Gold Fields (NYSE:GFI) Shares Gap Up – Here’s What Happened

Gold Fields Limited (NYSE:GFI) shares gapped up before the market opened on Wednesday . The stock had previously closed at $15.69, but opened at $16.28. Gold Fields shares last traded at $16.37, with a volume of 437,394 shares traded.

Analyst Upgrades and Downgrades

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

Gold Fields Price Performance

The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. The business has a fifty day moving average price of $15.12 and a 200 day moving average price of $15.82.

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 given a dividend of $0.1692 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 2.2%. Gold Fields’s dividend payout ratio (DPR) is 14.14%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Gold Fields by 78.4% during the first quarter. GAMMA Investing LLC now owns 3,098 shares of the company’s stock worth $49,000 after purchasing an additional 1,361 shares in the last quarter. LGT Fund Management Co Ltd. bought a new position in Gold Fields during the second quarter valued at about $149,000. Concurrent Investment Advisors LLC bought a new position in Gold Fields during the second quarter valued at about $153,000. Hennion & Walsh Asset Management Inc. grew its holdings in Gold Fields by 10.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock worth $172,000 after acquiring an additional 1,090 shares during the period. Finally, Candriam S.C.A. bought a new stake in Gold Fields in the second quarter worth about $189,000. 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.