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

Gold Fields Limited (NYSE:GFI - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $23.87, but opened at $25.42. Gold Fields shares last traded at $25.17, with a volume of 1,113,384 shares trading hands.

Wall Street Analyst Weigh In

GFI has been the topic of a number of recent analyst reports. Scotiabank lifted their price objective on Gold Fields from $20.00 to $23.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. StockNews.com cut shares of Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on shares of Gold Fields from $17.10 to $18.80 and gave the company a "neutral" rating in a research report on Wednesday, January 15th. Finally, HSBC reissued a "hold" rating and issued a $21.00 price objective on shares of Gold Fields in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Gold Fields has a consensus rating of "Hold" and an average price target of $18.56.

Gold Fields Stock Performance

The business has a 50 day moving average of $20.75 and a two-hundred day moving average of $17.30. The firm has a market capitalization of $21.58 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.30 and a beta of 0.92.

Gold Fields Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 14th were issued a $0.3752 dividend. This is a boost from Gold Fields's previous semi-annual dividend of $0.17. This represents a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, March 14th. Gold Fields's dividend payout ratio (DPR) is currently 25.96%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. ABC Arbitrage SA bought a new stake in shares of Gold Fields during the fourth quarter worth about $1,641,000. Raymond James Financial Inc. bought a new position in shares of Gold Fields in the fourth quarter valued at approximately $362,000. Rhumbline Advisers boosted its position in shares of Gold Fields by 4.3% during the fourth quarter. Rhumbline Advisers now owns 17,332 shares of the company's stock valued at $229,000 after buying an additional 720 shares during the last quarter. Range Financial Group LLC purchased a new stake in Gold Fields in the 4th quarter valued at $770,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Gold Fields by 8.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,507,457 shares of the company's stock valued at $21,194,000 after acquiring an additional 122,247 shares in the last quarter. Institutional investors and hedge funds own 24.81% of the company's stock.

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.