Gold Fields (GFI) closed at $51.30 in the latest trading session, marking a -3.01% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 1.16% for the day. On the other hand, the Dow registered a gain of 1.21%, and the technology-centric Nasdaq increased by 1.18%.
The stock of gold miner has risen by 14.56% in the past month, leading the Basic Materials sector's gain of 8.74% and the S&P 500's loss of 0.42%.
The investment community will be closely monitoring the performance of Gold Fields in its forthcoming earnings report.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.73 per share and a revenue of $11.19 billion, representing changes of +258.33% and +115.13%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Gold Fields. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Gold Fields is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Gold Fields is currently exchanging hands at a Forward P/E ratio of 11.18. This denotes a discount relative to the industry average Forward P/E of 13.66.
One should further note that GFI currently holds a PEG ratio of 0.22. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Mining - Gold industry had an average PEG ratio of 0.44 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 44, finds itself in the top 18% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Gold Fields Limited (GFI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
