Gold Fields (NYSE:GFI) Upgraded at Investec

Investec upgraded shares of Gold Fields (NYSE:GFI) from a hold rating to a buy rating in a report published on Friday morning, MarketBeat Ratings reports.

Other analysts also recently issued research reports about the company. Scotiabank dropped their price target on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. StockNews.com upgraded shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 25th. Bank of America assumed coverage on shares of Gold Fields in a report on Monday, September 16th. They issued a “buy” rating and a $16.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Gold Fields from $17.50 to $16.70 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, BMO Capital Markets upgraded shares of Gold Fields from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $13.50 to $14.00 in a research report on Wednesday, June 26th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.93.

Gold Fields Stock Performance

Shares of GFI stock opened at $18.33 on Friday. Gold Fields has a 52-week low of $12.19 and a 52-week high of $18.97. The business’s fifty day moving average is $15.24 and its 200 day moving average is $15.83. The company has a market capitalization of $16.41 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18.

Gold Fields Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were paid a dividend of $0.1692 per share. This represents a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 13th. Gold Fields’s dividend payout ratio (DPR) is presently 14.14%.

Institutional Investors Weigh In On Gold Fields

A number of hedge funds have recently made changes to their positions in GFI. First Eagle Investment Management LLC bought a new position in shares of Gold Fields during the 1st quarter valued at $85,326,000. Van ECK Associates Corp grew its stake in shares of Gold Fields by 6.6% during 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 during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Gold Fields by 145.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,129,278 shares of the company’s stock worth $16,329,000 after buying an additional 669,819 shares during the period. South Street Advisors LLC purchased a new position in shares of Gold Fields in the first quarter worth about $9,260,000. Finally, Mackenzie Financial Corp lifted its stake in shares of Gold Fields by 28.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock valued at $38,878,000 after acquiring an additional 581,730 shares during the last quarter. 26.02% of the stock is currently owned by institutional investors.

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.