Gold Fields Expects to Swing to 2016 Profit -- Update

LONDON--Gold Fields Ltd. (GFI.JO) said Friday that it would swing to profit for 2016 primarily because of a year-over-year increase in gold prices, lower costs, weaker exchange rates and a decline in exceptional charges.

The South African gold-mining company said earnings per share for the year ended Dec. 31, 2016, is expected to be between $0.18 and $0.21, compared with a loss per share of $0.31 recorded in 2015. Headline earnings per share for year is anticipated to be between $0.25 and $0.27 versus a headline loss per share of $0.04 a year ago.

Gold production for the year is estimated to total 2.15 million ounces, compared with 2.16 million ounces recorded in 2015. This compares with a 2016 gold production guidance range of 2.10 million to 2.15 million ounces.

Gold Fields is scheduled to release its 2016 results on Feb. 16.

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

February 03, 2017 02:43 ET (07:43 GMT)

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