Gold Fields (NYSE:GFI) Shares Gap Up to $15.15

Shares of Gold Fields Limited (NYSE:GFI) gapped up prior to trading on Tuesday . The stock had previously closed at $15.15, but opened at $15.63. Gold Fields shares last traded at $15.48, with a volume of 291,212 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GFI. BMO Capital Markets cut shares of Gold Fields from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $14.00 to $12.00 in a report on Friday, February 2nd. Scotiabank lowered their price objective on Gold Fields from $15.50 to $15.00 and set a “sector perform” rating for the company in a research note on Monday, February 26th. Finally, StockNews.com downgraded Gold Fields from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.67.

Gold Fields Trading Up 1.1 %

The business has a fifty day simple moving average of $13.97 and a 200-day simple moving average of $13.63.

Gold Fields (NYSE:GFI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.10. On average, sell-side analysts anticipate that Gold Fields Limited will post 1.15 earnings per share for the current fiscal year.

Gold Fields Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.1717 per share. The ex-dividend date is Thursday, March 14th. This is a boost from Gold Fields’s previous semi-annual dividend of $0.17. This represents a yield of 2.5%.

Hedge Funds Weigh In On Gold Fields

Several large investors have recently bought and sold shares of GFI. Capricorn Fund Managers Ltd purchased a new stake in shares of Gold Fields during the 4th quarter valued at $3,897,000. Seven Eight Capital LP purchased a new stake in shares of Gold Fields during the 3rd quarter valued at $165,000. CI Investments Inc. increased its position in shares of Gold Fields by 13.5% during the 3rd quarter. CI Investments Inc. now owns 521,536 shares of the company’s stock valued at $5,664,000 after purchasing an additional 61,931 shares during the last quarter. Invesco Ltd. increased its position in shares of Gold Fields by 4.7% during the 3rd quarter. Invesco Ltd. now owns 2,872,336 shares of the company’s stock valued at $31,194,000 after purchasing an additional 129,216 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in Gold Fields by 11.1% in the 3rd quarter. Schroder Investment Management Group now owns 3,101,543 shares of the company’s stock worth $33,683,000 after acquiring an additional 308,972 shares during the last quarter. 26.02% of the stock is currently owned by institutional investors.

Gold Fields Company Profile

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, West Africa, Australia, and Peru. The company also explores for copper deposits. It holds interests in nine operating mines, as well as gold mineral reserves and mineral resources. The company was founded in 1887 and is based in Sandton, South Africa.