Gold Fields (GFI) Stock Falls on Weak Quarterly Results

NEW YORK (TheStreet) -- Shares of Gold Fields (GFI) were falling 7% to $3.83 on Thursday morning after the gold mining company announced its first quarter results.

Gold Fields reported a loss of $13.9 million in the first quarter of 2015, down from break-even in the year-ago quarter, but up from a loss of $25.5 million in the fourth quarter of 2014.

The gold miner said gold production fell to 501,000 ounces in the first quarter.

Gold Fields maintained its annual production forecast of 2.2 million ounces and an all-in sustaining cost of $1,055 an ounce despite the weaker than expected first quarter, according to Bloomberg.

"We planned to be lower this quarter in accordance with mine scheduling," CEO Nick Holland told the news service. Holland added that "Sometimes mining is not a linear process in each quarter."

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 number of negative factors, 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 area that we feel has been the company's primary weakness has been its generally higher debt management risk."

You can view the full analysis from the report here: GFI Ratings Report

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