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

Key Points

• Gold Fields Limited shares have reached a new 52-week high, trading at $43.44 during the day and closing at $42.78, significantly up from a previous close of $41.85.
• The company announced a semi-annual dividend increase to $0.3993, representing a dividend yield of 130.0% and a payout ratio of 27.23%.
• Recent analyst ratings show mixed reviews, with Zacks Research downgrading the stock to a "hold," while Wall Street Zen upgraded it to a "strong-buy," reflecting varied opinions on its future performance.

Shares of Gold Fields Limited (NYSE:GFI - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $43.44 and last traded at $42.78, with a volume of 494643 shares trading hands. The stock had previously closed at $41.85.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GFI. Zacks Research lowered shares of Gold Fields from a "strong-buy" rating to a "hold" rating in a research report on Monday. 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. BMO Capital Markets lifted their target price 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. Canaccord Genuity Group started coverage on shares of Gold Fields in a research report on Monday, July 28th. They set a "buy" rating and a $33.00 target price for the company. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Gold Fields in a research report on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $26.63.

Gold Fields Price Performance

The firm's 50 day moving average is $34.84 and its 200 day moving average is $27.22. The company has a market capitalization of $38.75 billion, a PE ratio of 18.42, a P/E/G ratio of 0.43 and a beta of 0.49.

Gold Fields Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GFI. Richardson Financial Services Inc. purchased a new position in Gold Fields during the 1st quarter valued at $26,000. Penserra Capital Management LLC purchased a new position in Gold Fields during the 2nd quarter valued at $26,000. Country Trust Bank purchased a new position in Gold Fields during the 2nd quarter valued at $26,000. IFP Advisors Inc increased its position in Gold Fields by 672.1% during the 2nd quarter. IFP Advisors Inc now owns 1,552 shares of the company's stock valued at $37,000 after purchasing an additional 1,351 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in Gold Fields during the 1st quarter valued at $44,000. 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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