Gold Fields Limited (ADR) (NYSE:GFI) shares are trading down

1100

Dallas, Texas 08/26/2013 (Financialstrend) – It was recently reported that Gold Fields Limited (ADR) (NYSE:GFI) had made losses for the second quarter of fiscal year 2013 and that there would an effective restructuring of the board of directors. It was reported that the company with mining reserves in Peru, Ghana, Australia and South Africa had incurred net loss from continuing operations at $129 million for the quarter that ended of June 30, 2013 compared to the earnings at $105 million for the same quarter of previous year. Further, an announcement had also been made related to an agreement with Barrick Gold Corporation, according to which Gold Fields would move on to acquire the stake held by Barrick in Granny Smith, Lawlers and Darlot gold mines for an aggregate value of $300 million.

It was further noted that the proposed restructuring of the board of Gold Fields Limited (ADR) (NYSE:GFI) would prove effective to present savings by about $230 million for the fiscal year of 2013 relative to the earlier announced financial guidance.

Gold Fields Limited (ADR) (NYSE:GFI) had been presenting decrease in prices by 1.05% on Friday to close the week at $5.65 per share. The stock had been observed to present intraday price movements in the range of $5.39 to $5.71 per share on Friday and had further attracted around 15.10 million trades on the last day of the week. However, the average level of trading volume for the stock had been reported to be at 5.54 million shares per day. It is recorded that the stock’s 52 week lowest price is at $4.67 and 52 week highest price is at $13.56 per share. The company’s total outstanding shares in the market are at 734.44 million to record market cap at $4.15 billion and institutional holdings are at 34%.