Gold Fields Limited $GFI Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Gold Fields stake by 57.7% in the third quarter, selling 137,899 shares and retaining 101,245 shares valued at approximately $3.66 million.
• Other major institutions, including Allspring, Lazard, Royal Bank of Canada and Bank of America, increased their Gold Fields holdings. Institutional investors collectively own 24.81% of the company.
• Gold Fields shares opened at $36.77, below the analyst consensus target of $52.21. Analysts’ overall rating is “Hold,” with five Buy, two Hold and two Sell ratings.

Assenagon Asset Management S.A. lessened its stake in shares of Gold Fields Limited (NYSE:GFI - Free Report) by 57.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 101,245 shares of the company's stock after selling 137,899 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Gold Fields were worth $3,657,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Gold Fields by 62.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,371,649 shares of the company's stock valued at $114,147,000 after acquiring an additional 910,580 shares during the period. Lazard Asset Management LLC lifted its holdings in Gold Fields by 8.5% during the 1st quarter. Lazard Asset Management LLC now owns 1,280,861 shares of the company's stock worth $58,151,000 after purchasing an additional 99,983 shares during the last quarter. Royal Bank of Canada increased its position in Gold Fields by 2.5% during the 1st quarter. Royal Bank of Canada now owns 1,061,295 shares of the company's stock worth $48,182,000 after buying an additional 25,635 shares during the period. Bank of America Corp DE increased its holdings in shares of Gold Fields by 32.1% during the first quarter. Bank of America Corp DE now owns 771,791 shares of the company's stock worth $35,039,000 after purchasing an additional 187,755 shares during the period. Finally, Groupe la Francaise grew its position in Gold Fields by 2.3% during the second quarter. Groupe la Francaise now owns 585,000 shares of the company's stock worth $19,667,000 after buying an additional 13,000 shares in the last quarter. Institutional investors and hedge funds own 24.81% of the company's stock.

Gold Fields Price Performance

Shares of NYSE GFI opened at $36.77 on Thursday. Gold Fields Limited has a 12 month low of $31.11 and a 12 month high of $61.64. The stock has a 50-day moving average price of $41.46 and a two-hundred day moving average price of $39.92.

Gold Fields Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 11th were issued a dividend of $1.0144 per share. The ex-dividend date was Friday, September 11th. This represents a dividend yield of 450.0%.

Analyst Ratings Changes

A number of research firms have commented on GFI. Royal Bank Of Canada raised their price objective on Gold Fields from $49.00 to $54.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 16th. Scotiabank cut their target price on 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. Wall Street Zen downgraded Gold Fields from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Weiss Ratings reissued a "buy (b-)" rating on shares of Gold Fields in a report on Monday, August 31st. Finally, Zacks Research lowered Gold Fields from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $52.21.

Gold Fields Profile

Gold Fields Limited NYSE: GFI is a global gold producer headquartered in Johannesburg, South Africa. The company explores for, develops and operates gold mines, producing doré and refined gold for sale to international markets. Its activities include mine development, underground and open-pit mining, ore processing and exploration for additional mineral resources.

Gold Fields has a history dating to 1887 and has grown into one of the world's major gold-mining companies through acquisitions, partnerships and the development of its own projects.

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