Bank of New York Mellon Corp Acquires 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 grew its position in Gold Fields Limited (NYSE:GFI - Free Report) by 42.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,670 shares of the company's stock after purchasing 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.

Several other institutional investors and hedge funds also recently made changes to their positions in GFI. GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 649 shares during the last quarter. Blue Trust Inc. boosted its stake 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 purchasing an additional 1,627 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Gold Fields during the 4th quarter valued at about $139,000. Parallel Advisors LLC boosted its stake in shares of Gold Fields by 24.1% in the 1st 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. Finally, Hsbc Holdings PLC purchased a new position in shares of Gold Fields in the 4th quarter worth approximately $155,000. Institutional investors and hedge funds own 24.81% of the company's stock.

Gold Fields Price Performance

Gold Fields stock traded up $1.23 during mid-day trading on Friday, hitting $25.59. The stock had a trading volume of 3,739,693 shares, compared to its average volume of 2,475,285. The firm has a market capitalization of $22.90 billion, a P/E ratio of 10.89, a P/E/G ratio of 0.28 and a beta of 0.42. Gold Fields Limited has a one year low of $12.98 and a one year high of $26.36. The company has a current ratio of 1.14, a quick ratio of 0.73 and a debt-to-equity ratio of 0.40. The firm's 50 day moving average is $24.31 and its 200 day moving average is $21.71.

Analyst Upgrades and Downgrades

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