Gold Fields (NYSE:GFI) Shares Gap Up – Should You Buy?

Gold Fields Limited (NYSE:GFI) shares gapped up before the market opened on Wednesday . The stock had previously closed at $39.89, but opened at $41.43. Gold Fields shares last traded at $41.56, with a volume of 1,221,926 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on GFI. Canaccord Genuity Group lowered shares of Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 price objective for the company. in a report on Monday, October 13th. JPMorgan Chase & Co. started coverage on Gold Fields in a research report on Thursday, October 23rd. They set an “overweight” rating and a $62.00 price target on the stock. BMO Capital Markets upped their price target on Gold Fields from $24.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, August 25th. Investec downgraded Gold Fields from a “buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, HSBC restated a “hold” rating on shares of Gold Fields in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.43.

Gold Fields Trading Up 3.0%

The firm’s fifty day moving average price is $40.44 and its two-hundred day moving average price is $31.16.

Gold Fields Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 12th were issued a $0.3993 dividend. The ex-dividend date of this dividend was 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.

Institutional Trading of Gold Fields

Hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its position in shares of Gold Fields by 1.6% in the third quarter. Van ECK Associates Corp now owns 34,303,269 shares of the company’s stock valued at $1,439,365,000 after acquiring an additional 539,923 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Gold Fields by 84.7% in 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 in the last quarter. Invesco Ltd. boosted its stake in Gold Fields by 32.9% in 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. DJE Kapital AG lifted its holdings in shares of Gold Fields by 19.7% in the second quarter. DJE Kapital AG now owns 4,511,125 shares of the company’s stock worth $105,260,000 after buying an additional 742,174 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Gold Fields by 32.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,371,211 shares of the company’s stock worth $183,416,000 after buying an additional 1,062,242 shares in the last quarter. 24.81% of the stock is owned by hedge funds and other institutional investors.

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.