ABC Arbitrage SA Raises Holdings in Gold Fields Limited (NYSE:GFI)

Key Points

• ABC Arbitrage SA increased its holdings in Gold Fields Limited by 366.1% in the first quarter, acquiring an additional 455,157 shares to reach a total of 579,476 shares.
• The stock now represents about 2.4% of ABC Arbitrage SA's investment portfolio, making it the firm's 12th largest position with a value of approximately $12.8 million.
• Gold Fields is rated as a "Moderate Buy" by analysts, with an average price target of $22.36, following several recent changes in analyst ratings.

ABC Arbitrage SA increased its holdings in Gold Fields Limited (NYSE:GFI - Free Report) by 366.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 579,476 shares of the company's stock after buying an additional 455,157 shares during the period. Gold Fields accounts for 2.4% of ABC Arbitrage SA's investment portfolio, making the stock its 12th biggest position. ABC Arbitrage SA owned approximately 0.06% of Gold Fields worth $12,801,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GFI. Richardson Financial Services Inc. purchased a new stake in shares of Gold Fields during the first quarter worth $26,000. Banque Cantonale Vaudoise purchased a new stake in Gold Fields during the 1st quarter worth about $44,000. GAMMA Investing LLC boosted its stake in Gold Fields by 21.0% in the 1st quarter. GAMMA Investing LLC now owns 3,742 shares of the company's stock worth $83,000 after purchasing an additional 649 shares during the period. Blue Trust Inc. grew its holdings in Gold Fields by 67.1% during the 1st quarter. Blue Trust Inc. now owns 4,053 shares of the company's stock valued at $90,000 after buying an additional 1,627 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Gold Fields by 24.1% during the 1st quarter. Parallel Advisors LLC now owns 6,695 shares of the company's stock valued at $148,000 after buying an additional 1,298 shares in the last quarter. 24.81% of the stock is currently owned by hedge funds and other institutional investors.

Gold Fields Trading Up 1.7%

Shares of GFI traded up $0.53 during mid-day trading on Thursday, reaching $31.30. The company's stock had a trading volume of 3,685,867 shares, compared to its average volume of 3,012,764. Gold Fields Limited has a 52 week low of $12.98 and a 52 week high of $31.77. The stock has a market cap of $28.01 billion, a PE ratio of 13.32, a P/E/G ratio of 0.33 and a beta of 0.42. The company's fifty day moving average price is $24.90 and its two-hundred day moving average price is $22.08. The company has a current ratio of 1.14, a quick ratio of 0.73 and a debt-to-equity ratio of 0.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GFI shares. Scotiabank raised their price objective on shares of Gold Fields from $20.00 to $23.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Wall Street Zen lowered shares of Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. HSBC reiterated a "hold" rating and issued a $21.00 price objective on shares of Gold Fields in a research report on Thursday, April 17th. Hsbc Global Res raised Gold Fields to a "hold" rating in a research note on Thursday, April 17th. Finally, Canaccord Genuity Group began coverage on Gold Fields in a research note on Monday, July 28th. They issued a "buy" rating and a $33.00 target price on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Gold Fields presently has an average rating of "Moderate Buy" and a consensus price target of $22.36.

Gold Fields 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.