Benzinga | Aug 25, 2020 03:06PM EDT

Why Gold Fields's Stock Is Trading Lower Today

Gold Fields Limited (NYSE:GFI) shares were trading lower on Tuesday.

The shares of several gold companies are trading lower as gold dips, potentially on easing U.S.-China tensions. Traders are also awaiting Fed Chair Powell's Thursday speech, in which he is expected to discuss inflation.

Gold Fields is a globally diversified gold miner and producer with eight operating mines in Australia, Ghana, Peru, and South Africa. The majority of group revenue is generated in the Australian mines, largely the St Ives and Granny Smith sites, with Ghana the second- largest contributor of revenue. The company is involved in underground and surface gold and copper mining and related activities, including exploration, development, extraction, processing, and smelting. In Peru, the company also produces copper, and it has other precious metal exploration interests in Africa, Eurasia, Australasia, and the Americas.

Gold Fields shares were trading down 2.48% at $12.20 on Tuesday. The stock has a 52-week high of $14.40 and a 52-week low of $3.79.