Gold Fields (NYSE:GFI) Hits New 1-Year High - Time to Buy?

Key Points

• Gold Fields Limited achieved a new 52-week high of $38.23, marking a significant increase in its stock price compared to the previous close of $37.60.
• Several brokerages have raised their price targets for Gold Fields, with BMO Capital Markets and Capital One Financial both setting target prices of $32.00.
• The company announced a semi-annual dividend increase to $0.3993, which translates to an impressive yield of 130.0%.

Gold Fields Limited (NYSE:GFI - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $38.23 and last traded at $38.21, with a volume of 864713 shares traded. The stock had previously closed at $37.60.

Analysts Set New Price Targets

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

Gold Fields Stock Up 3.5%

The company has a market cap of $34.82 billion, a PE ratio of 16.55, a P/E/G ratio of 0.40 and a beta of 0.47. The company's 50 day moving average is $29.30 and its 200 day moving average is $24.82. 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 Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 12th will be paid a $0.3993 dividend. The ex-dividend date of this dividend 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 payout ratio is 27.23%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bridgewater Advisors Inc. grew its position in shares of Gold Fields by 1.8% in the 2nd quarter. Bridgewater Advisors Inc. now owns 20,375 shares of the company's stock worth $516,000 after buying an additional 354 shares during the last quarter. Allworth Financial LP boosted its stake in Gold Fields by 31.8% in the 2nd quarter. Allworth Financial LP now owns 2,007 shares of the company's stock worth $48,000 after purchasing an additional 484 shares in the last quarter. Signaturefd LLC boosted its stake in Gold Fields by 6.0% in the 2nd quarter. Signaturefd LLC now owns 9,714 shares of the company's stock worth $230,000 after purchasing an additional 546 shares in the last quarter. Assetmark Inc. boosted its stake in Gold Fields by 34.2% in the 2nd quarter. Assetmark Inc. now owns 2,189 shares of the company's stock worth $52,000 after purchasing an additional 558 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Gold Fields by 21.0% in the 1st quarter. GAMMA Investing LLC now owns 3,742 shares of the company's stock worth $83,000 after purchasing an additional 649 shares in the last quarter. Hedge funds and other institutional investors own 24.81% of the company's stock.

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.

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