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

Gold Fields Limited (NYSE:GFI - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $21.20, but opened at $22.99. Gold Fields shares last traded at $22.78, with a volume of 1,557,321 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently commented on GFI. Scotiabank increased their price objective on shares of Gold Fields from $20.00 to $23.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. HSBC reiterated a "hold" rating and issued a $21.00 target price on shares of Gold Fields in a research report on Thursday, April 17th. StockNews.com lowered Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Gold Fields from $17.10 to $18.80 and gave the stock a "neutral" rating in a research note on Wednesday, January 15th. Finally, Hsbc Global Res raised Gold Fields to a "hold" rating in a research note on Thursday, April 17th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $18.56.

Gold Fields Stock Performance

The stock has a market cap of $20.09 billion, a P/E ratio of 9.55, a P/E/G ratio of 0.30 and a beta of 0.57. The business has a 50 day simple moving average of $21.70 and a 200-day simple moving average of $17.87.

Gold Fields Increases Dividend

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

Institutional Investors Weigh In On Gold Fields

A number of hedge funds and other institutional investors have recently bought and sold shares of GFI. Richardson Financial Services Inc. bought a new stake in Gold Fields during the 1st quarter worth approximately $26,000. Banque Cantonale Vaudoise purchased a new position in shares of Gold Fields in the 1st quarter worth about $44,000. GAMMA Investing LLC lifted its position in Gold Fields by 21.0% in the 1st quarter. GAMMA Investing LLC now owns 3,742 shares of the company's stock worth $83,000 after buying an additional 649 shares during the last quarter. Blue Trust Inc. boosted its stake in Gold Fields by 67.1% in the first quarter. Blue Trust Inc. now owns 4,053 shares of the company's stock worth $90,000 after buying an additional 1,627 shares in the last quarter. Finally, FCA Corp TX bought a new position in Gold Fields during the fourth quarter valued at approximately $108,000. Institutional investors 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.