Stock Traders Purchase High Volume of Gold Fields Call Options (NYSE:GFI)

Key Points

• Gold Fields Limited saw a significant increase in call options trading, with investors purchasing 155,470 call options, a surge of approximately 4,809% compared to the average daily volume.
• The company recently declared a semi-annual dividend of $0.3993 per share, marking a yield of 130.0%, an increase from the previous dividend.
• Analysts have raised their price targets for Gold Fields stock, with BMO Capital Markets increasing its target from $24.00 to $32.00, while maintaining a "market perform" rating.

Gold Fields Limited (NYSE:GFI - Get Free Report) was the recipient of unusually large options trading on Thursday. Stock investors bought 155,470 call options on the company. This is an increase of 4,809% compared to the average volume of 3,167 call options.

Gold Fields Stock Performance

GFI traded down $0.40 during mid-day trading on Tuesday, reaching $38.43. 2,945,268 shares of the company traded hands, compared to its average volume of 3,298,160. The stock has a market capitalization of $34.40 billion, a P/E ratio of 16.35, a P/E/G ratio of 0.39 and a beta of 0.47. The company has a quick ratio of 0.73, a current ratio of 1.89 and a debt-to-equity ratio of 0.40. The company's fifty day moving average price is $29.88 and its 200-day moving average price is $25.06. Gold Fields has a 52-week low of $12.98 and a 52-week high of $39.04.

Gold Fields Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 12th will be paid a $0.3993 dividend. This is a positive change from Gold Fields's previous semi-annual dividend of $0.38. The ex-dividend date is Friday, September 12th. This represents a dividend yield of 130.0%. Gold Fields's dividend payout ratio (DPR) is currently 27.23%.

Institutional Investors Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its stake in shares of Gold Fields by 1,244.8% in the 2nd quarter. Osaic Holdings Inc. now owns 248,918 shares of the company's stock worth $5,620,000 after purchasing an additional 230,408 shares in the last quarter. Headlands Technologies LLC increased its stake in shares of Gold Fields by 2,276.1% in the 2nd quarter. Headlands Technologies LLC now owns 17,583 shares of the company's stock worth $416,000 after purchasing an additional 16,843 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Gold Fields by 168.1% in the 2nd quarter. Rakuten Securities Inc. now owns 4,887 shares of the company's stock worth $116,000 after purchasing an additional 3,064 shares in the last quarter. Vident Advisory LLC increased its stake in shares of Gold Fields by 5.0% in the 2nd quarter. Vident Advisory LLC now owns 78,623 shares of the company's stock worth $1,861,000 after purchasing an additional 3,758 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in shares of Gold Fields in the 2nd quarter worth $212,000. 24.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GFI. Canaccord Genuity Group started coverage on Gold Fields in a research report on Monday, July 28th. They issued a "buy" rating and a $33.00 price target on the stock. BMO Capital Markets upped their price objective on Gold Fields from $24.00 to $32.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. Wall Street Zen cut Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 1st. Finally, Capital One Financial set a $32.00 price objective on Gold Fields in a research report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.63.

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.