Gold Fields (NYSE:GFI) Shares Gap Up – Still a Buy?

Gold Fields Limited (NYSE:GFI) gapped up prior to trading on Friday . The stock had previously closed at $14.38, but opened at $15.24. Gold Fields shares last traded at $15.02, with a volume of 931,422 shares trading hands.

Wall Street Analysts Forecast Growth

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

Gold Fields Price Performance

The stock’s fifty day simple moving average is $14.35 and its 200-day simple moving average is $15.24.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its position in shares of Gold Fields by 3.3% in the third quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock valued at $744,566,000 after purchasing an additional 1,549,372 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Gold Fields by 10.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,155,835 shares of the company’s stock valued at $94,492,000 after purchasing an additional 580,546 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Gold Fields by 28.7% in the second quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock valued at $38,878,000 after purchasing an additional 581,730 shares during the last quarter. Bamco Inc. NY grew its position in shares of Gold Fields by 4.8% in the third quarter. Bamco Inc. NY now owns 2,018,817 shares of the company’s stock valued at $30,989,000 after purchasing an additional 92,571 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Gold Fields by 66.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,385,210 shares of the company’s stock valued at $21,263,000 after purchasing an additional 551,210 shares during the last quarter. 24.81% of the stock is owned by hedge funds and other institutional investors.

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.