USS Investment Management Ltd Decreases Stock Position in 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 lowered its stake 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 filing with the Securities and Exchange Commission (SEC). The fund owned 1,824,346 shares of the company's stock after selling 197,683 shares during the quarter. USS Investment Management Ltd owned about 0.20% of Gold Fields worth $40,291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new position in shares of Gold Fields during the 1st quarter valued at about $26,000. Banque Cantonale Vaudoise acquired a new position in shares of Gold Fields during the 1st quarter valued at about $44,000. SVB Wealth LLC acquired a new position in shares of Gold Fields during the 1st quarter valued at about $48,000. NewEdge Advisors LLC increased its stake in shares of Gold Fields by 2,152.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,252 shares of the company's stock valued at $50,000 after acquiring an additional 2,152 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Gold Fields by 21.0% during the 1st quarter. GAMMA Investing LLC now owns 3,742 shares of the company's stock valued at $83,000 after acquiring an additional 649 shares during the last quarter. Institutional investors and hedge funds own 24.81% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on GFI shares. Capital One Financial set a $32.00 price objective on shares of Gold Fields in a research note on Friday, August 22nd. BMO Capital Markets increased their target price on shares of Gold Fields from $24.00 to $32.00 and gave the stock a "market perform" rating in a research report on Monday, August 25th. Canaccord Genuity Group initiated coverage on shares of Gold Fields in a research report on Monday, July 28th. They set a "buy" rating and a $33.00 target price for the company. Finally, Wall Street Zen downgraded shares of Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 1st. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.11.

Gold Fields Stock Down 0.2%

NYSE GFI traded down $0.06 on Friday, reaching $37.56. The company had a trading volume of 2,381,687 shares, compared to its average volume of 3,407,046. The firm has a market capitalization of $33.62 billion, a PE ratio of 15.98, a P/E/G ratio of 0.40 and a beta of 0.47. Gold Fields Limited has a 1 year low of $12.98 and a 1 year high of $38.06. The firm has a 50-day moving average of $29.03 and a 200-day moving average of $24.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.89 and a quick ratio of 0.73.

Gold Fields Increases Dividend

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

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.