Gold Fields (NYSE:GFI) Shares Gap Up – Should You Buy?

Shares of Gold Fields Limited (NYSE:GFI) gapped up before the market opened on Thursday . The stock had previously closed at $13.20, but opened at $13.79. Gold Fields shares last traded at $13.85, with a volume of 767,035 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have commented on GFI. Investec upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. StockNews.com lowered Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. Bank of America initiated coverage on Gold Fields in a research note on Monday, September 16th. They set a “buy” rating and a $16.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on Gold Fields from $18.00 to $17.10 and set a “neutral” rating for the company in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Gold Fields currently has a consensus rating of “Hold” and a consensus price target of $16.03.

Gold Fields Stock Performance

The stock’s fifty day simple moving average is $14.60 and its two-hundred day simple moving average is $15.24. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 6.62, a price-to-earnings-growth ratio of 0.43 and a beta of 1.13.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. LGT Fund Management Co Ltd. purchased a new position in shares of Gold Fields in the 2nd quarter valued at $149,000. Concurrent Investment Advisors LLC acquired a new position in shares of Gold Fields during the second quarter worth about $153,000. QRG Capital Management Inc. purchased a new stake in shares of Gold Fields in the third quarter worth about $160,000. Candriam S.C.A. acquired a new stake in shares of Gold Fields in the second quarter valued at about $189,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Gold Fields during the 3rd quarter valued at about $209,000. Hedge funds and other institutional investors own 24.81% 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.