Gold Fields ( NYSE: GFI ) +3.8% in Thursday's trading after saying it expects H1 profit to rise by as much as one third , driven by higher gold prices and production despite higher costs.
Gold Fields ( GFI ) said it sees headline earnings per share - the main profit measure used in South Africa - for the six months to June 30 in the $0.56-$0.60 range, up from $0.45/share a year earlier.
Normalized EPS is expected in the $0.54-$0.58/share rising, up from $0.49 in the year-ago quarter.
The miner expects gold production to rise 9% to 1.2M oz, but also forecasts a 5% rise in all-in sustaining costs to $1,148/oz, citing higher operating costs driven by inflation as well as increased capital spending at the Salares Notre project.
In May, Gold Fields ( GFI ) announced its all-stock deal to buy Yamana Gold, valuing the Canadian company at $6.7B .
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Gold Fields forecasts H1 profit boost on higher production, gold price