CIBC Asset Management Inc Has $1.66 Million Holdings in Gold Fields Limited (NYSE:GFI)

CIBC Asset Management Inc decreased its position in shares of Gold Fields Limited (NYSE:GFI) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,109 shares of the company’s stock after selling 12,626 shares during the period. CIBC Asset Management Inc’s holdings in Gold Fields were worth $1,659,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Creative Planning increased its stake in shares of Gold Fields by 15.2% in the second quarter. Creative Planning now owns 54,242 shares of the company’s stock worth $808,000 after purchasing an additional 7,155 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Gold Fields during the third quarter worth approximately $1,052,000. International Assets Investment Management LLC acquired a new position in shares of Gold Fields during the third quarter worth approximately $10,600,000. Range Financial Group LLC bought a new stake in shares of Gold Fields in the second quarter valued at approximately $1,243,000. Finally, Van ECK Associates Corp increased its position in Gold Fields by 3.3% during the third quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock worth $744,566,000 after acquiring an additional 1,549,372 shares during the period. 26.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on GFI shares. StockNews.com downgraded shares of 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 report on Monday, September 16th. They set a “buy” rating and a $16.00 target price on the stock. Scotiabank cut their price target on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a report on Monday, August 26th. 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 and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.93.

Gold Fields Price Performance

NYSE:GFI opened at $14.99 on Wednesday. The firm has a 50-day moving average price of $15.71 and a 200 day moving average price of $15.65. 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 announced a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were given a dividend of $0.1692 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 2.2%.

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.