Trade of the Day: Gold Fields (GFI) Stock Offers a Contrarian Opportunity
Gold Fields (GFI) Investor Place·2024-08-14 02:44
While the precious metals complex largely enjoyed a positive session on Monday thanks to gold's spot price rising, South African gold miner Gold Fields (NYSE:GFI) suffered the opposite trajectory: GFI stock stumbled and quite badly, losing roughly 5% of market value. Driving the sentiment downward was the company's announced acquisition of Canada's Osisko Mining (OTCMKTS:OBNNF) in a deal valued at $2.16 billion. Investors seem to believe that the deal is too rich for Gold Fields, which will use cash to acqu ...