Gold Fields (NYSE:GFI) Shares Gap Up – Here’s What Happened

Gold Fields Limited (NYSE:GFIGet Free Report)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $34.11, but opened at $36.92. Gold Fields shares last traded at $36.86, with a volume of 1,007,546 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on GFI. Scotiabank lowered their target price on Gold Fields from $60.00 to $52.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Zacks Research cut Gold Fields from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. Canaccord Genuity Group raised shares of Gold Fields from a “hold” rating to a “buy” rating and raised their price objective for the stock from $40.25 to $57.25 in a research report on Friday, April 24th. Wall Street Zen raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada lowered their price objective on shares of 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, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Gold Fields currently has a consensus rating of “Hold” and a consensus target price of $47.75.

Check Out Our Latest Stock Report on Gold Fields

Gold Fields Price Performance

The company’s 50-day moving average is $34.84 and its two-hundred day moving average is $43.53. The company has a current ratio of 1.79, a quick ratio of 1.33 and a debt-to-equity ratio of 0.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GFI. V Square Quantitative Management LLC bought a new stake in shares of Gold Fields in the 1st quarter worth approximately $25,000. CIBC Private Wealth Group LLC grew its holdings in Gold Fields by 47.1% during the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock valued at $36,000 after purchasing an additional 273 shares during the period. Bayforest Capital Ltd increased its position in Gold Fields by 1,106.7% in the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock worth $47,000 after buying an additional 996 shares during the last quarter. Arax Advisory Partners increased its position in Gold Fields by 352.6% in the fourth quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock worth $50,000 after buying an additional 885 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Gold Fields by 2,152.0% in the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company’s stock valued at $50,000 after buying an additional 2,152 shares during the period. 24.81% of the stock is owned by institutional investors.

Gold Fields Company Profile

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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.

Further Reading

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