Mackenzie Financial Corp Purchases 350,983 Shares of Gold Fields Limited (NYSE:GFI)

Key Points

• Mackenzie Financial Corp increased its stake in Gold Fields Limited by 47.6% in Q1, now holding 1,088,180 shares valued at approximately $24 million.
• Several institutional investors, including Massachusetts Financial Services and Marshall Wace LLP, also significantly boosted their stakes in Gold Fields during recent quarters.
• Gold Fields' stock has a consensus rating of "Moderate Buy" with an average target price of $22.36, despite a recent stock price decline of 3.4%.

Mackenzie Financial Corp lifted its position in Gold Fields Limited (NYSE:GFI - Free Report) by 47.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,088,180 shares of the company's stock after purchasing an additional 350,983 shares during the quarter. Mackenzie Financial Corp owned 0.12% of Gold Fields worth $24,038,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC boosted its holdings in shares of Gold Fields by 567.8% in the 1st quarter. LPL Financial LLC now owns 185,592 shares of the company's stock worth $4,100,000 after purchasing an additional 157,801 shares in the last quarter. Resolute Wealth Strategies LLC purchased a new stake in Gold Fields during the 1st quarter valued at about $490,000. TD Asset Management Inc boosted its holdings in Gold Fields by 6.8% during the 1st quarter. TD Asset Management Inc now owns 303,250 shares of the company's stock valued at $6,699,000 after acquiring an additional 19,372 shares during the period. Cetera Investment Advisers boosted its holdings in Gold Fields by 322.8% during the 1st quarter. Cetera Investment Advisers now owns 77,159 shares of the company's stock valued at $1,704,000 after acquiring an additional 58,908 shares during the period. Finally, Richardson Financial Services Inc. purchased a new stake in Gold Fields during the 1st quarter valued at about $26,000. 24.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on GFI. HSBC restated a "hold" rating and set a $21.00 target price on shares of Gold Fields in a report on Thursday, April 17th. Wall Street Zen cut Gold Fields from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Hsbc Global Res upgraded Gold Fields to a "hold" rating in a report on Thursday, April 17th. Scotiabank upped their price target on Gold Fields from $20.00 to $23.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Finally, Canaccord Genuity Group started coverage on Gold Fields in a research report on Monday, July 28th. They set a "buy" rating and a $33.00 price target for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Gold Fields currently has an average rating of "Moderate Buy" and a consensus price target of $22.36.

Gold Fields Trading Up 5.0%

GFI traded up $1.23 during midday trading on Friday, reaching $25.59. 3,739,693 shares of the company's stock traded hands, compared to its average volume of 2,475,285. The firm has a fifty day moving average of $24.31 and a two-hundred day moving average of $21.71. The stock has a market capitalization of $22.90 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 0.28 and a beta of 0.42. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 0.73. Gold Fields Limited has a 52 week low of $12.98 and a 52 week high of $26.36.

Gold Fields Company 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.