NEW YORK (TheStreet) -- Shares of Gold Fields Ltd. (GFI) are higher by 4.89% to $4.29 in late morning trading on Thursday, following the company's announcement its net earnings for the 2014 third quarter were $19 million, compared to $9 million, for the same period last year.
Gold Fields' normalized earnings for the most recent quarter were $23 million, compared to $12 million for the 2013 third quarter.
"Key features of the quarter included a strong performance from the international mines, all seven of which were cash generative, as well as the completion of the production-critical safety related ground support at South Deep," said company CEO Nick Holland.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
The gold mining company said its "strong operational performance" generated a $63 million cash flow.
Gold Fields' "continued strong cash generation during the quarter enabled the group to make further progress on another key strategic objective for 2014, namely to further improve the strength of its balance sheet by reducing net debt and further improving the net debt to EBITDA ratio," the company said.
Separately, TheStreet Ratings team rates GOLD FIELDS LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOLD FIELDS LTD (GFI) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and disappointing return on equity."