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GFI

Gold Fields

$2.98

-0.38 (-11.33%)

11:47
08/14/18
08/14
11:47
08/14/18
11:47

Gold Fields drops almost 12% after announcing South Deep restructuring

Gold Fields announces a restructuring at its South Deep operation and provides a further trading statement relating to its H1 2018 results, due for release on Thursday, 16 August. South Deep has had a number of operational challenges since Gold Fields acquired it in 2006. The key challenge has been the difficulty in transitioning the mine from one run with a conventional mining mindset and practices to mining with a modern, bulk, mechanized mining approach. South Deep is a complex and unique mine, that has faced persistent issues that need to be addressed in a holistic manner which include:Rising operating and overhead costs, which are not aligned with the profile of a high-volume, medium-grade operation or with current output levels; Consistent failure to meet mining and production targets; Unique and complex mining method, long hole stoping mining at 3,000m with attendant challenging geotechnical and ground conditions requiring extensive support. shares of Gold Fields are down 11.6% to $2.97 per share in late morning trading.

GFI Gold Fields
$2.98

-0.38 (-11.33%)

04/11/18
DBAB
04/11/18
DOWNGRADE
DBAB
Sell
Harmony Gold downgraded to Sell from Hold at Deutsche Bank
Deutsche Bank analyst Patrick Mann downgraded Harmony Gold (HMY) to Sell citing the recent rally in the shares. He lowered his price target for the shares to R18ps from R21ps. The analyst believes the mostly debt funded acquisition of Moab Khotsong and a 7% lower Rand-Gold price compared to 12 months ago creates downside risk for the shares. Mann is neutral on the sector but continues to favor "geographically diversified" producers AngloGold (AU) and Gold Fields (GFI).
04/13/18
BOFA
04/13/18
UPGRADE
BOFA
Buy
Gold Fields upgraded to Buy from Underperform at BofA/Merrill
04/13/18
04/13/18
UPGRADE
Target $4.98

Buy
Gold Fields upgraded to Buy on capital allocation at BofA/Merrill
As previously reported, BofA/Merrill analyst Cedar Ekblom upgraded Gold Fields two notches to Buy from Underperform with a $4.98 price target. Ekblom believes management is demonstrating a more prudent and successful approach to capital allocation and expects solid free-cash-flow redeployment that will be used to lower costs and add ounces.
04/26/18
MACQ
04/26/18
DOWNGRADE
MACQ
Neutral
Gold Fields downgraded to Neutral from Outperform at Macquarie

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AVYA

Avaya

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0.305 (1.75%)

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TME

Tencent Music

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AVYA

Avaya

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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TPR

Tapestry

$36.28

1.31 (3.75%)

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ACN

Accenture

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1.86 (1.17%)

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JCOM

j2 Global

$71.15

1.89 (2.73%)

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PKD

Parker Drilling

$1.12

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VZ

Verizon

$57.52

-1.33 (-2.26%)

, BAC

Bank of America

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ROKU

Roku

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CORT

Corcept Therapeutics

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1.56 (9.09%)

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EFA

iShares MSCI EAFE Index Fund

$61.52

1.04 (1.72%)

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Million dollar straddle purchase in iShares EAFE International ETF »

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BHC

Bausch Health

$24.99

1.9 (8.23%)

, SGYP

Synergy Pharmaceuticals

$0.10

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Synergy Pharmaceuticals

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AGN

Allergan

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AVYA

Avaya

$17.70

0.225 (1.29%)

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ZAYO

Zayo Group

$25.42

0.185 (0.73%)

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TME

Tencent Music

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MS

Morgan Stanley

$41.30

0.68 (1.67%)

, BAC

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$24.67

0.09 (0.37%)

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KEY

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CMA

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CFG

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MTB

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STI

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ZION

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AVEO

Aveo Pharmaceuticals

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AVEO

Aveo Pharmaceuticals

$2.01

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AZN

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APD

Air Products

$156.93

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SBUX

Starbucks

$66.46

0.56 (0.85%)

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Aggressive call buying in Starbucks weekly options ahead of a company event »

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MNK

Mallinckrodt

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, ENDP

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FOMX

Foamix

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