Gold Fields (NYSE:GFI) Shares Gap Down - What's Next?

Key Points

• Gold Fields shares fell sharply, opening at $34.84 versus a prior close of $40.38 and last trading around $35.49, a decline of roughly 12.4%.
• Analyst views are mixed: JPMorgan and Scotiabank lowered price targets, while RBC raised its target to $54; overall, analysts maintain a consensus “Hold” rating with an average target of $55.05.
• The company recently paid a $1.0144-per-share dividend, while institutional investors own approximately 24.81% of Gold Fields’ stock.

Gold Fields Limited (NYSE:GFI - Get Free Report) gapped down prior to trading on Monday. The stock had previously closed at $40.38, but opened at $34.84. Gold Fields shares last traded at $35.4940, with a volume of 1,731,037 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Gold Fields from $75.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, July 16th. Zacks Research cut shares of Gold Fields from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 21st. Weiss Ratings restated a "buy (b-)" rating on shares of Gold Fields in a research report on Monday, August 31st. Royal Bank Of Canada raised their price target on Gold Fields from $49.00 to $54.00 and gave the stock an "outperform" rating in a report on Wednesday, September 16th. Finally, Scotiabank reduced their price target on Gold Fields from $60.00 to $52.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Gold Fields has a consensus rating of "Hold" and an average price target of $55.05.

Gold Fields Stock Down 12.4%

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.87 and a quick ratio of 1.33. The company has a 50-day simple moving average of $41.06 and a two-hundred day simple moving average of $41.00.

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 given a dividend of $1.0144 per share. This represents a yield of 450.0%. The ex-dividend date of this dividend was Friday, September 11th.

Institutional Investors Weigh In On Gold Fields

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Crescent Grove Advisors LLC purchased a new stake in shares of Gold Fields in the first quarter worth $1,795,000. Oakmont Investment Advisors Inc. purchased a new position in shares of Gold Fields in the 2nd quarter worth about $912,000. Engineers Gate Manager LP boosted its stake in Gold Fields by 51.0% in the 2nd quarter. Engineers Gate Manager LP now owns 87,455 shares of the company's stock worth $2,938,000 after purchasing an additional 29,555 shares in the last quarter. Bank of America Corp DE boosted its stake in Gold Fields by 32.1% in the 1st quarter. Bank of America Corp DE now owns 771,791 shares of the company's stock worth $35,039,000 after purchasing an additional 187,755 shares in the last quarter. Finally, Euro Pacific Asset Management LLC grew its position in Gold Fields by 371.9% during the 1st quarter. Euro Pacific Asset Management LLC now owns 64,497 shares of the company's stock valued at $3,117,000 after purchasing an additional 50,830 shares during the last quarter. Hedge funds and other institutional investors own 24.81% of the company's stock.

Gold Fields Company Profile

Gold Fields Limited is a global gold producer headquartered in Johannesburg, South Africa. The company explores for, develops and operates gold mines, producing doré and other gold-bearing products for refining and sale. Its portfolio also includes limited by-product production, such as copper and silver, at certain operations.

Gold Fields operates mines and development projects across Africa, Australia and the Americas. Its assets include the South Deep mine in South Africa; Tarkwa and the Damang complex in Ghana; St Ives, Agnew and Granny Smith in Western Australia; Cerro Corona in Peru; and Salares Norte in Chile.

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