Gold Fields Future Growth
Future criteria checks 2/6
Gold Fields is forecast to grow earnings and revenue by 6.6% and 12.4% per annum respectively. EPS is expected to grow by 7.6% per annum. Return on equity is forecast to be 28% in 3 years.
Key information
6.6%
Earnings growth rate
7.56%
EPS growth rate
| Metals and Mining earnings growth | 18.5% |
| Revenue growth rate | 12.4% |
| Future return on equity | 28.03% |
| Analyst coverage | Good |
| Last updated | 06 May 2026 |
Recent future growth updates
Recent updates
GFI: Higher Gold Price Assumptions And Dividend Payouts Will Support Re Rating
Gold Fields' analyst fair value estimate has shifted from ZAR1,100.00 to ZAR1,263.00 as analysts factor in updated gold price assumptions, changes in long term growth and profitability forecasts, and refreshed P/E expectations reflected in recent research updates. Analyst Commentary Recent research points to a constructive tone around Gold Fields, with several bullish analysts revisiting their assumptions on gold prices, long term profitability, and valuation multiples.
GFI: Rich Payouts And Higher Costs Will Pressure Future Returns
Analysts have lifted the fair value estimate for Gold Fields to ZAR700 from ZAR680, reflecting updated views on revenue growth, profit margins and an adjusted future P/E multiple, informed by recent changes to Street price targets and ratings. Analyst Commentary Recent Street commentary on Gold Fields has been mixed, with several research houses updating price targets and ratings in quick succession.Additional Considerations Required While Assessing Gold Fields' (JSE:GFI) Strong Earnings
Apr 07
GFI: Elevated Dividend Commitments Will Heighten Execution And Cost Risks
Analysts have lifted the price target for Gold Fields to ZAR 680, supported by updated views on the company’s risk profile, revenue outlook, margins and forward P/E assumptions, even as recent research includes both upward target revisions and a downgrade. Analyst Commentary Recent research on Gold Fields includes a higher price target of $80 from JPMorgan, alongside other updated targets and a downgrade from another major firm.GFI: Mixed Rating Shifts And Dividend Plans Will Shape Execution Risks
Analysts have raised their ZAR price target for Gold Fields by ZAR15, reflecting updated expectations around margins and valuation metrics, while also acknowledging mixed recent research views on the stock. Analyst Commentary Recent research shows a split view on Gold Fields, with some large banks becoming more constructive on the share price while others flag risks around execution and valuation.GFI: Execution And Cost Risks Will Likely Restrain Elevated Expectations
The analyst fair value estimate for Gold Fields has been adjusted from ZAR630.00 to ZAR680.00, with analysts pointing to higher price targets from recent Street research and updated expectations for margins and risk as key drivers of the change. Analyst Commentary Recent Street research around Gold Fields has been mixed, with some higher price targets being balanced by more cautious views on execution and valuation risk.GFI: Higher Gold Price Outlook And Capital Returns Will Support Re Rating
Analysts have raised their ZAR price target for Gold Fields by ZAR14, citing refined assumptions on discount rates, revenue growth and profit margins, as well as recent mixed but generally supportive updates from banks that have adjusted targets in line with company guidance and gold price expectations. Analyst Commentary Recent research on Gold Fields reflects a split view, but the price target actions provide some clear clues about how more positive analysts are framing the story for you as an investor.GFI: Higher Gold Price Framework And Capital Returns Will Support Re Rating
Analysts have nudged their price targets on Gold Fields higher, with recent changes such as Citi moving to $57 from $50 and Scotiabank adding $14. These adjustments reflect updated views on gold price assumptions, reinvestment plans and capital returns.GFI: Higher Gold Price Assumptions And Capital Returns Will Drive Re Rating
Analysts have raised their fair value estimate for Gold Fields from $640.00 to $1,100.00, citing recent price target changes that reference the company's Q3 report, updated gold price assumptions, and new five-year guidance featuring higher reinvestment and a competitive capital returns program. Analyst Commentary Bullish analysts are pointing to recent research as a sign that sentiment around Gold Fields is improving, especially after the latest Q3 report and updated guidance.
