Orbis Allan Gray Ltd Lowers Holdings in Gold Fields Limited $GFI

Key Points

• Orbis Allan Gray Ltd has reduced its stake in Gold Fields Limited by 30.4%, owning 3,494,861 shares after selling 1,529,362 shares during the first quarter.
• Gold Fields recently announced a semi-annual dividend of $0.3993, which is an increase from the previous dividend of $0.38 and represents a yield of 130.0%.
• Wall Street analysts have upgraded their ratings for Gold Fields, with targets ranging from $25.11 to $33.00, reflecting strong growth expectations for the stock.

Orbis Allan Gray Ltd lessened its position in shares of Gold Fields Limited (NYSE:GFI - Free Report) by 30.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,494,861 shares of the company's stock after selling 1,529,362 shares during the quarter. Orbis Allan Gray Ltd owned 0.39% of Gold Fields worth $77,201,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GFI. Raymond James Financial Inc. purchased a new stake in shares of Gold Fields in the fourth quarter worth about $362,000. Mariner LLC raised its holdings in Gold Fields by 34.3% in the 4th quarter. Mariner LLC now owns 20,375 shares of the company's stock worth $269,000 after purchasing an additional 5,204 shares during the period. First Trust Advisors LP raised its holdings in Gold Fields by 9.4% in the 4th quarter. First Trust Advisors LP now owns 27,944 shares of the company's stock worth $369,000 after purchasing an additional 2,412 shares during the period. Hsbc Holdings PLC acquired a new position in Gold Fields in the 4th quarter worth about $155,000. Finally, Northern Trust Corp raised its holdings in Gold Fields by 258.4% in the 4th quarter. Northern Trust Corp now owns 400,680 shares of the company's stock worth $5,289,000 after purchasing an additional 288,887 shares during the period. Hedge funds and other institutional investors own 24.81% of the company's stock.

Analysts Set New Price Targets

GFI has been the subject of a number of analyst reports. BMO Capital Markets upped their price target on Gold Fields from $24.00 to $32.00 and gave the stock a "market perform" rating in a report on Monday, August 25th. Wall Street Zen cut Gold Fields from a "strong-buy" rating to a "buy" rating in a report on Monday. Capital One Financial set a $32.00 target price on Gold Fields in a report on Friday, August 22nd. Finally, Canaccord Genuity Group began coverage on Gold Fields in a report on Monday, July 28th. They set a "buy" rating and a $33.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Gold Fields currently has a consensus rating of "Hold" and a consensus target price of $25.11.

Gold Fields Price Performance

Shares of NYSE:GFI traded up $0.60 during midday trading on Wednesday, hitting $34.99. The company had a trading volume of 3,724,930 shares, compared to its average volume of 3,407,688. Gold Fields Limited has a twelve month low of $12.98 and a twelve month high of $35.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.89 and a quick ratio of 0.73. The stock has a market cap of $31.32 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.36 and a beta of 0.47. The business's 50-day simple moving average is $27.38 and its 200-day simple moving average is $23.84.

Gold Fields Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 12th will be issued a $0.3993 dividend. This is a boost from Gold Fields's previous semi-annual dividend of $0.38. This represents a dividend yield of 130.0%. The ex-dividend date of this dividend is Friday, September 12th. Gold Fields's payout ratio is 26.38%.

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.