Gold Fields (NYSE:GFI) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Gold Fields has received a rating upgrade from "buy" to "strong-buy" by Wall Street Zen, indicating a positive outlook from analysts.
• Canaccord Genuity issued a "buy" rating for Gold Fields with a price target of $33.00, showing confidence in the company's future performance.
• Gold Fields shares opened at $31.15 recently, reflecting a significant increase of 2.9% as investors respond to the positive ratings and market conditions.

Wall Street Zen upgraded shares of Gold Fields (NYSE:GFI - Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday morning.

Separately, Canaccord Genuity Group started coverage on shares of Gold Fields in a research note on Monday, July 28th. They set a "buy" rating and a $33.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $25.11.

Gold Fields Price Performance

Shares of GFI stock traded up $1.44 during trading hours on Friday, hitting $33.56. The company's stock had a trading volume of 4,303,134 shares, compared to its average volume of 3,319,718. The business has a fifty day moving average of $26.99 and a 200-day moving average of $23.60. The stock has a market cap of $30.04 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 0.34 and a beta of 0.42. Gold Fields has a twelve month low of $12.98 and a twelve month high of $33.57. 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 company also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.3993 per share. This is an increase from Gold Fields's previous semi-annual dividend of $0.38. This represents a dividend yield of 130.0%. The ex-dividend date is Friday, September 12th. Gold Fields's dividend payout ratio (DPR) is presently 26.38%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GFI. Arrowstreet Capital Limited Partnership grew its position in Gold Fields by 84.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company's stock worth $131,350,000 after acquiring an additional 2,545,579 shares in the last quarter. Invesco Ltd. boosted its holdings in Gold Fields by 32.9% in the 2nd quarter. Invesco Ltd. now owns 4,919,432 shares of the company's stock valued at $116,443,000 after purchasing an additional 1,217,594 shares during the period. DJE Kapital AG boosted its holdings in Gold Fields by 19.7% in the 2nd quarter. DJE Kapital AG now owns 4,511,125 shares of the company's stock valued at $105,260,000 after purchasing an additional 742,174 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Gold Fields by 1.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,507,327 shares of the company's stock valued at $99,567,000 after purchasing an additional 45,171 shares during the period. Finally, Amundi lifted its holdings in shares of Gold Fields by 17.8% during the 1st quarter. Amundi now owns 3,661,529 shares of the company's stock worth $82,934,000 after acquiring an additional 554,160 shares during the period. Institutional investors and hedge funds own 24.81% of the company's stock.

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.