GFI: Higher Gold Price Assumptions And Projects Are Expected To Drive Upside
The analyst price target for Gold Fields has shifted modestly higher to about $831.30 from $815.61, as analysts factor in updated fair value, adjusted discount rates, stronger revenue growth and profit margin assumptions, and a slightly lower future P/E, informed by recent research that reflects reactions to Q3 results, evolving gold price views, and the company’s latest capital plans. Analyst Commentary Recent Street research on Gold Fields shows a mix of optimism and caution, with several firms revisiting their targets and ratings after the latest Q3 update, revised gold price assumptions, and the company’s refreshed capital plans and guidance.Gold Fields Limited's (JSE:GFI) Price In Tune With Earnings
Dec 27GFI: Elevated Capex And Project Execution Will Likely Pressure Future Returns
The analyst fair value estimate for Gold Fields has been raised sharply from about $400 to roughly $630, as analysts factor in higher gold price assumptions, stronger projected revenue growth and margins, and medium term upside from the company's growth projects and capital returns program. Analyst Commentary Recent Street research paints a mixed picture for Gold Fields, with a widening range of price targets and ratings that reflect both optimism on gold prices and emerging concerns around execution and capital allocation.Here's Why Gold Fields (JSE:GFI) Has Caught The Eye Of Investors
Dec 11GFI: Future Sector Trends And Project Delivery Will Shape Medium-Term Prospects
The analyst price target for Gold Fields increased by $8.67 to $815.61. Analysts cited higher gold prices, updated guidance, and ongoing project momentum as key factors behind the upward revision.GFI: Sector Momentum Will Drive Medium-Term Upside From Australian Mine Acquisition
Analysts have raised their price target for Gold Fields, increasing the fair value estimate from $789.23 to $806.94. They cited ongoing sector momentum, resilient precious metal prices, and positive outlooks for the company’s upcoming projects.GFI: Windfall Progress Will Drive Medium-Term Upside Following Australian Mine Deal
Analysts have raised Gold Fields' fair value estimate by approximately $85 to $789, citing updated forecasts for improved profit margins, revenue growth, as well as a supportive outlook for gold prices and capital returns. Analyst Commentary Recent Street research on Gold Fields highlights both optimism and caution among analysts regarding the company’s future prospects, as reflected in recent ratings and price target adjustments.Is Gold Fields (JSE:GFI) Using Too Much Debt?
Oct 27Salares Norte And Windfall Will Face Risks Yet Unlock Potential
The consensus analyst price target for Gold Fields has risen significantly from $590.81 to $704.56. Analysts cite higher gold prices, improved operational momentum, and updated growth expectations as primary factors for the upward revision.Salares Norte And Windfall Will Face Risks Yet Unlock Potential
Analysts have raised their price target for Gold Fields from $24 to $32. They cite continued gold price strength and solid operational momentum as key drivers for the upward revision.Gold Fields Limited's (JSE:GFI) Shares Climb 25% But Its Business Is Yet to Catch Up
Sep 25Salares Norte And Windfall Will Face Risks Yet Unlock Potential
Analysts have raised Gold Fields' price target to ZAR547.51, citing stronger gold prices, solid operational momentum, and production guidance tracking, with the upward revision reflecting improved valuation despite slightly higher costs and balanced risk. Analyst Commentary Higher price target reflects increased valuation multiples due to sustained gold price strength.Operational Challenges May Affect Margins, But Developments Like Salares Norte Will Enhance Production
Analysts have raised Gold Fields’ price target to ZAR493.30, citing higher gold prices, continued operational momentum, and production levels in line with guidance, which outweigh modest cost increases despite maintaining a Market Perform rating. Analyst Commentary Higher gold prices leading to increased valuation multiples.
