Gold Fields (NYSE:GFI) Shares Gap Up to $14.70

Gold Fields Limited (NYSE:GFI)’s share price gapped up before the market opened on Friday . The stock had previously closed at $14.70, but opened at $15.11. Gold Fields shares last traded at $14.96, with a volume of 555,626 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GFI. Bank of America started coverage on Gold Fields in a research report on Monday. They issued a “buy” rating and a $16.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Gold Fields from $17.50 to $16.70 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. StockNews.com raised shares of Gold Fields from a “hold” rating to a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets raised shares of Gold Fields from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $13.50 to $14.00 in a research report on Wednesday, June 26th. Finally, Scotiabank reduced their price objective on shares of 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Gold Fields has an average rating of “Hold” and a consensus price target of $15.93.

Gold Fields Trading Up 1.9 %

The company has a current ratio of 1.77, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $13.41 billion, a price-to-earnings ratio of 8.36 and a beta of 1.17. The business has a 50 day simple moving average of $15.39 and a 200-day simple moving average of $15.73.

Gold Fields Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 13th will be given a $0.1692 dividend. The ex-dividend date is Friday, September 13th. This represents a dividend yield of 2.2%. Gold Fields’s dividend payout ratio is presently 15.34%.

Hedge Funds Weigh In On Gold Fields

A number of hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC raised its position in shares of Gold Fields by 6.9% in the 1st quarter. Ballentine Partners LLC now owns 14,017 shares of the company’s stock worth $223,000 after buying an additional 901 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in Gold Fields by 10.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock worth $172,000 after acquiring an additional 1,090 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Gold Fields by 78.4% in the 1st quarter. GAMMA Investing LLC now owns 3,098 shares of the company’s stock worth $49,000 after purchasing an additional 1,361 shares during the period. Parallel Advisors LLC raised its holdings in shares of Gold Fields by 51.7% in the 4th quarter. Parallel Advisors LLC now owns 4,878 shares of the company’s stock worth $71,000 after purchasing an additional 1,662 shares during the period. Finally, Banque Cantonale Vaudoise lifted its stake in shares of Gold Fields by 13.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 14,813 shares of the company’s stock valued at $235,000 after purchasing an additional 1,789 shares in the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.

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.