Gold Fields Limited $GFI Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Gold Fields Limited by 5.5%, owning approximately 0.15% of the company after selling 80,904 shares.
• Gold Fields recently announced a semi-annual dividend increase to $0.3993 per share, marking a positive change from the previous $0.38 dividend.
• Analysts have a consensus rating of "Hold" on Gold Fields' stock, with an average target price of $27.63 amidst mixed ratings from various research firms.

Allspring Global Investments Holdings LLC lessened its holdings in shares of Gold Fields Limited (NYSE:GFI - Free Report) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,386,885 shares of the company's stock after selling 80,904 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.15% of Gold Fields worth $32,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new position in Gold Fields during the first quarter worth about $26,000. IFP Advisors Inc grew its position in Gold Fields by 672.1% during the second quarter. IFP Advisors Inc now owns 1,552 shares of the company's stock worth $37,000 after buying an additional 1,351 shares during the period. Banque Cantonale Vaudoise acquired a new position in Gold Fields during the first quarter worth about $44,000. SVB Wealth LLC acquired a new position in Gold Fields during the first quarter worth about $48,000. Finally, NewEdge Advisors LLC grew its holdings in Gold Fields by 2,152.0% in the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company's stock valued at $50,000 after purchasing an additional 2,152 shares during the last quarter. 24.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. HSBC restated a "hold" rating on shares of Gold Fields in a research report on Thursday, October 9th. Canaccord Genuity Group cut Gold Fields from a "buy" rating to a "hold" rating and set a $39.00 price target for the company. in a research report on Monday. Capital One Financial set a $32.00 price target on Gold Fields in a research report on Friday, August 22nd. BMO Capital Markets raised their price target on Gold Fields from $24.00 to $32.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. Finally, Zacks Research cut Gold Fields from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Gold Fields has a consensus rating of "Hold" and an average target price of $27.63.

Gold Fields Trading Up 4.0%

Shares of NYSE:GFI opened at $43.83 on Thursday. The stock's 50-day moving average price is $36.64 and its two-hundred day moving average price is $28.06. Gold Fields Limited has a 12-month low of $12.98 and a 12-month high of $44.15. The firm has a market cap of $39.23 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.33 and a beta of 0.49.

Gold Fields Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 12th were issued a $0.3993 dividend. This is a positive change from Gold Fields's previous semi-annual dividend of $0.38. The ex-dividend date was Friday, September 12th. This represents a dividend yield of 130.0%. Gold Fields's dividend payout ratio (DPR) is 27.23%.

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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