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

Key Points

• Gold Fields Limited's stock reached a new 52-week high of $42.15, with a recent trading price of $41.71, indicating strong market interest and trading volume.
• The company announced an increase in its semi-annual dividend to $0.3993 per share, representing a yield of 130.0% and a payout ratio of 27.23%.
• Wall Street analysts have various perspectives on Gold Fields, with ratings ranging from buy to hold, and a consensus target price of $26.63.

Shares of Gold Fields Limited (NYSE:GFI - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $42.15 and last traded at $41.71, with a volume of 484489 shares. The stock had previously closed at $41.32.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GFI. Capital One Financial set a $32.00 price objective on Gold Fields in a research report on Friday, August 22nd. Canaccord Genuity Group initiated coverage on shares of Gold Fields in a report on Monday, July 28th. They set a "buy" rating and a $33.00 price target on the stock. Wall Street Zen cut shares of Gold Fields from a "strong-buy" rating to a "buy" rating in a report on Monday, September 1st. Finally, BMO Capital Markets increased their price objective on shares of Gold Fields from $24.00 to $32.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $26.63.

Gold Fields Stock Performance

The business's fifty day moving average is $31.15 and its 200-day moving average is $25.68. The company has a quick ratio of 0.73, a current ratio of 1.89 and a debt-to-equity ratio of 0.40. The company has a market cap of $37.81 billion, a PE ratio of 17.97, a P/E/G ratio of 0.42 and a beta of 0.47.

Gold Fields Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 12th will be given a dividend of $0.3993 per share. This represents a dividend yield of 130.0%. The ex-dividend date of this dividend is Friday, September 12th. This is a positive change from Gold Fields's previous semi-annual dividend of $0.38. Gold Fields's payout ratio is presently 27.23%.

Hedge Funds Weigh In On Gold Fields

A number of institutional investors have recently bought and sold shares of GFI. Sequoia Financial Advisors LLC grew its holdings in Gold Fields by 47.9% during the first quarter. Sequoia Financial Advisors LLC now owns 15,756 shares of the company's stock valued at $348,000 after purchasing an additional 5,102 shares during the period. GAMMA Investing LLC lifted its position in shares of Gold Fields by 21.0% during the 1st quarter. GAMMA Investing LLC now owns 3,742 shares of the company's stock valued at $83,000 after buying an additional 649 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Gold Fields during the 1st quarter valued at approximately $8,075,000. Stratos Wealth Partners LTD. bought a new position in shares of Gold Fields during the 1st quarter valued at approximately $624,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Gold Fields in the 1st quarter worth approximately $2,914,000. 24.81% of the stock is owned by 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.