Gold Fields (NYSE:GFI) Stock Price Down 2.8% - Here's What Happened

Gold Fields Limited (NYSE:GFI - Get Free Report)'s stock price traded down 2.8% during mid-day trading on Tuesday . The stock traded as low as $23.33 and last traded at $23.43. 4,085,295 shares traded hands during trading, an increase of 11% from the average session volume of 3,665,485 shares. The stock had previously closed at $24.10.

Analysts Set New Price Targets

Several equities research analysts recently commented on GFI shares. HSBC reiterated a "hold" rating and issued a $21.00 price objective on shares of Gold Fields in a research report on Thursday, April 17th. Scotiabank increased their price target on shares of Gold Fields from $20.00 to $23.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Hsbc Global Res raised shares of Gold Fields to a "hold" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. upped their target price on Gold Fields from $17.10 to $18.80 and gave the company a "neutral" rating in a research note on Wednesday, January 15th. Finally, StockNews.com downgraded Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 18th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $18.56.

Gold Fields Stock Performance

The company's fifty day moving average price is $21.13 and its two-hundred day moving average price is $17.54. The firm has a market capitalization of $19.51 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.30 and a beta of 0.92.

Gold Fields Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 14th were paid a dividend of $0.3752 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a 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 (DPR) is currently 25.96%.

Hedge Funds Weigh In On Gold Fields

Hedge funds have recently made changes to their positions in the stock. DJE Kapital AG purchased a new position in shares of Gold Fields in the 4th quarter worth $33,486,000. Marshall Wace LLP increased its stake in Gold Fields by 1,594.7% during the fourth quarter. Marshall Wace LLP now owns 2,114,631 shares of the company's stock worth $27,913,000 after acquiring an additional 1,989,849 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Gold Fields by 153.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,486,280 shares of the company's stock worth $32,832,000 after purchasing an additional 900,317 shares during the period. Man Group plc lifted its stake in shares of Gold Fields by 119.9% in the 4th quarter. Man Group plc now owns 1,417,329 shares of the company's stock valued at $18,709,000 after purchasing an additional 772,928 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC purchased a new stake in shares of Gold Fields during the 4th quarter worth about $9,033,000. 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.