Analyst Consensus ?
ConsensusHold17 ratings
Bullish847.1%
Neutral952.9%
Bearish00.0%
Gold Fields Limited · GFI · FY2026 Q2 · Calendar Q3 2026
Gold Fields: Strong H1 cash flow, with permitting and royalty risks
Gold Fields' H1 2026 results support a constructive operating picture: production and free cash flow strengthened, while a low-leverage balance sheet and a maintained guidance outlook provide support. The counterweight is execution and jurisdictional risk around Windfall, Tarkwa and costs.
Reported Session unavailableNYSEBasic Materials
$38.03B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.10
Consensus $2.36
EPS surprise
-11.0%
Reported versus consensus
Reported revenue
$5.99B
Consensus $5.84B
Revenue surprise
+2.5%
Reported versus consensus
Market reaction
close-to-close (session unavailable)
Stock move
+3.3%
Event window
SPY move
+0.3%
Same window
Abnormal move
+2.9%
Stock minus SPY
Volume
1.0×
Versus trailing sessions
Subsequent drift
-13.0%
Up to 20 sessions
GFISPY benchmark
Ask FN2 about GFI FY2026 Q2
Transcript, numbers and history already loaded
Why did GFI rise 3.3% after missing EPS estimates in FY2026 Q2?What changed in GFI's guidance and outlook in FY2026 Q2?Give me the bull and bear case for GFI after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The supplied analysis describes a 12% year-on-year production increase, more than doubled adjusted free cash flow, a 132% higher interim dividend, $300 million of buybacks and a $500 million top-up to the shareholder return program. Windfall permitting delays could push first production to 2029.
Guidance delta
Management maintained its guidance outlook; no change was supplied in the transcript analysis.
Key takeaways
- Production rose 12% year on year, led by Salares Norte.
- Free cash flow more than doubled, supporting a higher interim dividend and buybacks.
- Windfall, St. Ives and exploration form the main growth pipeline.
- Net debt and leverage remained low in the supplied analysis.
- Costs, permitting and Ghana lease and royalty issues remain key watchpoints.
Management priorities
- Maintain safety performance and target zero incidents.
- Hold Salares Norte at name-plate production and improve costs.
- Advance Windfall permitting, engineering and execution readiness.
- Complete Tarkwa lease renewal negotiations.
- Continue St. Ives material-handling work and exploration drilling.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$42.51Previous close
$13.5Low
$35.09Average
$57.25High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 21, 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 previous close $42.51. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Scotiabank | Analyst unavailable | $52 | $33.13 | +22.3% | Jul 14, 2026 |
| RBC Capital | Analyst unavailable | $49 | $33.8 | +15.3% | Jul 9, 2026 |
| Canaccord Genuity | Analyst unavailable | $57.25 | $43.96 | +34.7% | Apr 24, 2026 |
| Scotiabank | Analyst unavailable | $61 | $57.59 | +43.5% | Jan 26, 2026 |
| RBC Capital | Josh Wolfson | $45 | $39.15 | +5.9% | Nov 24, 2025 |
| Scotiabank | Analyst unavailable | $47 | $40.9 | +10.6% | Oct 23, 2025 |
| Canaccord Genuity | Analyst unavailable | $39 | $41 | -8.3% | Oct 13, 2025 |
| Capital One Financial | Analyst unavailable | $32 | $31.12 | -24.7% | Aug 22, 2025 |
| Scotiabank | Tanya Jakusconek | $18 | $16.84 | -57.7% | Aug 19, 2024 |
| BMO Capital | Raj Ray | $14 | $15.16 | -67.1% | Jun 26, 2024 |
| Scotiabank | Tanya Jakusconek | $17 | $13.28 | -60.0% | Jun 14, 2024 |
| BMO Capital | Andrew Kaip | $13.5 | $13.88 | -68.2% | Jun 13, 2024 |
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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.
Basic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| HMY Harmony Gold Mining Company Limited | FY2026 Q4 · Calendar Q3 2026 | 0.0% | -6.2% | Harmony Gold posts record FY2026 while Eva Copper risks remain |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
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 · 2026-08-25T22:20:14.519913+00:00
- FN2 earnings calendar · 2026-09-21T01:23:13.071796+00:00
- Polygon adjusted daily market bars · 2026-09-21T08:40:47.431303+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T08:40:47.428572+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 . For educational purposes only; not investment advice.