This company posted solid earnings and looks to be breaking out of a double top high. Gold Fields Ltd. (NYSE: GFI) operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, West Africa, Australia and Peru.
The company also explores for copper deposits. It holds interests in nine operating mines with an annual gold-equivalent production of approximately 2.24 million ounces, as well as gold mineral reserves of approximately 52.1 million ounces and mineral resources of approximately 116.0 million ounces. Gold Fields was founded in 1887 and is based in Sandton, South Africa.
Investors receive a 2.45% dividend. BMO Capital Markets has set a $15 target price. The consensus target for Gold Fields stock is $12.22, and Tuesday’s final trade at $11.79 was down almost 4% for the day.
Investors who are more aggressive may want to consider this smaller cap mining company. Kinross Gold Corp. (NYSE: KGC) engages in the acquisition, exploration and development of gold properties principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana and Mauritania.
The company also is involved in the extraction and processing of gold-containing ores, reclamation of gold-mining properties and the production and sale of silver. The company posted quarterly earnings that were much lower than a year ago but topped the consensus estimates, offering an earnings surprise of 40%.
Shareholders receive a 2.10% dividend. The BofA Securities price target for Kinross Gold stock of $8.85 is less than the $9.75 consensus target but well above Tuesday’s closing price of $5.72.
This is one of the largest mining companies and a solid buy for more conservative investors. Newmont Corp. (NYSE: NEM) is engaged in the production of gold.
Its North America segment consists primarily of Carlin, Phoenix, Twin Creeks and Long Canyon in Nevada and Cripple Creek and Victor in Colorado. The South America segment consists primarily of Yanacocha in Peru and Merian in Suriname. The Australia segment consists primarily of Boddington, Tanami and Kalgoorlie in Australia. The Africa segment consists primarily of Ahafo and Akyem in Ghana.
Shareholders receive a 3.48% dividend. The Newmont stock price target at BofA Securities is $70. The consensus target is all the way up at $98.08, but shares closed on Tuesday at $63.28.
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