Gold Fields (NYSE:GFI) Shares Gap Up to $15.35

Gold Fields Limited (NYSE:GFI)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $15.35, but opened at $15.82. Gold Fields shares last traded at $16.17, with a volume of 688,073 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. BMO Capital Markets upgraded shares of Gold Fields from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $13.50 to $14.00 in a report on Wednesday, June 26th. StockNews.com raised Gold Fields from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 25th. Scotiabank cut their price target on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. JPMorgan Chase & Co. decreased their price objective on Gold Fields from $17.50 to $16.70 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, Bank of America started coverage on Gold Fields in a research report on Monday, September 16th. They issued a “buy” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.93.

Gold Fields Price Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 1.77. The company has a fifty day moving average price of $15.27 and a two-hundred day moving average price of $15.77. The company has a market cap of $14.52 billion, a P/E ratio of 8.88, a PEG ratio of 0.56 and a beta of 1.17.

Gold Fields Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were paid a $0.1692 dividend. The ex-dividend date was Friday, September 13th. This represents a yield of 2.2%. Gold Fields’s dividend payout ratio is 14.84%.

Hedge Funds Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently made changes to their positions in GFI. GAMMA Investing LLC lifted its stake in Gold Fields by 78.4% in the first quarter. GAMMA Investing LLC now owns 3,098 shares of the company’s stock valued at $49,000 after acquiring an additional 1,361 shares during the last quarter. Parallel Advisors LLC grew its holdings in Gold Fields by 51.7% during the fourth quarter. Parallel Advisors LLC now owns 4,878 shares of the company’s stock worth $71,000 after purchasing an additional 1,662 shares during the period. LGT Fund Management Co Ltd. acquired a new position in Gold Fields during the second quarter worth approximately $149,000. Concurrent Investment Advisors LLC acquired a new position in Gold Fields during the second quarter worth approximately $153,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Gold Fields by 10.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock valued at $172,000 after buying an additional 1,090 shares during the period. 26.02% of the stock is owned by institutional investors.

Gold Fields Company Profile

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.