Stock Traders Buy Large 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 some unusual options trading on Thursday. Stock investors bought 155,470 call options on the stock. This represents an increase of approximately 4,809% compared to the average daily volume of 3,167 call options.

Institutional Investors Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GFI. Arrowstreet Capital Limited Partnership grew its position in Gold Fields by 84.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company's stock worth $131,350,000 after purchasing an additional 2,545,579 shares during the period. Clark Capital Management Group Inc. acquired a new stake in Gold Fields during the 1st quarter worth about $49,186,000. Robeco Institutional Asset Management B.V. grew its position in Gold Fields by 122.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,308,969 shares of the company's stock worth $78,323,000 after purchasing an additional 1,822,689 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Gold Fields during the 1st quarter worth about $30,914,000. Finally, Invesco Ltd. grew its position in Gold Fields by 32.9% during the 2nd quarter. Invesco Ltd. now owns 4,919,432 shares of the company's stock worth $116,443,000 after purchasing an additional 1,217,594 shares during the period. 24.81% of the stock is owned by institutional investors and hedge funds.

Gold Fields Stock Performance

GFI stock traded up $1.04 during midday trading on Thursday, reaching $38.00. The stock had a trading volume of 2,858,447 shares, compared to its average volume of 3,413,360. The stock has a market cap of $34.01 billion, a PE ratio of 16.17, a P/E/G ratio of 0.38 and a beta of 0.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.73 and a current ratio of 1.89. The firm has a fifty day simple moving average of $28.76 and a two-hundred day simple moving average of $24.48. Gold Fields has a 52-week low of $12.98 and a 52-week high of $38.04.

Gold Fields Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 12th will be given a dividend of $0.3993 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a yield of 130.0%. This is an increase from Gold Fields's previous semi-annual dividend of $0.38. Gold Fields's payout ratio is 26.38%.

Analyst Ratings Changes

Several analysts have recently commented on the company. BMO Capital Markets increased their price objective on Gold Fields from $24.00 to $32.00 and gave the company a "market perform" rating in a report on Monday, August 25th. Capital One Financial set a $32.00 price objective on Gold Fields in a report on Friday, August 22nd. Canaccord Genuity Group started coverage on Gold Fields in a report on Monday, July 28th. They set a "buy" rating and a $33.00 price objective for the company. Finally, Wall Street Zen lowered Gold Fields from a "strong-buy" rating to a "buy" rating in a research note on Monday, September 1st. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $25.11.

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.

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