Gold Fields (NYSE:GFI) Raised to “Buy” at Investec

Investec upgraded shares of Gold Fields (NYSE:GFI) from a hold rating to a buy rating in a report released on Friday morning, MarketBeat Ratings reports.

A number of other equities research analysts have also weighed in on the stock. Scotiabank dropped 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 report on Monday, August 26th. BMO Capital Markets raised Gold Fields from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $13.50 to $14.00 in a report on Wednesday, June 26th. JPMorgan Chase & Co. decreased their target price on Gold Fields from $17.50 to $16.70 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Bank of America assumed coverage on shares of Gold Fields in a research report on Monday, September 16th. They set a “buy” rating and a $16.00 price target for the company. Finally, StockNews.com raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gold Fields presently has a consensus rating of “Hold” and an average price target of $15.93.

Gold Fields Stock Up 4.5 %

GFI stock opened at $18.02 on Friday. Gold Fields has a 52 week low of $12.19 and a 52 week high of $18.97. The stock has a market capitalization of $16.13 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. The firm has a 50 day moving average of $15.17 and a 200 day moving average of $15.82.

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 paid a dividend of $0.1692 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 2.2%. Gold Fields’s payout ratio is 14.14%.

Hedge Funds Weigh In On Gold Fields

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Gold Fields by 78.4% during the first quarter. GAMMA Investing LLC now owns 3,098 shares of the company’s stock valued at $49,000 after buying an additional 1,361 shares during the period. LGT Fund Management Co Ltd. purchased a new stake in shares of Gold Fields during the 2nd quarter worth about $149,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Gold Fields during the 2nd quarter valued at about $153,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of 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 purchasing an additional 1,090 shares in the last quarter. Finally, Candriam S.C.A. acquired a new position in Gold Fields in the 2nd quarter worth about $189,000. 26.02% of the stock is currently owned by institutional investors and hedge funds.

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.