Janney Montgomery Scott LLC Purchases 406,330 Shares of Gold Fields Limited $GFI

Key Points

• Janney Montgomery Scott LLC significantly increased its holdings in Gold Fields Limited by 406,330 shares, bringing their total ownership to 415,505 shares valued at approximately $9.8 million.
• Gold Fields recently declared a dividend increase to $0.3993 per share, marking a positive change from the previous dividend of $0.38, which illustrates the company's strong financial performance.
• Several analysts have expressed positive outlooks for Gold Fields, with Canaccord Genuity setting a target price of $33.00, while BMO Capital Markets raised its target from $24.00 to $32.00.

Janney Montgomery Scott LLC boosted its position in Gold Fields Limited (NYSE:GFI - Free Report) by 4,428.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 415,505 shares of the company's stock after acquiring an additional 406,330 shares during the period. Janney Montgomery Scott LLC's holdings in Gold Fields were worth $9,835,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GFI. Two Sigma Investments LP boosted its holdings in Gold Fields by 61.1% in the fourth quarter. Two Sigma Investments LP now owns 64,256 shares of the company's stock valued at $848,000 after acquiring an additional 24,365 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Gold Fields by 2,572.5% in the first quarter. GAMMA Investing LLC now owns 82,661 shares of the company's stock valued at $1,826,000 after acquiring an additional 79,568 shares during the last quarter. Park Avenue Securities LLC bought a new position in Gold Fields in the first quarter valued at about $1,096,000. Range Financial Group LLC boosted its holdings in Gold Fields by 52.3% in the first quarter. Range Financial Group LLC now owns 88,813 shares of the company's stock valued at $1,962,000 after acquiring an additional 30,485 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Gold Fields by 105.7% in the first quarter. SG Americas Securities LLC now owns 180,956 shares of the company's stock valued at $3,997,000 after acquiring an additional 92,966 shares during the last quarter. Institutional investors own 24.81% of the company's stock.

Wall Street Analysts Forecast Growth

GFI has been the topic of a number of recent analyst reports. Canaccord Genuity Group initiated coverage on Gold Fields in a report on Monday, July 28th. They set a "buy" rating and a $33.00 target price on the stock. 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 report on Monday, August 25th. Wall Street Zen upgraded Gold Fields from a "buy" rating to a "strong-buy" rating in a report on Friday, September 26th. Weiss Ratings restated a "buy (b)" rating on shares of Gold Fields in a report on Saturday, September 27th. Finally, Capital One Financial set a $32.00 target price on Gold Fields in a report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $26.63.

Gold Fields Stock Performance

Shares of Gold Fields stock opened at $42.32 on Friday. The business's 50 day simple moving average is $34.15 and its 200 day simple moving average is $26.93. Gold Fields Limited has a 52-week low of $12.98 and a 52-week high of $43.13. The firm has a market cap of $37.88 billion, a PE ratio of 18.01, a P/E/G ratio of 0.43 and a beta of 0.49.

Gold Fields Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, September 12th were given a dividend of $0.3993 per share. This is a positive change from Gold Fields's previous semi-annual dividend of $0.38. The ex-dividend date of this dividend was Friday, September 12th. This represents a dividend yield of 130.0%. Gold Fields's payout ratio is presently 27.23%.

About Gold Fields

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.

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