GOLD FIELDS LTD (GFI) Form 6-K — Aug 11, 2026
Gold Fields' H1 2026 trading statement guides headline EPS of US$1.98 to US$2.18, 72% to 90% above the US$1.15 reported in H1 2025, with basic EPS in a nearly identical range. The earnings jump is driven by higher gold-equivalent ounces sold and a higher realized gold price, partially offset by higher cost of sales. Operationally, H1 attributable production of 1,260koz is up 12% year-on-year, but all-in sustaining costs rose 13% to US$1,900/oz. Salares Norte is outperforming and on track to beat full-year guidance, while Gruyere and Tarkwa are both flagged as at risk of missing their 2026 targets.
Key figures
- Eps
- US$1.97-US$2.17 expected H1 2026 basic EPS vs US$1.15 in H1 2025 (+71% to +89%)
- H1 Aic
- US$2,120/oz, +8% YoY (H1 2025: US$1,957/oz)
- Q2 Aic
- US$2,200/oz (Q1 2026: US$2,046/oz)
- H1 Aisc
- US$1,900/oz, +13% YoY (H1 2025: US$1,682/oz)
- Q2 Aisc
- US$1,960/oz (Q1 2026: US$1,829/oz)
- H1 Production
- 1,260koz attributable gold-equivalent, +12% YoY (H1 2025: 1,136koz)
- Heps Expected
- US$1.98-US$2.18 per share, +72% to +90% vs H1 2025 HEPS of US$1.15
- Q2 Production
- 630koz (Q1 2026: 633koz)
- Capex Guidance
- US$1,600m-US$1,800m (prior: US$1,900m-US$2,100m)
- Mineral Reserves
- 48.3Moz proved and probable
- Fy2026 Aic Guidance
- US$2,075-US$2,300/oz, expected towards lower end
- Fy2026 Aisc Guidance
- US$1,800-US$2,000/oz
- Adjusted Free Cash Flow
- US$2,385m-US$2,636m, +91% to +111% vs H1 2025 of US$1,251m
- Windfall Project Capital
- US$1.7bn-US$1.9bn (real 2025 terms), now expected at upper end
- Sustaining Capex Guidance
- US$1,300m-US$1,400m (unchanged)
- Fy2026 Production Guidance
- 2.4Moz-2.6Moz, now expected at upper end
- Fy2025 Attributable Production
- 2.44Moz
AI analysis
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