Gold Fields (NYSE:GFI) Reaches New 1-Year High - What's Next?

Key Points

• Gold Fields Limited (NYSE:GFI) achieved a new 52-week high of $42.79, reflecting strong performance in recent trading with volumes reaching 375,368 shares.
• The company announced an increase in its semi-annual dividend to $0.3993 per share, corresponding to a 130.0% yield, showcasing a solid payout ratio of 27.23%.
• Several analysts have updated their ratings on GFI, with Wall Street Zen upgrading it from a "buy" to a "strong-buy", while the consensus rating remains a "Hold" with an average price target of $26.63.

Gold Fields Limited (NYSE:GFI - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $42.79 and last traded at $42.71, with a volume of 375368 shares. The stock had previously closed at $41.96.

Analyst Ratings Changes

Several research analysts have commented on GFI shares. Canaccord Genuity Group started coverage on shares of Gold Fields in a report on Monday, July 28th. They set a "buy" rating and a $33.00 price target for the company. Capital One Financial set a $32.00 price objective on shares of Gold Fields in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of Gold Fields from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 26th. Finally, BMO Capital Markets boosted 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 report on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $26.63.

Gold Fields Stock Performance

The company has a market cap of $37.41 billion, a PE ratio of 17.79, a P/E/G ratio of 0.42 and a beta of 0.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.73 and a current ratio of 1.89. The stock's 50-day simple moving average is $33.11 and its 200 day simple moving average is $26.50.

Gold Fields Increases Dividend

The company also recently disclosed 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 represents a yield of 130.0%. The ex-dividend date was Friday, September 12th. This is an increase from Gold Fields's previous semi-annual dividend of $0.38. Gold Fields's payout ratio is currently 27.23%.

Hedge Funds Weigh In On Gold Fields

A number of large investors have recently made changes to their positions in GFI. Arrowstreet Capital Limited Partnership increased its holdings in shares of Gold Fields by 84.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company's stock valued at $131,350,000 after purchasing an additional 2,545,579 shares in the last quarter. Clark Capital Management Group Inc. purchased a new position in shares of Gold Fields in the 1st quarter valued at about $49,186,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Gold Fields by 122.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,308,969 shares of the company's stock valued at $78,323,000 after purchasing an additional 1,822,689 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Gold Fields in the 1st quarter valued at about $30,914,000. Finally, Invesco Ltd. grew its stake 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 acquiring an additional 1,217,594 shares during the last quarter. Hedge funds and other institutional investors 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.

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