Baron Funds Expects at Least 50% Future Production Growth in Gold Fields Limited (GFI)

Baron Funds, an asset management company, released its “Baron Emerging Markets Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund declined 10.33% in the second quarter compared to an 11.45% decline for its benchmark, the MSCI EM Index. Reversal and a modest recovery in China-related equities during the quarter led to the fund’s outperformance over its benchmark index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Baron Funds discussed stocks like Gold Fields Limited (NYSE:GFI) in the second quarter investor letter. Based in Sandton, South Africa, Gold Fields Limited (NYSE:GFI) is a gold-producing company. On September 9, 2022, Gold Fields Limited (NYSE:GFI) stock closed at $8.44 per share. One-month return of Gold Fields Limited (NYSE:GFI) was -8.76% and its shares lost 2.31% of their value over the last 52 weeks. Gold Fields Limited (NYSE:GFI) has a market capitalization of $7.151 billion.

Here is what Baron Funds specifically said about Gold Fields Limited (NYSE:GFI) in its Q2 2022 investor letter:

“Gold Fields Limited (NYSE:GFI) is an established gold producer based in South Africa with a diversified global portfolio of precious metals assets. Shares fell due to the pullback in gold prices and the company’s announced acquisition of gold producer Yamana Gold at a large premium. We are positive on gold prices and expect continuous improvements in Gold Fields’ cash costs. We expect at least 50% production growth over the next decade as the company ramps up volumes, including Yamana’s high quality development projects in Chile, Canada, and Brazil.”

Gold Fields Limited (NYSE:GFI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Gold Fields Limited (NYSE:GFI) at the end of the second quarter which was 14 in the previous quarter.

We discussed Gold Fields Limited (NYSE:GFI) in another article and shared the list of African companies to invest in. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.