Allspring Global Investments Holdings LLC Buys 111,360 Shares of Gold Fields Limited $GFI

Key Points

• Allspring increased its Gold Fields stake by 5.4% in the third quarter, buying 111,360 shares and ending the period with 2,156,722 shares valued at about $77.2 million.
• Other institutional investors also reported purchases or increased positions; institutions and hedge funds collectively owned 24.81% of Gold Fields.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $52.46. Gold Fields shares opened at $41.09 on Tuesday.

Allspring Global Investments Holdings LLC raised its stake in Gold Fields Limited (NYSE:GFI - Free Report) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,156,722 shares of the company's stock after buying an additional 111,360 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.24% of Gold Fields worth $77,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GFI. Euro Pacific Asset Management LLC grew its position in shares of Gold Fields by 0.5% in the third quarter. Euro Pacific Asset Management LLC now owns 66,437 shares of the company's stock valued at $2,400,000 after purchasing an additional 332 shares during the last quarter. J. Derek Lewis & Associates Inc. acquired a new stake in Gold Fields during the 3rd quarter valued at $193,000. Ethic Inc. boosted its stake in shares of Gold Fields by 25.6% during the third quarter. Ethic Inc. now owns 13,523 shares of the company's stock valued at $488,000 after acquiring an additional 2,752 shares during the last quarter. Parallel Advisors LLC boosted its position in Gold Fields by 29.1% during the third quarter. Parallel Advisors LLC now owns 10,914 shares of the company's stock worth $394,000 after acquiring an additional 2,458 shares during the last quarter. Finally, Asset One Wealth Management LLC boosted its position in Gold Fields by 4.5% during the third quarter. Asset One Wealth Management LLC now owns 14,959 shares of the company's stock worth $540,000 after acquiring an additional 639 shares during the last quarter. 24.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GFI has been the subject of several recent analyst reports. Royal Bank Of Canada lifted their price target on Gold Fields from $49.00 to $54.00 and gave the company an "outperform" rating in a report on Wednesday, September 16th. JPMorgan Chase & Co. dropped their price target on shares of Gold Fields from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. Wall Street Zen downgraded shares of Gold Fields from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. RBC Dominion Securities set a $54.00 price target on Gold Fields and gave the stock an "outperform" rating in a research note on Thursday, October 22nd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Gold Fields in a report on Monday, August 31st. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $52.46.

Gold Fields Stock Up 4.9%

Shares of GFI stock opened at $41.09 on Tuesday. The company's 50-day simple moving average is $39.14 and its 200-day simple moving average is $42.34. Gold Fields Limited has a one year low of $31.11 and a one year high of $61.64.

Gold Fields Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 11th were given a dividend of $1.0144 per share. The ex-dividend date was Friday, September 11th. This represents a dividend yield of 450.0%.

Gold Fields Company Profile

Gold Fields Limited is a South Africa-based gold mining company. Its business includes the exploration, development, extraction and processing of mineral resources, with gold as its primary product and copper produced at some operations.

The company operates mines and projects in Australia, Ghana, Peru, South Africa and Chile. Its activities span the full mining cycle, from evaluating and developing deposits to operating mines and processing ore.

Gold Fields was formed in 1998 through the combination of Gold Fields of South Africa and Gencor's gold assets.

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