7 Best Emerging Markets Stocks To Buy Now

4. Gold Fields Limited (NYSE:GFI)  

Number of Hedge Fund Holders: 22

Country: South Africa

Gold Fields Limited (NYSE:GFI) is a global gold-producing company that operates approximately nine mines spread across Australia, Canada, South Africa, Ghana, Chile, and Peru. The company is also involved in copper and silver and other related activities, including exploration, extraction, processing, and smelting. The company’s Windfall Project in Canada is recognized as one of the largest gold deposits in Canada and among the top 10 globally due to its high-grade gold content.

Gold Fields Limited (NYSE:GFI) is actively expanding its portfolio through strategic acquisitions to drive long-term growth. On October 28, the company announced the completion of its acquisition of Osisko Mining, a Canadian company focused exploration, and development of gold, silver, and diamond mines. The deal, valued at $1.57 billion in an all-cash transaction, will give Gold Fields Limited (NYSE:GFI) full control of the Windfall project in Quebec, Canada.

Despite the substantial investment, Gold Fields Limited (NYSE:GFI) has maintained a strong financial position and preserved its investment-grade credit rating. The company expects its financial position to strengthen further, driven by robust cash flow growth anticipated for the remainder of 2024 and into 2025 as production ramps up across several key operations.

Gold Fields CEO Mike Fraser highlighted the significance of the acquisition, emphasizing the exceptional quality and scale of the Windfall deposit. He described the transaction as a pivotal step in the company’s strategy to enhance the quality of its portfolio and secure long-term growth opportunities.