Bank of New York Mellon Corp Buys 19,228 Shares of Gold Fields Limited (NYSE:GFI)

Key Points

• Bank of New York Mellon Corp increased its stake in Gold Fields Limited (NYSE:GFI) by 42.3%, owning 64,670 shares valued at approximately $1.43 million after acquiring an additional 19,228 shares in the first quarter.
• Several other institutional investors also raised their holdings in Gold Fields, with 24.81% of the stock now owned by hedge funds and large investment firms.
• Equities research analysts have a consensus rating of "Moderate Buy" for Gold Fields, with price targets ranging from $21.00 to $33.00.

Bank of New York Mellon Corp lifted its stake in Gold Fields Limited (NYSE:GFI - Free Report) by 42.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,670 shares of the company's stock after acquiring an additional 19,228 shares during the quarter. Bank of New York Mellon Corp's holdings in Gold Fields were worth $1,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Gold Fields by 21.0% in the first quarter. GAMMA Investing LLC now owns 3,742 shares of the company's stock valued at $83,000 after acquiring an additional 649 shares during the last quarter. Parallel Advisors LLC increased its position in Gold Fields by 24.1% during the first quarter. Parallel Advisors LLC now owns 6,695 shares of the company's stock worth $148,000 after buying an additional 1,298 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its position in shares of Gold Fields by 3.4% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 48,365 shares of the company's stock valued at $638,000 after purchasing an additional 1,583 shares during the last quarter. Blue Trust Inc. grew its position in shares of Gold Fields by 67.1% in the first quarter. Blue Trust Inc. now owns 4,053 shares of the company's stock valued at $90,000 after purchasing an additional 1,627 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Gold Fields by 11.0% in the fourth quarter. Ameriprise Financial Inc. now owns 21,349 shares of the company's stock valued at $282,000 after purchasing an additional 2,111 shares during the last quarter. Institutional investors and hedge funds own 24.81% of the company's stock.

Gold Fields Trading Up 5.0%

Gold Fields stock traded up $1.23 during trading hours on Friday, reaching $25.59. 3,739,693 shares of the company's stock were exchanged, compared to its average volume of 3,406,716. The company has a quick ratio of 0.73, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The firm's 50 day simple moving average is $24.26 and its 200 day simple moving average is $21.59. Gold Fields Limited has a twelve month low of $12.98 and a twelve month high of $26.36. The firm has a market capitalization of $22.90 billion, a PE ratio of 10.89, a PEG ratio of 0.26 and a beta of 0.54.

Analysts Set New Price Targets

GFI has been the subject of several recent research reports. Canaccord Genuity Group initiated coverage on Gold Fields in a research note on Monday. They issued a "buy" rating and a $33.00 price target for the company. HSBC restated a "hold" rating and set a $21.00 target price on shares of Gold Fields in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of Gold Fields from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Hsbc Global Res upgraded shares of Gold Fields to a "hold" rating in a report on Thursday, April 17th. Finally, Scotiabank raised 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.36.

About Gold Fields

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.