10 Cheap Gold Stocks to Invest In Right Now

7. Gold Fields Limited (NYSE:GFI)

Forward P/E: 13.64

Number of Hedge Fund Holders: 24

Gold Fields Limited (NYSE:GFI) is a globally diversified gold producer with nine operating mines in South Africa, Australia, Chile, Ghana, Peru, and Canada. It engages in underground and surface gold and copper mining. The company is also involved in the exploration, extraction, smelting, and processing of silver. According to CNBC, Gold Fields Limited (NYSE:GFI) has a total attributable annual gold-equivalent production of over 2.30 million ounces (Moz), gold mineral reserves of 44.6 Moz, and gold mineral resources of 30.3 Moz, excluding mineral resources.

Fiscal Q4 2024 was a strong quarter for the company, with attributable equivalent gold production reaching 644koz and reflecting a 26% quarter-over-quarter increase. This strong performance has continued into 2025, with all assets tracking well against their operating plans in January 2025. Strong financial performance and improved operational delivery in H2 2024 allowed Gold Fields Limited (NYSE:GFI) to declare a final dividend of 700 SA cents per share, 67% higher than last year.

On December 2, Gold Fields Limited (NYSE:GFI) entered into a final Implementation Agreement with Torq Resources Inc. for the Santa Cecilia Project. As per the agreement, GFI will invest $48 million to acquire up to 75% of the project’s indirect stake. In a report released on March 3, Josh Wolfson from RBC Capital maintained a Buy rating on the company with a price target of $22.00.