Gold Fields (NYSE:GFI) Shares Up 6.4% - Here's Why

Key Points

• Gold Fields Limited's shares increased by 6.4%, closing at $40.30 after previously trading at $37.87.
• The company has declared a semi-annual dividend of $0.3993 per share, representing a yield of 130.0%, which is an increase from the previous dividend of $0.38.
• Analyst ratings for Gold Fields are mixed, with two analysts rating it as a Buy, while five have assigned a Hold rating, with an average target price of $26.63.

Gold Fields Limited (NYSE:GFI - Get Free Report)'s stock price was up 6.4% during mid-day trading on Friday . The company traded as high as $40.33 and last traded at $40.30. Approximately 2,303,952 shares traded hands during trading, a decline of 32% from the average daily volume of 3,409,281 shares. The stock had previously closed at $37.87.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GFI shares. BMO Capital Markets lifted their price objective 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. Capital One Financial set a $32.00 target price on Gold Fields in a research report on Friday, August 22nd. Wall Street Zen downgraded Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 1st. Finally, Canaccord Genuity Group initiated coverage on Gold Fields in a research report on Monday, July 28th. They issued a "buy" rating and a $33.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Gold Fields has a consensus rating of "Hold" and a consensus price target of $26.63.

Gold Fields Trading Up 2.2%

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 50 day moving average of $31.15 and a 200-day moving average of $25.68.

Gold Fields Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 12th will be given a dividend of $0.3993 per share. This is a boost from Gold Fields's previous semi-annual dividend of $0.38. The ex-dividend date of this dividend is Friday, September 12th. This represents a yield of 130.0%. Gold Fields's payout ratio is 27.23%.

Institutional Trading of Gold Fields

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

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.