Connor Clark & Lunn Investment Management Ltd. Buys 585,950 Shares of Gold Fields Limited (NYSE:GFI)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Gold Fields Limited by 169.4%, now holding 931,777 shares worth approximately $20.58 million.
• Several institutional investors have also increased their holdings, with Massachusetts Financial Services and Deutsche Bank AG significantly growing their shares during the first quarter.
• Gold Fields has received mixed analyst ratings, with target prices ranging from $21.00 to $33.00, reflecting a general outlook of "Moderate Buy" among analysts.

Connor Clark & Lunn Investment Management Ltd. grew its stake in Gold Fields Limited (NYSE:GFI - Free Report) by 169.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 931,777 shares of the company's stock after acquiring an additional 585,950 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Gold Fields worth $20,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GFI. Massachusetts Financial Services Co. MA grew its holdings in Gold Fields by 1.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,507,327 shares of the company's stock valued at $99,567,000 after purchasing an additional 45,171 shares during the period. Deutsche Bank AG grew its holdings in shares of Gold Fields by 21.5% in the 1st quarter. Deutsche Bank AG now owns 2,642,663 shares of the company's stock valued at $58,376,000 after buying an additional 467,579 shares during the period. Marshall Wace LLP increased its position in shares of Gold Fields by 1,594.7% in the 4th quarter. Marshall Wace LLP now owns 2,114,631 shares of the company's stock valued at $27,913,000 after buying an additional 1,989,849 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Gold Fields by 153.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,486,280 shares of the company's stock worth $32,832,000 after buying an additional 900,317 shares during the period. Finally, Man Group plc lifted its holdings in Gold Fields by 119.9% during the fourth quarter. Man Group plc now owns 1,417,329 shares of the company's stock worth $18,709,000 after acquiring an additional 772,928 shares in the last quarter. 24.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

GFI has been the topic of a number of research analyst reports. Canaccord Genuity Group started coverage on Gold Fields in a research report on Monday, July 28th. They set a "buy" rating and a $33.00 price target on the stock. Scotiabank increased their target price on Gold Fields from $20.00 to $23.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. HSBC reaffirmed a "hold" rating and issued a $21.00 price target on shares of Gold Fields in a research note on Thursday, April 17th. Hsbc Global Res raised shares of Gold Fields to a "hold" rating in a research report on Thursday, April 17th. Finally, Wall Street Zen cut shares of Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Gold Fields has an average rating of "Moderate Buy" and an average target price of $22.36.

Gold Fields Stock Performance

Shares of GFI stock opened at $31.28 on Friday. Gold Fields Limited has a 12 month low of $12.98 and a 12 month high of $31.77. The company's fifty day simple moving average is $25.07 and its 200-day simple moving average is $22.22. The firm has a market cap of $28.00 billion, a PE ratio of 13.31, a P/E/G ratio of 0.34 and a beta of 0.42. The company has a quick ratio of 0.73, a current ratio of 1.14 and a debt-to-equity ratio of 0.40.

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.

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