Gold Fields (NYSE:GFI) Reaches New 52-Week High - Still a Buy?

Key Points

• Gold Fields Limited shares reached a new 52-week high of $43.70 during trading, closing at $43.67, a notable increase from the prior close of $41.00.
• Recent analysts' ratings show a mixed outlook, with BMO Capital Markets raising the target price to $32.00, while Investec downgraded the stock from "buy" to "hold".
• The company increased its semi-annual dividend to $0.3993, offering an attractive yield of 130.0% and maintaining a payout ratio of 27.23%.

Shares of Gold Fields Limited (NYSE:GFI - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $43.70 and last traded at $43.67, with a volume of 3407456 shares trading hands. The stock had previously closed at $41.00.

Analysts Set New Price Targets

A number of brokerages recently commented on GFI. Canaccord Genuity Group restated a "hold" rating and set a $39.00 price target on shares of Gold Fields in a research note on Monday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Gold Fields in a report on Wednesday, October 8th. Investec lowered shares of Gold Fields from a "buy" rating to a "hold" rating in a report on Friday. BMO Capital Markets upped their target price on shares of Gold Fields from $24.00 to $32.00 and gave the stock a "market perform" rating in a report on Monday, August 25th. Finally, Wall Street Zen raised shares of Gold Fields from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $27.63.

Gold Fields Stock Performance

The firm has a market cap of $39.09 billion, a PE ratio of 18.58, a PEG ratio of 0.41 and a beta of 0.49. The company's 50-day simple moving average is $36.14 and its two-hundred day simple moving average is $27.85.

Gold Fields Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, September 12th were issued a $0.3993 dividend. This is a boost from Gold Fields's previous semi-annual dividend of $0.38. The ex-dividend date of this dividend was Friday, September 12th. This represents a yield of 130.0%. Gold Fields's payout ratio is 27.23%.

Institutional Investors Weigh In On Gold Fields

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

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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