USS Investment Management Ltd Sells 197,683 Shares of Gold Fields Limited $GFI

Key Points

• USS Investment Management Ltd has reduced its stake in Gold Fields Limited by 9.8% to approximately 1.82 million shares, valued at about $40.29 million.
• Gold Fields announced a boost in its semi-annual dividend to $0.3993, yielding 130.0%, with the payment set for September 25th to stockholders of record.
• Several large investors, including Deutsche Bank AG and Amundi, have increased their positions in Gold Fields during the first quarter, reflecting continued institutional interest in the stock.

USS Investment Management Ltd reduced its position in shares of Gold Fields Limited (NYSE:GFI - Free Report) by 9.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,824,346 shares of the company's stock after selling 197,683 shares during the period. USS Investment Management Ltd owned 0.20% of Gold Fields worth $40,291,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GFI. GAMMA Investing LLC lifted its holdings in Gold Fields by 21.0% in the first quarter. GAMMA Investing LLC now owns 3,742 shares of the company's stock worth $83,000 after buying an additional 649 shares during the period. Bridgewater Advisors Inc. lifted its holdings in Gold Fields by 4.9% in the first quarter. Bridgewater Advisors Inc. now owns 20,021 shares of the company's stock worth $441,000 after buying an additional 934 shares during the period. Richardson Financial Services Inc. purchased a new stake in Gold Fields in the first quarter worth about $26,000. Parallel Advisors LLC lifted its holdings in Gold Fields by 24.1% in the first quarter. Parallel Advisors LLC now owns 6,695 shares of the company's stock worth $148,000 after buying an additional 1,298 shares during the period. Finally, SBI Securities Co. Ltd. lifted its holdings in Gold Fields by 3.7% in the first quarter. SBI Securities Co. Ltd. now owns 37,971 shares of the company's stock worth $839,000 after buying an additional 1,357 shares during the period. 24.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GFI has been the subject of a number of analyst reports. Canaccord Genuity Group initiated coverage on shares of Gold Fields in a research note on Monday, July 28th. They set a "buy" rating and a $33.00 target price for the company. Capital One Financial set a $32.00 price objective on Gold Fields in a research report on Friday, August 22nd. Wall Street Zen lowered Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 1st. Finally, BMO Capital Markets raised their price objective on Gold Fields from $24.00 to $32.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Gold Fields presently has an average rating of "Hold" and an average price target of $25.11.

Gold Fields Stock Performance

NYSE:GFI traded up $1.30 during trading hours on Wednesday, reaching $37.03. The company had a trading volume of 3,802,962 shares, compared to its average volume of 3,416,594. The company has a current ratio of 1.89, a quick ratio of 0.73 and a debt-to-equity ratio of 0.40. Gold Fields Limited has a 52 week low of $12.98 and a 52 week high of $37.68. The firm has a market cap of $33.14 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 0.38 and a beta of 0.47. The firm's 50 day moving average price is $28.76 and its 200-day moving average price is $24.48.

Gold Fields Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 12th will be given a dividend of $0.3993 per share. This represents a dividend yield of 130.0%. The ex-dividend date of this dividend is Friday, September 12th. This is a positive change from Gold Fields's previous semi-annual dividend of $0.38. Gold Fields's payout ratio is presently 26.81%.

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.