The Manufacturers Life Insurance Company Lowers Stake in Gold Fields Limited (NYSE:GFI)

The Manufacturers Life Insurance Company lowered its stake in shares of Gold Fields Limited (NYSE:GFI) by 14.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 89,774 shares of the company’s stock after selling 15,350 shares during the period. The Manufacturers Life Insurance Company’s holdings in Gold Fields were worth $1,338,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Gold Fields by 78.4% during 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. LGT Fund Management Co Ltd. purchased a new position in Gold Fields in the 2nd quarter valued at approximately $149,000. Concurrent Investment Advisors LLC purchased a new position in Gold Fields in the 2nd quarter valued at approximately $153,000. Hennion & Walsh Asset Management Inc. boosted its position in Gold Fields by 10.4% in the 2nd 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 during the period. Finally, Candriam S.C.A. purchased a new position in Gold Fields in the 2nd quarter valued at approximately $189,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Gold Fields Stock Down 1.1 %

Gold Fields stock opened at $15.41 on Friday. The company has a fifty day simple moving average of $15.12 and a 200-day simple moving average of $15.80. Gold Fields Limited has a 12-month low of $12.19 and a 12-month high of $18.97.

Gold Fields Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were paid a dividend of $0.1692 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 2.2%.

Wall Street Analyst Weigh In

Several brokerages have commented on GFI. Scotiabank decreased their price target on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. JPMorgan Chase & Co. decreased their price target 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. Bank of America began coverage on shares of Gold Fields in a research report on Monday, September 16th. They issued a “buy” rating and a $16.00 price target for the company. StockNews.com raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, BMO Capital Markets raised shares of Gold Fields from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $13.50 to $14.00 in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.93.

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.