Gold Fields Sees Higher Earnings In 2016 - Quick Facts

(RTTNews) - Gold Fields Limited (GFI) announced that it expects earnings per share for the twelve months ended 31 December 2016 to be between 160% and 170% ($0.49 to$0.52) higher than last year, at a range of between $0.18 and $0.21.

The company estimates full year Headline earnings per share or HEPS at a range between $0.25 and $0.27, higher than prior year.

In addition, the company expects full year normalised earnings per share of between $0.23 and $0.25.

The company specified that the increases in EPS, HEPS and normalised earnings are primarily driven by an increase in the US$ gold price (8% YoY) and lower net operating costs in local currencies as well as the impact of converting these costs at weaker exchange rates. In addition, EPS is impacted by lower non-recurring items. In FY 2016, the A$ was 1% weaker YoY and the rand was 13% weaker YoY, against the US$.

For 2016, the company sees attributable gold equivalent production to be 2,146koz, with all-in sustaining costs of US$980/oz and all-in costs of $1,006/oz .

The company also estimates fourth quarter attributable gold equivalent production to be 566koz, with AISC of US$911/oz and AIC of $941/oz.