Gold Fields (NYSE:GFI) Shares Gap Up - Time to Buy?

Key Points

• Gold Fields shares gapped higher, opening at $46.05 versus a prior close of $44.66, though they last traded near $45.97.
• Analyst sentiment is mixed: five analysts rate the stock Buy, three Hold and two Sell, producing a consensus Hold rating and a $54.05 target price. JPMorgan and RBC recently lowered their price targets.
• Institutional investors own 24.81% of the company, with several funds increasing their positions. Gold Fields also declared a $1.0144 dividend payable September 24, although the reported 421% yield appears unusually high and may reflect a data error.

Gold Fields Limited (NYSE:GFI - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $44.66, but opened at $46.05. Gold Fields shares last traded at $45.9650, with a volume of 669,025 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GFI shares. Zacks Research cut shares of Gold Fields from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. Wall Street Zen lowered shares of Gold Fields from a "buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings reissued a "buy (b-)" rating on shares of Gold Fields in a research note on Monday. JPMorgan Chase & Co. dropped their target price on Gold Fields from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada reduced their price target on Gold Fields from $50.00 to $49.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Gold Fields has a consensus rating of "Hold" and a consensus target price of $54.05.

Gold Fields Stock Up 0.4%

The stock's 50 day moving average price is $37.25 and its 200-day moving average price is $42.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.33 and a current ratio of 1.87.

Gold Fields Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 11th will be given a $1.0144 dividend. This represents a yield of 421.0%. The ex-dividend date of this dividend is Friday, September 11th.

Hedge Funds Weigh In On Gold Fields

A number of institutional investors have recently modified their holdings of the stock. Crescent Grove Advisors LLC purchased a new position in Gold Fields during the 1st quarter worth $1,795,000. Bank of America Corp DE lifted its holdings in shares of 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 buying an additional 187,755 shares during the period. Euro Pacific Asset Management LLC grew its position in shares of Gold Fields by 371.9% during the 1st quarter. Euro Pacific Asset Management LLC now owns 64,497 shares of the company's stock worth $3,117,000 after buying an additional 50,830 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Gold Fields during the second quarter valued at $8,033,000. Finally, Gabelli Funds LLC increased its stake in shares of Gold Fields by 4.8% during the fourth quarter. Gabelli Funds LLC now owns 392,100 shares of the company's stock valued at $17,119,000 after buying an additional 18,100 shares during the period. 24.81% of the stock is owned by hedge funds and other institutional investors.

About Gold Fields

Gold Fields NYSE: GFI is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company's core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.

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