GFI Stock Recent News
GFI LATEST HEADLINES
Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties.
Gold Fields Limited (ADR) (NYSE:GFI) has announced its acquisition of Osisko Mining (TSX:OR.WT) in a substantial $2.16 billion (US$1.6 billion) deal, underscoring its strategy to expand amid surging gold prices. The South African mining giant will acquire Osisko's Windfall gold project, paying $4.90 per share—a 66.7% premium over Osisko's closing price last Friday, as reported by Bloomberg.
Gold Fields Ltd has agreed to acquire Osisko Mining for C$2.16 billion ($1.57 billion), it said on Monday, barely two years after an attempt to buy another Canadian miner was scuppered by a rival offer.
Still, there's a long way to go as the country tries to end corruption, dysfunction, and high unemployment with a coalition government. Bond yields are down and stocks are up.
As the price of gold hits new record highs investors may consider buying these top ranked mining stocks.
The precious metals ecosystem has been quietly rising to blistering highs. The push for investors to seek safe havens amid broader stability concerns has driven gold prices to record highs.
The Zacks Mining - Gold industry's near-term prospects are bright, as gold prices are expected to gain. One can watch stocks like AEM, GFI, AU and HMY, backed by their growth prospects.
FSUGY, FHN and GFI made it to the Zacks Rank #1 (Strong Buy) income stocks list on April 22, 2024.
Gold mining companies have participated in the rally, with the VanEck Vectors Gold Miners ETF outperforming the spot gold ETF. Gold Fields Limited is a gold producer with reserves in multiple countries. Its earnings and valuation forecasts suggest it is undervalued despite a recent guidance cut. GFI's technical situation is mixed, with the stock at key resistance levels, but strong momentum could lead to a breakout.
Gold Fields (GFI) closes its previously announced sale of the Asanko gold mine to JV partner Galiano for cash and share consideration.