Gold Fields (NYSE:GFI) Shares Gap Down - Time to Sell?

Key Points

• Gold Fields Limited shares opened significantly lower at $39.89, down from a previous close of $43.76, indicating a notable shift in market sentiment.
• Analysts have varied opinions on Gold Fields, with target prices ranging from $24.00 to $39.00 and a generally held consensus rating of "Hold."
• The company increased its semi-annual dividend to $0.3993 per share, resulting in a high dividend yield of 130.0% and showcasing its commitment to returning value to investors.

Gold Fields Limited (NYSE:GFI - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $43.76, but opened at $39.89. Gold Fields shares last traded at $39.97, with a volume of 1,205,033 shares traded.

Wall Street Analysts Forecast Growth

GFI has been the subject of a number of research analyst reports. Capital One Financial set a $32.00 price target on Gold Fields in a report on Friday, August 22nd. Wall Street Zen lowered Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Saturday. HSBC reissued a "hold" rating on shares of Gold Fields in a research report on Thursday, October 9th. Canaccord Genuity Group downgraded Gold Fields from a "buy" rating to a "hold" rating and set a $39.00 price target on the stock. in a research note on Monday, October 13th. Finally, BMO Capital Markets lifted their target price on Gold Fields from $24.00 to $32.00 and gave the company a "market perform" rating in a research note on Monday, August 25th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $27.63.

Gold Fields Stock Down 11.9%

The company has a 50 day moving average of $37.44 and a 200 day moving average of $28.62. The firm has a market cap of $34.52 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 0.33 and a beta of 0.49.

Gold Fields Increases Dividend

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

Institutional Investors Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Richardson Financial Services Inc. bought a new position in Gold Fields during the first quarter valued at about $26,000. Penserra Capital Management LLC acquired a new stake in Gold Fields during the 2nd quarter worth $26,000. Country Trust Bank acquired a new position in Gold Fields in the second quarter valued at about $26,000. IFP Advisors Inc grew its stake in Gold Fields by 672.1% in the second 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 during the period. Finally, Banque Cantonale Vaudoise acquired a new position in Gold Fields in the 1st quarter worth $44,000. 24.81% of the stock is owned by institutional investors and hedge funds.

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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