South Deep Efficiency Improvements And Salares Norte Ramp-Up Will Increase Future Production
Focus on capital allocation, exploration, and energy projects could improve revenue and shareholder value while reducing costs.Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 13,281 | 4,437 | 3,914 | 6,463 | 5 |
| 12/31/2027 | 13,195 | 5,123 | 4,463 | 6,230 | 8 |
| 12/31/2026 | 13,101 | 5,387 | 4,472 | 6,634 | 8 |
| 12/31/2025 | 8,751 | 3,567 | 3,089 | 4,479 | N/A |
| 9/30/2025 | 7,653 | 2,725 | 2,411 | 3,730 | N/A |
| 6/30/2025 | 6,555 | 1,883 | 1,734 | 2,981 | N/A |
| 3/31/2025 | 5,878 | 1,564 | 1,254 | 2,470 | N/A |
| 12/31/2024 | 5,202 | 1,245 | 775 | 1,958 | N/A |
| 9/30/2024 | 4,780 | 958 | 545 | 1,711 | N/A |
| 6/30/2024 | 4,358 | 671 | 316 | 1,464 | N/A |
| 3/31/2024 | 4,430 | 696 | 411 | 1,513 | N/A |
| 12/31/2023 | 4,501 | 722 | 507 | 1,561 | N/A |
| 6/30/2023 | 4,318 | 629 | 522 | 1,554 | N/A |
| 3/31/2023 | 4,302 | 663 | 568 | 1,619 | N/A |
| 12/31/2022 | 4,287 | 698 | 614 | 1,684 | N/A |
| 9/30/2022 | 4,367 | 811 | 596 | 1,713 | N/A |
| 6/30/2022 | 4,447 | 912 | 578 | 1,742 | N/A |
| 3/31/2022 | 4,321 | 850 | 521 | 1,647 | N/A |
| 12/31/2021 | 4,195 | 819 | 464 | 1,553 | N/A |
| 9/30/2021 | 4,158 | 872 | 508 | 1,460 | N/A |
| 6/30/2021 | 4,121 | 955 | 553 | 1,367 | N/A |
| 3/31/2021 | 4,007 | 839 | 609 | 1,308 | N/A |
| 12/31/2020 | 3,892 | 723 | 665 | 1,249 | N/A |
| 9/30/2020 | 3,618 | 485 | 577 | 1,116 | N/A |
| 6/30/2020 | 3,343 | 247 | 488 | 983 | N/A |
| 3/31/2020 | 3,155 | 204 | 383 | 937 | N/A |
| 12/31/2019 | 2,967 | 162 | 278 | 891 | N/A |
| 9/30/2019 | 2,786 | 125 | N/A | 849 | N/A |
| 6/30/2019 | 2,606 | 89 | N/A | 808 | N/A |
| 3/31/2019 | 2,592 | -130 | N/A | 711 | N/A |
| 12/31/2018 | 2,578 | -348 | N/A | 614 | N/A |
| 9/30/2018 | 2,693 | -400 | N/A | 685 | N/A |
| 6/30/2018 | 2,808 | -452 | N/A | 818 | N/A |
| 3/31/2018 | 2,785 | -242 | N/A | 821 | N/A |
| 1/1/2018 | 2,762 | -32 | N/A | 795 | N/A |
| 9/30/2017 | 2,737 | 35 | N/A | 834 | N/A |
| 6/30/2017 | 2,712 | 101 | N/A | 843 | N/A |
| 3/31/2017 | 2,689 | 129 | N/A | 900 | N/A |
| 12/31/2016 | 2,666 | 157 | N/A | 957 | N/A |
| 9/30/2016 | 2,512 | -121 | N/A | 872 | N/A |
| 6/30/2016 | 2,535 | -130 | N/A | 806 | N/A |
| 3/31/2016 | 2,565 | -173 | N/A | 801 | N/A |
| 12/31/2015 | 2,454 | -239 | N/A | 759 | N/A |
| 9/30/2015 | 2,613 | -10 | N/A | 782 | N/A |
| 6/30/2015 | 2,677 | -9 | N/A | 767 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GFI's forecast earnings growth (6.6% per year) is below the savings rate (9.8%).
Earnings vs Market: GFI's earnings (6.6% per year) are forecast to grow slower than the ZA market (15.8% per year).
High Growth Earnings: GFI's earnings are forecast to grow, but not significantly.
Revenue vs Market: GFI's revenue (12.4% per year) is forecast to grow faster than the ZA market (6.9% per year).
High Growth Revenue: GFI's revenue (12.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: GFI's Return on Equity is forecast to be high in 3 years time (28%)
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 01:24 |
| End of Day Share Price | 2026/05/06 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Gold Fields Limited is covered by 20 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Herbert Kharivhe | Absa Bank Limited |
| Andrew Byrne | Barclays |
| Raj Ray | BMO Capital Markets Equity Research |