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

Gold Fields Limited (NYSE:GFI)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $13.66, but opened at $14.46. Gold Fields shares last traded at $14.44, with a volume of 679,394 shares.

Analyst Ratings Changes

A number of analysts have commented on the stock. Scotiabank reduced their target price on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a report on Monday, August 26th. Bank of America initiated coverage on shares of Gold Fields in a research report on Monday, September 16th. They set a “buy” rating and a $16.00 target price on the stock. Investec upgraded Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, StockNews.com lowered shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gold Fields has a consensus rating of “Hold” and an average price target of $15.93.

Gold Fields Stock Performance

The stock has a 50-day simple moving average of $15.69 and a 200 day simple moving average of $15.66.

Gold Fields Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were given a $0.1692 dividend. The ex-dividend date was Friday, September 13th. This represents a yield of 2.2%.

Hedge Funds Weigh In On Gold Fields

Several large investors have recently made changes to their positions in GFI. Van ECK Associates Corp increased its holdings in Gold Fields by 3.3% in the third quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock valued at $744,566,000 after buying an additional 1,549,372 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Gold Fields by 10.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,155,835 shares of the company’s stock valued at $94,492,000 after purchasing an additional 580,546 shares in the last quarter. RWC Asset Management LLP boosted its stake in Gold Fields by 10.0% during the 2nd quarter. RWC Asset Management LLP now owns 3,588,984 shares of the company’s stock worth $53,476,000 after purchasing an additional 324,885 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Gold Fields by 28.7% during the second quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock worth $38,878,000 after buying an additional 581,730 shares in the last quarter. Finally, Bamco Inc. NY raised its position in shares of Gold Fields by 4.8% in the third quarter. Bamco Inc. NY now owns 2,018,817 shares of the company’s stock valued at $30,989,000 after buying an additional 92,571 shares during the last quarter. 26.02% of the stock is currently owned by institutional investors and hedge funds.

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.