Gabelli Funds LLC Lowers Position in Gold Fields Limited $GFI

Key Points

• Gabelli Funds LLC decreased its stake in Gold Fields Limited (NYSE:GFI) by 5.6% to 479,100 shares after selling 28,600 shares in the first quarter.
• The company announced an increase in its semi-annual dividend to $0.3993, which is greater than the previous dividend of $0.38, reflecting a yield of 130.0%.
• Research analysts have upgraded Gold Fields, with BMO Capital Markets increasing their price target from $24.00 to $32.00, and Wall Street Zen rating the stock as a "strong-buy."

Gabelli Funds LLC decreased its position in shares of Gold Fields Limited (NYSE:GFI - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 479,100 shares of the company's stock after selling 28,600 shares during the quarter. Gabelli Funds LLC owned approximately 0.05% of Gold Fields worth $10,583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GFI. Raymond James Financial Inc. bought a new position in shares of Gold Fields during the 4th quarter worth $362,000. Mariner LLC grew its stake in shares of Gold Fields by 34.3% during the 4th quarter. Mariner LLC now owns 20,375 shares of the company's stock worth $269,000 after acquiring an additional 5,204 shares during the period. First Trust Advisors LP grew its stake in shares of Gold Fields by 9.4% during the 4th quarter. First Trust Advisors LP now owns 27,944 shares of the company's stock worth $369,000 after acquiring an additional 2,412 shares during the period. Hsbc Holdings PLC bought a new position in shares of Gold Fields during the 4th quarter worth $155,000. Finally, Northern Trust Corp grew its stake in shares of Gold Fields by 258.4% during the 4th quarter. Northern Trust Corp now owns 400,680 shares of the company's stock worth $5,289,000 after acquiring an additional 288,887 shares during the period. Institutional investors own 24.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GFI shares. Capital One Financial set a $32.00 price target on Gold Fields in a research note on Friday, August 22nd. Wall Street Zen downgraded Gold Fields from a "strong-buy" rating to a "buy" rating in a research note on Monday. BMO Capital Markets raised their target price on Gold Fields from $24.00 to $32.00 and gave the stock a "market perform" rating in a research note on Monday, August 25th. Finally, Canaccord Genuity Group assumed coverage on Gold Fields in a research note on Monday, July 28th. They issued a "buy" rating and a $33.00 target price for the company. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $25.11.

Gold Fields Price Performance

NYSE GFI traded up $1.44 during trading hours on Monday, hitting $33.56. The company had a trading volume of 4,303,134 shares, compared to its average volume of 3,347,894. Gold Fields Limited has a 52 week low of $12.98 and a 52 week high of $33.57. The firm has a 50 day simple moving average of $26.99 and a 200 day simple moving average of $23.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.73 and a current ratio of 1.89. The firm has a market capitalization of $30.04 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.36 and a beta of 0.47.

Gold Fields Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 12th will be issued a $0.3993 dividend. This represents a dividend yield of 130.0%. The ex-dividend date of this dividend is Friday, September 12th. This is an increase from Gold Fields's previous semi-annual dividend of $0.38. Gold Fields's payout ratio is 26.81%.

Gold Fields Profile

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.