 15, 2026 |
| Scotiabank | Analyst unavailable | $52 | $33.13 | +38.3% | Jul 14, 2026 |
| RBC Capital | Analyst unavailable | $49 | $33.8 | +30.3% | Jul 9, 2026 |
| Canaccord Genuity | Analyst unavailable | $57.25 | $43.96 | +52.3% | Apr 24, 2026 |
| Scotiabank | Analyst unavailable | $61 | $57.59 | +62.2% | Jan 26, 2026 |
| RBC Capital | Josh Wolfson | $45 | $39.15 | +19.7% | Nov 24, 2025 |
| Scotiabank | Analyst unavailable | $47 | $40.9 | +25.0% | Oct 23, 2025 |
| Canaccord Genuity | Analyst unavailable | $39 | $41 | +3.7% | Oct 13, 2025 |
| Capital One Financial | Analyst unavailable | $32 | $31.12 | -14.9% | Aug 22, 2025 |
| Scotiabank | Tanya Jakusconek | $18 | $16.84 | -52.1% | Aug 19, 2024 |
| BMO Capital | Raj Ray | $14 | $15.16 | -62.8% | Jun 26, 2024 |
| Scotiabank | Tanya Jakusconek | $17 | $13.28 | -54.8% | Jun 14, 2024 |
| BMO Capital | Andrew Kaip | $13.5 | $13.88 | -64.1% | Jun 13, 2024 |
Track every rating change on GFI the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationGold Fields Limited is a prominent global gold mining enterprise, holding significant reserves and resources across diverse regions including Chile, South Africa, Ghana, West Africa, Australia, and Peru. Beyond its primary focus on gold, the company also engages in the exploration of copper deposits. It manages a portfolio of nine operational mines, collectively producing an estimated 2.34 million gold-equivalent ounces each year. The firm's substantial gold holdings include approximately 48.6 million ounces in mineral reserves and an impressive 111.8 million ounces in mineral resources. Established in 1887, Gold Fields Limited is headquartered in Sandton, South Africa.
Historical context
All GFI earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| AA Alcoa Corporation | FY2026 Q3 · Calendar Q4 2026 | +20.5% | +7.2% | Alcoa: Strong Q3 execution, with safety and transaction risks ahead |
Latest beats and misses
Who reports nextBeat on EPS
Get the GFI recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-11T06:39:45.180704+00:00
- Polygon adjusted daily market bars · 2026-10-17T21:00:44.570987+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-17T21:00:44.568197+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-17. For educational purposes only; not investment advice.