Gold Fields Limited
Gold Fields Limited Q1 FY26 Results — Earnings Call Analysis
Q1 FY26 earnings call: what management said on revenue, margins and capex.
What the Q1 FY26 call signalled
1 of 3 strong
The short version
- Production guidance for 2026 is targeted between 2.4 million and 2.6 million ounces of gold, reflecting a stable to slightly increased volume. - Production is expected to remain strong with a focus on asset optimization opportunities embedded into 2026 plans (Page 2, 4).
From Gold Fields Limited's Q1 FY26 earnings-call transcript · updated 29 May 2026.
Revenue & Sales Performance
- Production guidance for 2026 is targeted between 2.4 million and 2.6 million ounces of gold, reflecting a stable to slightly increased volume.
- Continued ramp-up and steady-state production at Salares Norte expected to support output growth.
- Windfall project advancement toward Final Investment Decision (FID) planned for mid-2026, aiming for first gold in 2029, positioning for future volume growth.
- Reserve replacement was strong in 2025 with a 9% increase, supporting sustainable production volumes going forward.
- Portfolio optimization initiatives and brownfields exploration, especially at Windfall and Gruyere, designed to enhance future production profiles.
- Greenfields exploration investments ($101 million in 2025) aim to build long-term pipeline and revenue streams.
2 more points from Gold Fields Limited's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- Gold Fields plans total capital expenditure (CapEx) between $1.9 billion and $2.1 billion for 2026, aligned with their Capital Markets Day guidance.
- Significant CapEx increases in Australia:
- Gruyere: Increase of ~$150 million due to consolidation at 100% ownership.
- Granny Smith: Around $100 million for upgrades in ventilation, cooling, and power for accessing Zone 150 ore body.
- Agnew: $50 million for tailings paste plant, ventilation, and cooling upgrades.
- St Ives: $50 million increase at Invincible complex and material handling system.
- Total Australian CapEx in 2026 expected to be close to $1 billion.
- Focused investments at Windfall project to advance Final Investment Decision (FID) in mid-2026, including completing environmental approvals and infrastructure readiness.
2 more points from Gold Fields Limited's call on capex
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Fundraising & Capital Structure
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Order Book & Pipeline
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Continue your research
Others in Metals and Mining this season
- Southern Copper Corporation (Q1 FY26)
Southern Copper Corporation Q1 FY26 quarterly results analysis. Copper production expected at 911,400 tons in 2026, a 4.7% decrease from 2025 due to lower ore g
- BHP Group Limited (Q1 FY26)
BHP Group Limited Q1 FY26 quarterly results analysis. Copper production growth targeted at around 3% to 4% compound annual growth through to 2035. - Brownfield-
Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Gold Fields Limited Q1 FY26 results?
- Production guidance for 2026 is targeted between 2.4 million and 2.6 million ounces of gold, reflecting a stable to slightly increased volume. - Production is expected to remain strong with a focus on asset optimization opportunities embedded into 2026 plans (Page 2, 4).
What is Gold Fields Limited share price analysis?
Gold Fields Limited currently shows a neutral. The stock trades at a P/E of 10.4 with a market cap of $36,007. Investors should review the full earnings analysis for detailed insights.
Is Gold Fields Limited planning capital expenditure?
- Gold Fields plans total capital expenditure (CapEx) between $1.9 billion and $2.1 billion for 2026, aligned with their Capital Markets Day guidance.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.