Gold Fields may consider a share buyback programme as a way to boost shareholder returns if the gold price remains elevated, CEO Mike Fraser said on Thursday, as the mining company reported a 42% jump in annual profit.

Gold prices have soared more than 40% since the beginning of last year, notching multiple records during the period and driving acquisitions by miners of the precious metal. Last year, Gold Fields announced a $1.6 billion deal to buy Osisko Mining, giving the company full control of the Windfall development project in Canada.

Gold Fields (NYSE:GFI) +4.2% pre-market Thursday after reporting a 42% jump in FY 2024 profit and saying it met revised full-year guidance after a stronger H2 performance. The South African miner said net profit jumped to $1.

Gold Fields on Thursday reported a 42% jump in profit for last year, supported by a rally in gold prices, even though its gold output fell 10%. The Johannesburg-based gold miner raised its dividend by 34% to 10 rand ($0.

Gold Fields, a prominent mining company listed as GFIJ.J, is contemplating the implementation of a share buyback program as a potential strategy to enhance shareholder returns. This strategic consideration comes in the wake of the company reporting a substantial 42% increase in annual profit.