Gold Fields Limited (NYSE:GFI) Sees Significant Decrease in Short Interest

Gold Fields Limited (NYSE:GFI) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 8,160,000 shares, a decline of 7.8% from the October 31st total of 8,850,000 shares. Based on an average daily trading volume, of 2,930,000 shares, the days-to-cover ratio is presently 2.8 days.

Gold Fields Stock Performance

GFI traded down $0.28 during trading on Wednesday, hitting $14.22. The stock had a trading volume of 1,282,388 shares, compared to its average volume of 3,599,390. The company’s 50-day moving average price is $15.76 and its 200 day moving average price is $15.52. Gold Fields has a twelve month low of $12.19 and a twelve month high of $18.97.

Analysts Set New Price Targets

Several research firms recently commented on GFI. StockNews.com downgraded shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 5th. Scotiabank reduced their price target on shares of 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. Investec upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, Bank of America began coverage on shares of Gold Fields in a research report on Monday, September 16th. They issued a “buy” rating and a $16.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.93.

Hedge Funds Weigh In On Gold Fields

Institutional investors have recently bought and sold shares of the company. LGT Fund Management Co Ltd. acquired a new position in Gold Fields in the 2nd quarter valued at $149,000. Concurrent Investment Advisors LLC acquired a new position in shares of Gold Fields during the 2nd quarter worth $153,000. QRG Capital Management Inc. acquired a new position in shares of Gold Fields during the 3rd quarter worth $160,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Gold Fields by 10.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock worth $172,000 after purchasing an additional 1,090 shares during the period. Finally, Candriam S.C.A. acquired a new position in shares of Gold Fields during the 2nd quarter worth $189,000. 26.02% of the stock is owned by institutional investors and hedge funds.

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.