Assenagon Asset Management S.A. Acquires Shares of 239,144 Gold Fields Limited $GFI

Key Points

• Assenagon Asset Management initiated a position in Gold Fields by purchasing 239,144 shares valued at approximately $8.0 million. Other institutions, including Goldman Sachs, Man Group, and AQR Capital, also increased their holdings.
• Analyst sentiment remains mixed: Gold Fields has an average rating of “Hold” and an average price target of $47.75, with recent target cuts from JPMorgan, Scotiabank, and RBC offset by a rating upgrade from Wall Street Zen.
• Gold Fields shares opened at $40.34, with a 52-week range of $29.24 to $61.64; institutional investors own 24.81% of the company.

Assenagon Asset Management S.A. bought a new position in shares of Gold Fields Limited (NYSE:GFI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 239,144 shares of the company's stock, valued at approximately $8,033,000.

Several other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in Gold Fields by 69.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,384,047 shares of the company's stock valued at $191,407,000 after buying an additional 1,794,124 shares during the period. Man Group plc lifted its position in Gold Fields by 63.7% during the 4th quarter. Man Group plc now owns 3,650,799 shares of the company's stock valued at $159,394,000 after acquiring an additional 1,421,121 shares during the period. AQR Capital Management LLC boosted its stake in Gold Fields by 211.0% during the fourth quarter. AQR Capital Management LLC now owns 1,791,823 shares of the company's stock worth $78,231,000 after acquiring an additional 1,215,647 shares in the last quarter. Van ECK Associates Corp boosted its stake in Gold Fields by 3.4% during the fourth quarter. Van ECK Associates Corp now owns 35,483,903 shares of the company's stock worth $1,549,227,000 after acquiring an additional 1,180,634 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Gold Fields in the third quarter worth about $42,963,000. Institutional investors own 24.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Gold Fields from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, July 16th. Weiss Ratings cut Gold Fields from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, June 3rd. Scotiabank cut their price target on Gold Fields from $60.00 to $52.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Wall Street Zen raised Gold Fields from a "hold" rating to a "buy" rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada lowered their price objective on Gold Fields from $50.00 to $49.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Gold Fields currently has an average rating of "Hold" and an average target price of $47.75.

Gold Fields Stock Down 1.9%

Shares of NYSE:GFI opened at $40.34 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.79 and a debt-to-equity ratio of 0.34. Gold Fields Limited has a 1 year low of $29.24 and a 1 year high of $61.64. The stock's fifty day moving average price is $34.95 and its 200-day moving average price is $43.30.

Gold Fields Profile

Gold Fields NYSE: GFI is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company's core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.

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