Gold Fields (NYSE:GFI) Sets New 52-Week High - Time to Buy?

Key Points

• Gold Fields Limited's stock reached a new 52-week high of $35.49, marking a significant increase from a previous close of $34.36.
• The company recently announced a boosted semi-annual dividend of $0.3993 per share, representing a yield of 130.0%.
• There have been several recent changes in analyst ratings, with a consensus rating of "Hold" and an average price target of $25.11.

Shares of Gold Fields Limited (NYSE:GFI - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $35.49 and last traded at $35.48, with a volume of 354054 shares. The stock had previously closed at $34.36.

Analyst Ratings Changes

Several brokerages have weighed in on GFI. 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. 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. Capital One Financial set a $32.00 price target on shares of Gold Fields in a report on Friday, August 22nd. Finally, Wall Street Zen lowered Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 1st. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $25.11.

Gold Fields Trading Up 2.4%

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 firm has a market capitalization of $31.49 billion, a P/E ratio of 14.97, a PEG ratio of 0.37 and a beta of 0.47. The firm has a 50 day moving average of $28.02 and a 200-day moving average of $24.19.

Gold Fields Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.3993 per share. The ex-dividend date is Friday, September 12th. This is a boost from Gold Fields's previous semi-annual dividend of $0.38. This represents a yield of 130.0%. Gold Fields's dividend payout ratio is currently 26.38%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GFI. Country Trust Bank acquired a new stake in shares of Gold Fields in the 2nd quarter valued at about $26,000. Penserra Capital Management LLC bought a new position in Gold Fields in the 2nd quarter valued at about $26,000. Richardson Financial Services Inc. bought a new position in Gold Fields in the 1st quarter valued at about $26,000. IFP Advisors Inc lifted its position in Gold Fields by 672.1% in the 2nd quarter. IFP Advisors Inc now owns 1,552 shares of the company's stock valued at $37,000 after acquiring an additional 1,351 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in Gold Fields in the 2nd quarter valued at about $47,000. 24.81% of the stock is owned by institutional investors and hedge funds.

Gold Fields Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.