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.

By Felix Njini and Nelson Banya JOHANNESBURG (Reuters) -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,

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.

History has shown that gold has always been one of the most secure stores of value, especially during times of economic uncertainty and downturns.

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.