GFI: Time to knock on that door again?

Since the market’s April low, the S&P 500 has surged more than 20%. Investors poured into high flyers: AI, semiconductors, mega-cap tech. The rally has been fast and crowded, driven by momentum and optimism. But not every part of the market shared in the celebration.

Gold stocks, once seen as a safe haven in times of uncertainty, were quietly left behind. The sector was sold off, not necessarily because the fundamental case weakened, but because attention drifted elsewhere. In an environment where risk-taking came back into fashion, defensive assets were ignored.

Among the forgotten sits Gold Fields Ltd. (GFI), a name once embraced for its leverage to gold prices and operational reach across key mining regions. It hasn't changed much. What changed was the narrative: investors stopped looking.

But maybe that’s the point. Markets are forward-looking, but they also over-correct. In their rush to chase the next big thing, investors often discard assets that still hold long-term value. With gold prices holding near record highs and macro risks quietly brewing beneath the surface, it may be time to ask:

Is it time to welcome back an old friend like GFI?