6 Most Profitable Gold Stocks To Buy Now

4. Gold Fields Limited (NYSE:GFI)

Number of Hedge Fund Investors: 22

5-Year Net Income CAGR: 48.15%

TTM Net Income: $634.5 Million

Gold Fields Limited (NYSE:GFI) is a leading global gold mining company with a diverse portfolio of assets spread across multiple locations, including South Africa, South America (Chile and Peru), Ghana, Australia, and Canada. Gold Fields Limited (NYSE:GFI) has a world-class asset base underpinned by over 20 years of reserves.

Gold Fields Limited (NYSE:GFI) is actively addressing the operational challenges that impacted its performance in the first half of 2024. These setbacks were primarily due to issues at the South Deep mine in South Africa and the Gruyere mine in Australia, as well as the delayed ramp-up of the Salares Norte project in Chile. In Q3, Gold Fields Limited (NYSE:GFI) produced 510,000 ounces of gold, up from 454,000 ounces in Q2 but down from 542,000 ounces in the same quarter last year. The all-in-sustaining costs (AISC) for the quarter were $1,694 per ounce, compared to $1,751 per ounce in Q2 and $1,381 per ounce in the same quarter last year. The company reiterated its guidance for full-year gold production at the lower end of the 2.05 million to 2.15 million ounces range, with an AISC of $1,580 to $1,670 per ounce.

On November 6, Reuters reported that Mike Fraser, CEO of Gold Fields Limited (NYSE:GFI) indicated that the company may seek buyers for its smaller mines in Ghana and Peru to focus on larger operations. Fraser mentioned that the company is shifting its focus to advancing its new Salares Norte mine in Chile, along with projects from the recently acquired Osisko Mining.