Gold Fields Limited (GFI - Snapshot Report) has announced its production and cost guidance for the second quarter of 2015. The company expects the second quarter to be better than the previous one.
Gold Fields estimates attributable gold production in the second quarter to be about 535,000 ounces (oz) compared with 501,000 oz in the first quarter. All-in Sustaining Costs (AISC) are projected to be $1,030/oz in the quarter compared with $1,143/oz in the prior quarter. All-in Costs (AIC) are expected to be $1,060/oz compared with $1,164/oz in the first quarter.
The company reiterated its 2015 guidance for attributable gold equivalent production of roughly 2.2 million oz at AISC of $1,055/oz and AIC of $1,075/oz. Gold Fields will release its second-quarter results on Aug 20, 2015.
The company’s shares rose as much as around 6.5% in the trading session following the news release on Monday. The stock closed the day at $3.12, gaining roughly 1.6%.
Gold Fields, an unhedged gold producer with eight operating mines across Australia, Ghana, Peru and South Africa, is committed toward driving margins and cash flows, while cutting debt. The company has attributable mineral reserves of around 48 million ounces and mineral resources of around 108 million ounces. It also has 620 million pounds of attributable copper mineral reserves and 6,873 million pounds of mineral resources.
Gold Fields currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the mining space include Sandstorm Gold Ltd. (SAND -Snapshot Report), Primero Mining Corp. (PPP - Snapshot Report) and Vista Gold Corp. (VGZ - Snapshot Report). All of these stocks carry a Zacks Rank #2 (Buy)
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