Gold Fields (NYSE:GFI) Shares Break Below Fifty Day Moving Average - Time to Sell?

Key Points

• Gold Fields shares fell below their 50-day moving average of $38.97, trading as low as $37.86 and last at $38.157. The stock’s 200-day moving average is $42.27.
• Analyst views are mixed, but MarketBeat reports an overall “Moderate Buy” consensus from six Buy, three Hold, and one Sell rating; the average price target is $52.46.
• The company recently paid a dividend of $1.0144 per share to investors of record on September 11; institutional investors and hedge funds own about 24.81% of its shares.

Gold Fields Limited (NYSE:GFI - Get Free Report) shares crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $38.97 and traded as low as $37.86. Gold Fields shares last traded at $38.1570, with a volume of 4,031,242 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GFI. Zacks Research raised Gold Fields from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 27th. Wall Street Zen cut Gold Fields from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. JPMorgan Chase & Co. lowered their target price on Gold Fields from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, July 16th. Royal Bank Of Canada lifted their price target on Gold Fields from $49.00 to $54.00 and gave the company an "outperform" rating in a report on Wednesday, September 16th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Gold Fields in a report on Monday, August 31st. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Gold Fields currently has an average rating of "Moderate Buy" and a consensus target price of $52.46.

Gold Fields Trading Down 7.0%

The business's 50-day simple moving average is $38.97 and its 200-day simple moving average is $42.27.

Gold Fields Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, September 24th. Investors of record on Friday, September 11th were paid a dividend of $1.0144 per share. This represents a dividend yield of 450.0%. The ex-dividend date of this dividend was Friday, September 11th.

Hedge Funds Weigh In On Gold Fields

Several large investors have recently bought and sold shares of the business. Latitude Advisors LLC bought a new position in Gold Fields in the third quarter valued at approximately $36,000. Gen Wealth Partners Inc raised its position in shares of Gold Fields by 174.0% during the 3rd quarter. Gen Wealth Partners Inc now owns 1,370 shares of the company's stock valued at $49,000 after acquiring an additional 870 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Gold Fields during the 3rd quarter valued at $71,000. Allworth Financial LP raised its position in shares of Gold Fields by 11.8% during the 2nd quarter. Allworth Financial LP now owns 2,631 shares of the company's stock valued at $88,000 after acquiring an additional 277 shares during the last quarter. Finally, Stelac Advisory Services LLC acquired a new position in shares of Gold Fields in the 3rd quarter valued at $101,000. 24.81% of the stock is currently owned by institutional investors and hedge funds.

About Gold Fields

Gold Fields Limited is a South Africa-based gold mining company. Its business includes the exploration, development, extraction and processing of mineral resources, with gold as its primary product and copper produced at some operations. The company operates mines and projects in Australia, Ghana, Peru, South Africa and Chile. Its activities span the full mining cycle, from evaluating and developing deposits to operating mines and processing ore. Gold Fields was formed in 1998 through the combination of Gold Fields of South Africa and Gencor's gold assets.

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