StockNews.com Upgrades Gold Fields (NYSE:GFI) to Strong-Buy

StockNews.com upgraded shares of Gold Fields (NYSE:GFI) from a buy rating to a strong-buy rating in a research report report published on Monday morning.

GFI has been the subject of several other research reports. JPMorgan Chase & Co. dropped their price objective on shares of Gold Fields from $17.50 to $16.70 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Scotiabank dropped their price target on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. Bank of America initiated coverage on Gold Fields in a research report on Monday, September 16th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Investec upgraded Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.93.

Gold Fields Trading Down 3.5 %

GFI stock opened at $16.49 on Monday. The firm has a 50-day moving average price of $15.42 and a 200-day moving average price of $15.85. Gold Fields has a 12 month low of $12.19 and a 12 month high of $18.97. The stock has a market capitalization of $14.76 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18.

Gold Fields Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were paid a $0.1692 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 2.2%. Gold Fields’s dividend payout ratio is 14.14%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GFI. Concurrent Investment Advisors LLC grew its position in shares of Gold Fields by 8.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 11,100 shares of the company’s stock valued at $170,000 after buying an additional 850 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of Gold Fields in the third quarter worth approximately $160,000. Van ECK Associates Corp boosted its holdings in Gold Fields by 3.3% in the third quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock valued at $744,566,000 after acquiring an additional 1,549,372 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Gold Fields by 1.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 121,770 shares of the company’s stock valued at $1,929,000 after purchasing an additional 2,300 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Gold Fields during the 3rd quarter worth approximately $613,000. 26.02% of the stock is owned by 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.