Gold Fields (NYSE:GFI) Hits New 12-Month High - Here's What Happened

Key Points

• Gold Fields Limited's stock price hit a new 52-week high at $26.82, a significant increase from its previous close of $25.59, with a trading volume of 254,351 shares.
• Market analysis shows a consensus rating of "Moderate Buy" for Gold Fields, with an average price target of $22.36 from various analysts.
• Institutional ownership in Gold Fields is notable, with hedge funds and institutional investors controlling 24.81% of the stock, reflecting strong interest in the company's performance.

Gold Fields Limited (NYSE:GFI - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $26.82 and last traded at $26.82, with a volume of 254351 shares changing hands. The stock had previously closed at $25.59.

Wall Street Analyst Weigh In

GFI has been the subject of several analyst reports. HSBC reiterated a "hold" rating and set a $21.00 price objective on shares of Gold Fields in a report on Thursday, April 17th. Hsbc Global Res upgraded Gold Fields to a "hold" rating in a research note on Thursday, April 17th. Canaccord Genuity Group started coverage on Gold Fields in a research note on Monday, July 28th. They issued a "buy" rating and a $33.00 target price for the company. Wall Street Zen lowered Gold Fields from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Scotiabank raised their target price on Gold Fields from $20.00 to $23.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Gold Fields has an average rating of "Moderate Buy" and a consensus price target of $22.36.

Gold Fields Price Performance

The firm has a 50-day simple moving average of $25.07 and a two-hundred day simple moving average of $22.18. The company has a market capitalization of $28.00 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.33 and a beta of 0.42. The company has a current ratio of 1.14, a quick ratio of 0.73 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bridgewater Advisors Inc. grew its position in Gold Fields by 1.8% during the 2nd quarter. Bridgewater Advisors Inc. now owns 20,375 shares of the company's stock worth $516,000 after purchasing an additional 354 shares during the period. Allworth Financial LP grew its position in Gold Fields by 31.8% during 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 during the period. Signaturefd LLC grew its position in Gold Fields by 6.0% during the 2nd quarter. Signaturefd LLC now owns 9,714 shares of the company's stock worth $230,000 after purchasing an additional 546 shares during the period. Assetmark Inc. grew its position in Gold Fields by 34.2% during the 2nd quarter. Assetmark Inc. now owns 2,189 shares of the company's stock worth $52,000 after purchasing an additional 558 shares during the period. Finally, GAMMA Investing LLC grew its position in Gold Fields by 21.0% during 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 during the period. 24.81% of the stock is owned by institutional investors and hedge funds.

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.