Gold Fields warns first-half profits will decline by up to 16%
Share price slumps 9% before bouncing back
02 August 2023 - 18:25
Gold Fields lost as much as 9% of its market value on Wednesday but subsequently recovered as the market adjusted to the trading update in which the gold producer expects its first-half profits to drop by up to 16% despite elevated gold prices.
In an apparent knee-jerk reaction, the share price initially slumped 9% before bouncing back to trade relatively flat at R256.72 by early afternoon on the JSE, giving Gold Fields a market value of R230bn. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.