Hsbc Holdings PLC Sells 36,268 Shares of Gold Fields Limited $GFI

Key Points

• Hsbc Holdings PLC cut its stake in Gold Fields Limited by 31.5% in the first quarter, selling 36,268 shares and leaving it with 78,884 shares worth about $3.58 million.
• Several other institutional investors also adjusted positions in GFI, and overall 24.81% of the stock is owned by hedge funds and other institutions.
• Analyst sentiment is mixed: the stock currently has a Hold consensus rating with a $47.75 price target, while recent moves included both upgrades and downgrades from firms like Scotiabank, Zacks Research, and RBC.

Hsbc Holdings PLC lowered its position in shares of Gold Fields Limited (NYSE:GFI - Free Report) by 31.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,884 shares of the company's stock after selling 36,268 shares during the quarter. Hsbc Holdings PLC's holdings in Gold Fields were worth $3,578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC increased its stake in shares of Gold Fields by 20.3% in the 1st quarter. Millennium Management LLC now owns 191,482 shares of the company's stock worth $4,230,000 after acquiring an additional 32,343 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Gold Fields by 2,152.0% during the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company's stock worth $50,000 after acquiring an additional 2,152 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Gold Fields during the first quarter worth about $236,000. Jones Financial Companies Lllp bought a new stake in Gold Fields during the first quarter worth about $268,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Gold Fields by 183.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,935 shares of the company's stock worth $69,000 after purchasing an additional 1,900 shares during the period. 24.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GFI. Scotiabank decreased their target price on shares of Gold Fields from $60.00 to $52.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Zacks Research downgraded Gold Fields from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Canaccord Genuity Group raised Gold Fields from a "hold" rating to a "buy" rating and raised their price objective for the company from $40.25 to $57.25 in a research report on Friday, April 24th. Wall Street Zen raised Gold Fields from a "hold" rating to a "buy" rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada lowered their price objective on Gold Fields from $50.00 to $49.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $47.75.

Gold Fields Stock Performance

Shares of NYSE GFI opened at $32.68 on Friday. The firm's 50 day moving average price is $35.91 and its 200-day moving average price is $44.41. Gold Fields Limited has a 52-week low of $23.86 and a 52-week high of $61.64. The company has a current ratio of 1.79, a quick ratio of 1.33 and a debt-to-equity ratio of 0.34.

Gold Fields Company Profile

Gold Fields NYSE: GFI is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company's core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.

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