Why did Vectorial Data pick GFI?

GFI at $33.60 is buying gold that also pays you rent, right when gold is at record highs and its new mines are dirt-cheap to run. Specific reasons: (1) The margin is huge: it digs at ~$1,645 an ounce and sells above $4,000 — keeping ~$2,400 per ounce, and it produces 2.44 million ounces a year. (2) Earnings are exploding: free cash flow rose +391% in 2025; that's why it trades at ~23x what it earned last year but only ~10x what it's expected to earn next year. (3) Salares Norte, the cheap mine: it pulls gold out at ~$450-600 an ounce — one of the cheapest in the world — and already generated $808 million; it's almost pure profit as long as gold stays expensive. (4) Geographic spread: mines in six countries, so a problem in one doesn't sink it. (5) It pays you ~3.15% dividend: unlike gold bars (which you just store), here you collect rent while you wait. (6) Gold as a safe haven: with global uncertainty, central banks buying gold and borrowing costs falling, the wind is at its back. Analysts: Buy, target ~$58 (+74%).

What are the risks of investing in GFI?

Risks: (1) The price of gold — #1: the whole thesis depends on gold staying expensive; if it falls, the margin compresses fast and the stock hurts more than the metal. (2) Country / mining risk: it operates in South Africa, Ghana and Peru — places with risk of power cuts, labor disputes, royalty changes or political instability. (3) Execution risk: a new mine like Salares Norte can hit operational snags, extreme weather (it's in the Atacama desert, at high altitude) or cost overruns. (4) Rising costs: if energy, diesel or labor go up, the ~$1,645 AISC rises and the margin shrinks. (5) Currency: a big chunk of its costs are in South African rand, Australian dollars and other currencies — FX swings move its numbers. (6) It's cyclical and volatile: gold miners amplify the metal's moves in both directions — not a stock for weak stomachs.

Does GFI pay dividends?

Yes. Gold Fields Limited pays a dividend of about 5.09% per year.

How can I buy GFI with little money?

You can buy fractional shares of GFI starting from a few dollars with any broker that offers fractional shares. The Vectorial Data method: invest the same amount in every pick, every time.

When was this GFI analysis last updated?

The GFI analysis was last updated on Invalid Date.

Stocks/GFI

GFI — Gold Fields Limited

Q: What does Gold Fields Limited do?

Gold Fields Limited (NYSE: GFI) is one of the largest gold miners in the world, headquartered in Johannesburg, South Africa, with mines running in South Africa, Australia, Ghana, Peru, Chile and Canada. How it makes money: about as simple as it gets. It pulls gold out of the ground at a cost (AISC) of ~$1,645 per ounce and sells it at the market price — today above $4,000 an ounce. The difference is its profit. When gold goes up and costs stay flat, every ounce is worth a lot more. 2025 production: 2.44 million ounces (+18%), with free cash flow rocketing +391%. The new jewel — Salares Norte (Chile): a freshly-started mine that pulls gold out at just ~$450-600 an ounce — one of the cheapest on the planet — and that on its own generated $808 million in cash. It also adds Windfall (Canada) through its partner Osisko. Leadership: CEO Mike Fraser. HQ Johannesburg, South Africa.

MaterialsAfricaSouth AfricaBlockchain certified

$47.72

Target: $55.00 (+15%)

P/E Ratio

12.1

P/E Forward

8.5

Dividend

5.09%

Market Cap

$42.7B

EPS

$3.99

Consensus

Buy

What they do

Gold Fields Limited (NYSE: GFI) is one of the largest gold miners in the world, headquartered in Johannesburg, South Africa, with mines running in South Africa, Australia, Ghana, Peru, Chile and Canada.

How it makes money: about as simple as it gets. It pulls gold out of the ground at a cost (AISC) of ~$1,645 per ounce and sells it at the market price — today above $4,000 an ounce. The difference is its profit. When gold goes up and costs stay flat, every ounce is worth a lot more.

2025 production: 2.44 million ounces (+18%), with free cash flow rocketing +391%.

The new jewel — Salares Norte (Chile): a freshly-started mine that pulls gold out at just ~$450-600 an ounce — one of the cheapest on the planet — and that on its own generated $808 million in cash. It also adds Windfall (Canada) through its partner Osisko.

Leadership: CEO Mike Fraser. HQ Johannesburg, South Africa.

Why we like it

GFI at $33.60 is buying gold that also pays you rent, right when gold is at record highs and its new mines are dirt-cheap to run. Specific reasons:

The margin is huge: it digs at ~$1,645 an ounce and sells above $4,000 — keeping ~$2,400 per ounce, and it produces 2.44 million ounces a year.
Earnings are exploding: free cash flow rose +391% in 2025; that's why it trades at ~23x what it earned last year but only ~10x what it's expected to earn next year.
Salares Norte, the cheap mine: it pulls gold out at ~$450-600 an ounce — one of the cheapest in the world — and already generated $808 million; it's almost pure profit as long as gold stays expensive.
Geographic spread: mines in six countries, so a problem in one doesn't sink it.
It pays you ~3.15% dividend: unlike gold bars (which you just store), here you collect rent while you wait.
Gold as a safe haven: with global uncertainty, central banks buying gold and borrowing costs falling, the wind is at its back. Analysts: Buy, target ~$58 (+74%).

