Gold Fields (NYSE:GFI) Shares Gap Down - Here's What Happened

Key Points

• Gapped down 6.8% — shares opened at $42.74 after closing at $46.41, last traded around $43.39 on volume of about 1.05 million shares.
• Analyst views are mixed: several upgrades (Scotiabank, JPMorgan, Zacks, Wall Street Zen) and at least one downgrade (Morgan Stanley), with a consensus rating of "Hold" and an average target of $44.00.
• Special dividend $1.4419 per share announced, with record/ex-dividend date on March 13 and payment on March 26, representing a reported yield of 633.0%.

Shares of Gold Fields Limited (NYSE:GFI - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $46.41, but opened at $42.74. Gold Fields shares last traded at $43.3850, with a volume of 1,045,095 shares traded.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GFI shares. Scotiabank boosted their target price on shares of Gold Fields from $47.00 to $61.00 and gave the stock a "sector perform" rating in a research report on Monday, January 26th. JPMorgan Chase & Co. raised their target price on Gold Fields from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 20th. Morgan Stanley downgraded Gold Fields from an "equal weight" rating to an "underweight" rating in a research note on Friday, January 23rd. Wall Street Zen raised Gold Fields from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 21st. Finally, Zacks Research upgraded Gold Fields from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $44.00.

Gold Fields Trading Down 6.8%

The firm has a 50-day moving average of $52.40 and a two-hundred day moving average of $45.07.

Gold Fields Dividend Announcement

The company also recently declared a special dividend, which will be paid on Thursday, March 26th. Investors of record on Friday, March 13th will be issued a dividend of $1.4419 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a yield of 633.0%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its position in Gold Fields by 1,604.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,096 shares of the company's stock worth $92,000 after purchasing an additional 1,973 shares in the last quarter. World Investment Advisors raised its stake in shares of Gold Fields by 65.0% during the 4th quarter. World Investment Advisors now owns 16,056 shares of the company's stock worth $701,000 after buying an additional 6,325 shares during the period. Larry Mathis Financial Planning LLC purchased a new position in Gold Fields during the fourth quarter valued at $245,000. Corient Private Wealth LLC grew its position in shares of Gold Fields by 1.1% in the fourth quarter. Corient Private Wealth LLC now owns 47,993 shares of the company's stock valued at $2,095,000 after purchasing an additional 513 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Gold Fields by 138.2% during the fourth quarter. Hsbc Holdings PLC now owns 111,152 shares of the company's stock worth $4,856,000 after purchasing an additional 64,492 shares in the last quarter. Hedge funds and other institutional investors own 24.81% of the company's stock.

Gold Fields Company Profile

Gold Fields NYSE: GFI is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company's core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.