Gold Fields (NYSE:GFI) Trading Up 4.6% – Here’s What Happened

Gold Fields Limited (NYSE:GFI) rose 4.6% on Thursday . The company traded as high as $17.10 and last traded at $17.10. Approximately 371,324 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 3,696,399 shares. The stock had previously closed at $16.35.

Wall Street Analyst Weigh In

GFI has been the topic of several recent research reports. Scotiabank dropped their price target on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. BMO Capital Markets raised Gold Fields from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $13.50 to $14.00 in a research report on Wednesday, June 26th. StockNews.com upgraded shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their target price on shares of Gold Fields from $17.50 to $16.70 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, Bank of America initiated coverage on shares of Gold Fields in a research note on Monday, September 16th. They set a “buy” rating and a $16.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Gold Fields has an average rating of “Hold” and an average price target of $15.93.

Gold Fields Stock Up 6.1 %

The firm’s 50 day moving average is $15.08 and its two-hundred day moving average is $15.81.

Gold Fields Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were given a $0.1692 dividend. This represents a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 13th.

Institutional Investors Weigh In On Gold Fields

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Eagle Investment Management LLC acquired a new position in Gold Fields during the first quarter worth approximately $85,326,000. Van ECK Associates Corp boosted its stake in shares of Gold Fields by 6.6% during the 1st quarter. Van ECK Associates Corp now owns 47,241,502 shares of the company’s stock worth $750,667,000 after acquiring an additional 2,934,943 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Gold Fields by 145.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,129,278 shares of the company’s stock worth $16,329,000 after acquiring an additional 669,819 shares during the last quarter. South Street Advisors LLC bought a new stake in Gold Fields in the 1st quarter valued at $9,260,000. Finally, Mackenzie Financial Corp lifted its holdings in Gold Fields by 28.7% during the 2nd quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock valued at $38,878,000 after purchasing an additional 581,730 shares during the last quarter. 26.02% of the stock is 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, 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.