Goldman Sachs starts coverage as Gold Fields stock gets USD 38 target

Published on 10/20/2026 at 12:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Gold Fields stock costs EUR 32.30 on October 20, 2026. Its USD 32.7 billion market value accompanies a USD 38.00 target.

Analyst coverage and operating scale

Goldman Sachs began coverage with a USD 38.00 target on October 15, 2026.
First-half 2026 profit reached USD 1,855 million versus USD 1,027 million.
Gold Fields stock traded at EUR 32.30 at 12:32 p.m. CEST at Lang & Schwarz on October 20, 2026.

Raubex, ZAE000018123, Illustration mit AI erstellt.

Gold Fields Limited (ISIN ZAE000018123) received a USD 38.00 price target as Goldman Sachs began coverage with a neutral stance on October 15, 2026, according to MarketScreener. The initiation gives investors a fresh valuation reference while Gold Fields continues to balance production growth with acquisition ambitions.

Goldman sets a USD 38 target

The Goldman Sachs note put the target at USD 38.00 and the rating at Neutral on October 15, 2026. The target is an analyst valuation, not a completed transaction or company guidance.

Gold Fields had also proposed a combination with Northern Star Resources on September 13, 2026, valuing the Australian miner at AUD 38.7 billion, according to wallstreetONLINE. Northern Star rejected the approach, leaving the strategic proposal separate from the Goldman valuation.

What supports the valuation?

Gold Fields produced 1.267 million gold-equivalent ounces in the first half of 2026. Adjusted free cash flow reached USD 2,225 million, while all-in sustaining costs were USD 1,893 per ounce, according to wallstreetONLINE. The company expects full-year production of 2.4 million to 2.6 million ounces and costs of USD 1,800 to USD 2,000 per ounce.

Three events shaped the stock

On September 13, 2026, Gold Fields proposed the AUD 38.7 billion Northern Star combination. On October 7, 2026, it agreed to acquire BHP's Kambalda nickel concentrator and related rights, with completion planned for 2027, according to Boerse Express. On October 15, 2026, Goldman Sachs began coverage at Neutral with a USD 38.00 target.

Next reporting date

Gold Fields is scheduled to publish its third-quarter 2026 operating results on November 4, 2026, according to MarketScreener. That release should provide the next reported check on production, costs and cash generation.

Gold Fields stock at EUR 32.30

Gold Fields stock was trading at EUR 32.30 at Lang & Schwarz on October 20, 2026 at 12:32 p.m. CEST. Gold Fields has a market capitalization of USD 32.7 billion as of October 20, 2026, and trades primarily on the Johannesburg Stock Exchange under ticker GFI.JO.

The further course of trading is shown by the continuously updated real-time quote of Gold Fields stock.