Engineers Gate Manager LP Boosts Holdings in Gold Fields Limited $GFI

Key Points

• Engineers Gate Manager LP increased its Gold Fields stake by 51% in the second quarter, ending with 87,455 shares valued at approximately $2.94 million. Institutional investors collectively own 24.81% of the company.
• Analyst sentiment is mixed: Gold Fields has a consensus “Hold” rating from analysts, with five Buys, three Holds and two Sells, and an average price target of $54.05.
• Gold Fields shares opened at $45.12, compared with a 52-week range of $31.11 to $61.64. The company also announced a $1.0144 dividend payable September 24 to shareholders of record September 11.

Engineers Gate Manager LP grew its stake in Gold Fields Limited (NYSE:GFI - Free Report) by 51.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,455 shares of the company's stock after purchasing an additional 29,555 shares during the quarter. Engineers Gate Manager LP's holdings in Gold Fields were worth $2,938,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GFI. Crescent Grove Advisors LLC acquired a new position in shares of Gold Fields during the first quarter valued at approximately $1,795,000. Bank of America Corp DE boosted its stake in shares of Gold Fields by 32.1% in the first quarter. Bank of America Corp DE now owns 771,791 shares of the company's stock worth $35,039,000 after acquiring an additional 187,755 shares during the last quarter. Oakmont Investment Advisors Inc. acquired a new stake in shares of Gold Fields in the second quarter worth approximately $912,000. Euro Pacific Asset Management LLC boosted its stake in shares of Gold Fields by 371.9% in the first quarter. Euro Pacific Asset Management LLC now owns 64,497 shares of the company's stock worth $3,117,000 after acquiring an additional 50,830 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Gold Fields during the second quarter worth approximately $8,033,000. Hedge funds and other institutional investors own 24.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen downgraded Gold Fields from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. JPMorgan Chase & Co. lowered their target price on shares of Gold Fields from $75.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Gold Fields in a report on Monday, August 31st. Scotiabank reduced their target price on shares of Gold Fields from $60.00 to $52.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Finally, Zacks Research downgraded shares of Gold Fields from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $54.05.

Gold Fields Stock Up 0.0%

GFI stock opened at $45.12 on Monday. Gold Fields Limited has a 1 year low of $31.11 and a 1 year high of $61.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.33 and a current ratio of 1.87. The business has a 50 day simple moving average of $39.32 and a 200-day simple moving average of $41.88.

Gold Fields Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 11th will be issued a $1.0144 dividend. This represents a yield of 450.0%. The ex-dividend date is Friday, September 11th.

About Gold Fields

Gold Fields Limited is a global gold producer headquartered in Johannesburg, South Africa. The company explores for, develops and operates gold mines, producing doré and other gold-bearing products for refining and sale. Its portfolio also includes limited by-product production, such as copper and silver, at certain operations.

Gold Fields operates mines and development projects across Africa, Australia and the Americas. Its assets include the South Deep mine in South Africa; Tarkwa and the Damang complex in Ghana; St Ives, Agnew and Granny Smith in Western Australia; Cerro Corona in Peru; and Salares Norte in Chile.

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