Gold Fields (NYSE:GFI) Announces Earnings Results

Key Points

• Gold Fields reported earnings of $1.14 per share for the quarter, a significant increase from $0.43 per share during the same period last year.
• The company's stock opened at $30.20 and has seen a market cap of $27.03 billion, with a P/E ratio of 12.85.
• Recent institutional activity includes Quantinno Capital Management increasing its holdings by 16.4%, reflecting growing investor interest in Gold Fields.

Gold Fields (NYSE:GFI - Get Free Report) announced its quarterly earnings data on Friday. The company reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.19 by ($0.05), RTT News reports. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company posted $0.43 EPS.

Gold Fields Stock Performance

Shares of NYSE:GFI traded down $0.32 during midday trading on Wednesday, reaching $32.81. 1,364,498 shares of the company traded hands, compared to its average volume of 3,386,102. The firm has a market capitalization of $29.37 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 0.35 and a beta of 0.42. Gold Fields has a 12 month low of $12.98 and a 12 month high of $33.18. The firm's fifty day moving average price is $26.48 and its two-hundred day moving average price is $23.35. The company has a quick ratio of 0.73, a current ratio of 1.89 and a debt-to-equity ratio of 0.40.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GFI. Transamerica Financial Advisors LLC lifted its position in Gold Fields by 12.8% during the second quarter. Transamerica Financial Advisors LLC now owns 5,968 shares of the company's stock valued at $141,000 after purchasing an additional 677 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Gold Fields by 183.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,935 shares of the company's stock worth $69,000 after purchasing an additional 1,900 shares during the last quarter. NewEdge Advisors LLC increased its stake in Gold Fields by 2,152.0% during the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company's stock worth $50,000 after acquiring an additional 2,152 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Gold Fields by 606.6% during the second quarter. Smartleaf Asset Management LLC now owns 2,664 shares of the company's stock worth $61,000 after acquiring an additional 2,287 shares during the last quarter. Finally, Rakuten Securities Inc. increased its stake in Gold Fields by 168.1% during the second quarter. Rakuten Securities Inc. now owns 4,887 shares of the company's stock worth $116,000 after acquiring an additional 3,064 shares during the last quarter. Institutional investors own 24.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group assumed coverage on Gold Fields in a research note on Monday, July 28th. They issued a "buy" rating and a $33.00 price target on the stock. Wall Street Zen upgraded Gold Fields from a "buy" rating to a "strong-buy" rating in a research report on Sunday. BMO Capital Markets increased their price objective on Gold Fields from $24.00 to $32.00 and gave the stock a "market perform" rating in a research report on Monday. Finally, Capital One Financial set a $32.00 price objective on Gold Fields in a research report on Friday. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Gold Fields has an average rating of "Hold" and a consensus target price of $25.11.

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.