Allianz Asset Management GmbH Sells 640,423 Shares of Gold Fields Limited (NYSE:GFI)

Key Points

• Allianz Asset Management GmbH sold 640,423 shares of Gold Fields Limited, reducing its holdings by 50.4% to 630,948 shares, valued at approximately $13.9 million.
• Institutional investors together own 24.81% of Gold Fields, with several firms, including GAMMA Investing LLC and Bridgewater Advisors Inc., increasing their positions in the stock during the 1st quarter.
• Gold Fields has received mixed ratings from analysts, with four rating it as a hold and three issuing buy ratings, and a target price range between $19.70 and $23.00.

Allianz Asset Management GmbH decreased its holdings in Gold Fields Limited (NYSE:GFI - Free Report) by 50.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 630,948 shares of the company's stock after selling 640,423 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.07% of Gold Fields worth $13,938,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Gold Fields by 21.0% in the 1st quarter. GAMMA Investing LLC now owns 3,742 shares of the company's stock valued at $83,000 after purchasing an additional 649 shares during the last quarter. Bridgewater Advisors Inc. raised its position in Gold Fields by 4.9% in the 1st quarter. Bridgewater Advisors Inc. now owns 20,021 shares of the company's stock valued at $441,000 after purchasing an additional 934 shares during the last quarter. Parallel Advisors LLC raised its position in Gold Fields by 24.1% in the 1st quarter. Parallel Advisors LLC now owns 6,695 shares of the company's stock valued at $148,000 after purchasing an additional 1,298 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Gold Fields by 3.7% during the first quarter. SBI Securities Co. Ltd. now owns 37,971 shares of the company's stock worth $839,000 after acquiring an additional 1,357 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its position in shares of Gold Fields by 3.4% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 48,365 shares of the company's stock worth $638,000 after acquiring an additional 1,583 shares during the last quarter. Institutional investors own 24.81% of the company's stock.

Analyst Upgrades and Downgrades

GFI has been the subject of a number of recent research reports. Scotiabank boosted their target price on Gold Fields from $20.00 to $23.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. HSBC restated a "hold" rating and set a $21.00 target price on shares of Gold Fields in a research report on Thursday, April 17th. Wall Street Zen downgraded Gold Fields from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Finally, Hsbc Global Res upgraded Gold Fields to a "hold" rating in a research note on Thursday, April 17th. Four 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, the company currently has an average rating of "Hold" and an average target price of $19.70.

Gold Fields Price Performance

NYSE:GFI opened at $24.78 on Friday. The firm has a market capitalization of $22.18 billion, a price-to-earnings ratio of 10.54, a P/E/G ratio of 0.27 and a beta of 0.54. The company has a quick ratio of 0.73, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. Gold Fields Limited has a 12-month low of $12.98 and a 12-month high of $26.36. The stock's 50 day moving average price is $24.04 and its two-hundred day moving average price is $21.31.

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.

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