The gold miner reported attributable gold equivalent production of 631,000 ounces for Q4, its best quarterly performance of the year.

The result was a 4% improvement on the September quarter and 6% better than estimates by analysts at BMO Capital Markets.

Normalised full-year headline earnings per share were guided at US$1.02-1.08 per share, slightly ahead of consensus at 98c and between 2-8% above the figure of $1 per share reported for 2020.

BMO said the higher-than-expected earnings were "likely a function of higher-than-expected production offset partially by higher-than-expected costs".

Like most miners, Gold Fields saw costs rise over the course of the year.

All-in sustaining costs were guided at $1055/oz, up from $1016/oz in the September quarter.

The company said AISC for the full year was expected to come in at $1063/oz, up from $977/oz in 2020 and slightly ahead of their guidance for the year of $1020-1060/oz and above consensus at $1052/oz.

All-in costs for the year are expected to be $1297/oz, higher than 2020 ($1079/oz) due to the increased project capex at Salares Norte in Chile and below the lower end of the guidance range of $1310-1350/oz.

The company operates the Agnew, Granny Smith, St Ives and Gruyere mines in Western Australia, South Deep in South Africa, Asanko, Damang and Tarkwa in Ghana and Cerro Corona in Peru.

Gold Fields will report its full 2021 financial and operating results on February 17.