Bank of New York Mellon Corp Cuts Stock Holdings in Gold Fields Limited (NYSE:GFI)

Bank of New York Mellon Corp lessened its holdings in Gold Fields Limited (NYSE:GFI) by 61.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,462 shares of the company’s stock after selling 59,127 shares during the quarter. Bank of New York Mellon Corp’s holdings in Gold Fields were worth $558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GFI. Van ECK Associates Corp boosted its stake in shares of Gold Fields by 6.6% in the first quarter. Van ECK Associates Corp now owns 47,241,502 shares of the company’s stock valued at $750,667,000 after buying an additional 2,934,943 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of Gold Fields in the first quarter valued at about $85,326,000. Schroder Investment Management Group boosted its holdings in Gold Fields by 4.5% during the fourth quarter. Schroder Investment Management Group now owns 3,240,748 shares of the company’s stock worth $46,861,000 after buying an additional 139,205 shares in the last quarter. National Bank of Canada FI grew its position in Gold Fields by 2.7% during the first quarter. National Bank of Canada FI now owns 1,656,644 shares of the company’s stock worth $28,063,000 after buying an additional 43,571 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Gold Fields by 145.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,129,278 shares of the company’s stock valued at $16,329,000 after buying an additional 669,819 shares in the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.

Gold Fields Trading Up 2.4 %

Gold Fields stock opened at $15.52 on Tuesday. The stock has a market cap of $13.89 billion, a PE ratio of 8.82 and a beta of 1.17. The company has a current ratio of 1.77, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $15.37 and a 200 day moving average price of $15.75. Gold Fields Limited has a 52 week low of $10.31 and a 52 week high of $18.97.

Gold Fields Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 13th will be paid a dividend of $0.1692 per share. This represents a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, September 13th. Gold Fields’s payout ratio is 15.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. BMO Capital Markets upgraded Gold Fields from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $13.50 to $14.00 in a report on Wednesday, June 26th. JPMorgan Chase & Co. cut their price target on Gold Fields from $17.50 to $16.70 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Scotiabank decreased their price objective on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. Bank of America began coverage on shares of Gold Fields in a report on Monday, September 16th. They set a “buy” rating and a $16.00 target price for the company. Finally, StockNews.com raised shares of Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.93.

About Gold Fields

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, Canada, Australia, and Peru. It also explores for copper and silver deposits. The company was founded in 1887 and is based in Sandton, South Africa.