Gold Fields Limited (NYSE:GFI) Short Interest Update

Gold Fields Limited (NYSE:GFI) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 8,160,000 shares, a drop of 7.8% from the October 31st total of 8,850,000 shares. Based on an average daily trading volume, of 2,930,000 shares, the short-interest ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GFI shares. Bank of America assumed coverage on shares of Gold Fields in a report on Monday, September 16th. They issued a “buy” rating and a $16.00 price target for the company. Investec upgraded Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. StockNews.com cut shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Scotiabank lowered their target price on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a report on Monday, August 26th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.93.

Gold Fields Stock Performance

Shares of GFI stock traded down $0.24 during trading hours on Wednesday, reaching $14.26. 1,183,160 shares of the company’s stock were exchanged, compared to its average volume of 3,598,907. Gold Fields has a fifty-two week low of $12.19 and a fifty-two week high of $18.97. The stock’s 50 day moving average is $15.76 and its 200-day moving average is $15.52.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LGT Fund Management Co Ltd. purchased a new stake in shares of Gold Fields in the second quarter worth about $149,000. Concurrent Investment Advisors LLC acquired a new position in shares of Gold Fields in the 2nd quarter valued at $153,000. QRG Capital Management Inc. acquired a new stake in Gold Fields during the third quarter valued at $160,000. Hennion & Walsh Asset Management Inc. increased its holdings in Gold Fields by 10.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock valued at $172,000 after buying an additional 1,090 shares in the last quarter. Finally, Candriam S.C.A. purchased a new stake in shares of Gold Fields during the 2nd quarter worth about $189,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

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.