Salares Norte Changed The Story For Gold Fields
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The Curious Analyst4.25K FollowersFollow5ShareSavePlay(10min)CommentsSummaryI am rating Gold Fields a Strong Buy rating as it transitions from a multi-year build story to robust cash generation, notably driven by Salares Norte.GFI delivered an 18% production increase in 2025 and $2.97Bn in adjusted FCF and has implemented a shareholder-friendly dividend policy targeting 35% of FCF.Salares Norte reached steady-state operations, producing 397 Koz in 2025 with $808Mn FCF, positioning GFI for a potential equity rerating.GFI trades at a discount to sector medians despite improved portfolio quality, record FCFs, and enhanced asset control, with key risks centered on sustaining Salares Norte's performance. Biswa1992/iStock via Getty Images Investment Thesis Let me start by saying that I am rating Gold Fields Limited (GFI) a Strong Buy because the company has crossed an important line. I am saying this because it is no longerThis article was written byThe Curious Analyst4.25K FollowersFollowMy background is in Financial Engineering and I have long since been interested in analyzing strong solid companies with a rare financial Profile. My primary area of specialization is in quantamental analysis, where I use a combination of data driven models and fundamental research. My approach is centered on a structured process that combines top-down screening with bottom-up company specific analysis .I write on to share ideas with a wider audience and also learn more about companies and other analysts. My goal is to make unique ideas & research accessible to retail and professional investors alike, while maintaining analytical depth and a clear investment thesis.Associated with another author Kennedy NjagiAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in GFI over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.