Gold Fields (NYSE:GFI) Stock Price Up 4.5% - Here's Why

Gold Fields Limited (NYSE:GFI - Get Free Report)'s stock price shot up 4.5% during trading on Friday . The company traded as high as $23.11 and last traded at $23.03. 1,325,033 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 3,668,894 shares. The stock had previously closed at $22.04.

Wall Street Analysts Forecast Growth

GFI has been the subject of a number of research analyst reports. Hsbc Global Res upgraded shares of Gold Fields to a "hold" rating in a research note on Thursday, April 17th. Scotiabank increased their target price on Gold Fields from $20.00 to $23.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. Wall Street Zen upgraded shares of Gold Fields from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, HSBC restated a "hold" rating and issued a $21.00 price objective on shares of Gold Fields in a research report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.56.

Gold Fields Stock Performance

The business's 50-day simple moving average is $22.06 and its 200-day simple moving average is $18.32. The company has a market capitalization of $20.33 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 0.30 and a beta of 0.57.

Gold Fields Increases Dividend

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

Hedge Funds Weigh In On Gold Fields

Several hedge funds have recently added to or reduced their stakes in the stock. ABC Arbitrage SA acquired a new stake in shares of Gold Fields in the 4th quarter valued at approximately $1,641,000. Raymond James Financial Inc. acquired a new position in shares of Gold Fields in the 4th quarter valued at $362,000. Rhumbline Advisers grew its holdings in shares of Gold Fields by 4.3% in the 4th 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 period. Allspring Global Investments Holdings LLC increased its position in shares of Gold Fields by 8.8% in 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 buying an additional 122,247 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Gold Fields by 42.3% during the 4th quarter. SG Americas Securities LLC now owns 87,990 shares of the company's stock worth $1,161,000 after buying an additional 26,143 shares during the period. Institutional investors and hedge funds 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.