Key Risk

Risks:

The price of gold — #1: the whole thesis depends on gold staying expensive; if it falls, the margin compresses fast and the stock hurts more than the metal.
Country / mining risk: it operates in South Africa, Ghana and Peru — places with risk of power cuts, labor disputes, royalty changes or political instability.
Execution risk: a new mine like Salares Norte can hit operational snags, extreme weather (it's in the Atacama desert, at high altitude) or cost overruns.
Rising costs: if energy, diesel or labor go up, the ~$1,645 AISC rises and the margin shrinks.
Currency: a big chunk of its costs are in South African rand, Australian dollars and other currencies — FX swings move its numbers.
It's cyclical and volatile: gold miners amplify the metal's moves in both directions — not a stock for weak stomachs.

This is educational and informational content, not financial advice. Always consult a qualified financial advisor before making investment decisions.

Vectorial Data picked GFI on 2026-03-16 at $47.72.

Last updated: Invalid Date

Dividends received by the Vectorial portfolio

GFI has not paid a dividend to the portfolio yet.

Full Research

Gold Fields Limited (GFI) — Research Completo

Precio: $47.72 | P/E: 12.1 | P/E Forward: 8.5 | Div Yield: 5.1% | Market Cap: $42.7B

¿Qué es Gold Fields?

Gold Fields es una de las mineras de oro más grandes del mundo, con sede en Johannesburgo, Sudáfrica. Extraen oro de minas subterráneas y a cielo abierto en 5 países. Es simple: sacan oro de la tierra, lo refinan, y lo venden al precio de mercado.

Minas y Operaciones

Mina	País	Tipo	Producción aprox
South Deep	Sudáfrica	Subterránea (3.2km profundidad)	~280-305K oz/año
Tarkwa	Ghana	Cielo abierto	~500K oz/año
Damang	Ghana	Cielo abierto	~150K oz/año
St Ives	Australia	Mixta	~400K oz/año
Granny Smith	Australia	Subterránea	~300K oz/año
Agnew	Australia	Subterránea	~200K oz/año
Cerro Corona	Perú	Cielo abierto (oro + cobre)	~150K oz/año
Salares Norte	Chile	Cielo abierto (nueva)	Ramp-up en 2025
Windfall	Canadá (Quebec)	Subterránea (en construcción)	~300K oz/año (desde 2027)

Producción total 2025: 2.44 millones de onzas (+18% YoY)

AISC (costo todo incluido): $1,645/oz

Resultados 2025 — Récord Histórico

Métrica	2024	2025	Cambio
Profit	$1.25B	$3.57B	+186%
EPS	~$1.40	$3.99	+185%
Free Cash Flow	$605M	$2.97B	+391%
Producción	2.07M oz	2.44M oz	+18%
AISC	$1,629/oz	$1,645/oz	+1%

Capital Return — $1.7 Mil Millones al Accionista

Gold Fields anunció un programa de retorno de capital masivo:

Dividendo final: 1,850 SA centavos/acción
Dividendo especial: 450 SA centavos/acción
Recompra de acciones: $100M
Total: $1.7B (54% del free cash flow ajustado)

El Catalizador: Oro en Máximos Históricos

El precio del oro está en niveles récord por múltiples factores:

Bancos centrales comprando récord — 585 toneladas/trimestre en 2026
Incertidumbre geopolítica — guerras, tensiones comerciales, deuda de EE.UU.
Inflación persistente — el oro es la cobertura clásica contra inflación
JP Morgan proyecta $5,055/oz para Q4 2026 (actualmente ~$2,900-3,000/oz)

Proyecto Windfall (Canadá) — El Futuro

Gold Fields compró Osisko Mining en 2024 por C$1.93B, obteniendo 100% del proyecto Windfall en Quebec:

Reservas: 3.2M oz a 8.1 g/t (grado altísimo — top 10 global)
Producción esperada: ~300K oz/año
AISC esperado: $758/oz (menos de la mitad del promedio de la empresa)
Inicio: Finales de 2026 / inicio 2027
Alimentado por hidroelectricidad — huella de carbono baja

¿Por Qué Nos Gusta?

Profit se triplicó — de $1.25B a $3.57B. Free cash flow 5x mayor
Dividendo del 5.1% + dividendo especial + recompras = $1.7B devueltos
P/E de 12x, forward de 8.5x — baratísima para lo que genera
Oro en máximos — bancos centrales comprando récord, JP Morgan ve $5,055/oz
Diversificación geográfica — 5 países, no depende de un solo lugar
Windfall — nueva mina en Canadá de bajo costo va a aumentar producción y bajar AISC
Cobertura contra inflación — el oro sube cuando todo lo demás baja

Riesgos

Dependencia del precio del oro — si el oro cae, Gold Fields cae más fuerte (apalancamiento operativo)
Sudáfrica — problemas de electricidad (loadshedding), regulación minera, inestabilidad política
Ghana — riesgo geopolítico, regulación cambiante
Volatilidad extrema — rango 52 semanas de $19.21 a $61.64. No es para cardíacos
Costos de minería suben — energía, mano de obra, equipos. AISC puede aumentar
Windfall capex alto — C$1.7-1.9B de inversión, riesgo de sobrecostos
Dividendo variable — depende del precio del oro y del cash flow, no es fijo

Research fecha: 16 Mar 2026 | Próxima revisión: Sep 2026

Esto no es asesoría financiera.

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Researched: 3/16/2026Updated: 3/16/2026Next review: 9/16/2026

This is not financial advice. Consult a certified financial advisor.

The author may hold positions in the securities discussed.

Past performance does not guarantee future results.