Gold miner Gold Fields (GFI.US) announced that its profits last year may have nearly doubled due to the record-breaking rise in gold prices.
On Friday, Gold Fields projected its 2025 earnings per share to be between $3.87 and $4.11, representing a 178% to 196% increase from the previous year.
The company said this growth “reflects the significant rise in gold prices” and “an increase in gold sales.”
Last year, driven by geopolitical turmoil, investors flocked to safe-haven assets, causing gold prices to surge nearly 65%. Gold prices continued to climb this year, reaching a near-record high of around $5,600 on January 29, before retreating some of the gains.
Gold Fields, which mines gold in Australia, Chile, Ghana, Peru, and South Africa, reported a total production of 2.4 million ounces last year, an 18% increase from 2024. The company is expected to release its full annual report later this month.
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Gold miner GFI.US announces a profit surprise, with 2025 profits expected to increase by nearly 2 times
Gold miner Gold Fields (GFI.US) announced that its profits last year may have nearly doubled due to the record-breaking rise in gold prices.
On Friday, Gold Fields projected its 2025 earnings per share to be between $3.87 and $4.11, representing a 178% to 196% increase from the previous year.
The company said this growth “reflects the significant rise in gold prices” and “an increase in gold sales.”
Last year, driven by geopolitical turmoil, investors flocked to safe-haven assets, causing gold prices to surge nearly 65%. Gold prices continued to climb this year, reaching a near-record high of around $5,600 on January 29, before retreating some of the gains.
Gold Fields, which mines gold in Australia, Chile, Ghana, Peru, and South Africa, reported a total production of 2.4 million ounces last year, an 18% increase from 2024. The company is expected to release its full annual report later this month.