Gold Fields (NYSE:GFI) Shares Gap Down – What’s Next?

Gold Fields Limited (NYSE:GFI)’s share price gapped down before the market opened on Monday . The stock had previously closed at $24.56, but opened at $23.39. Gold Fields shares last traded at $23.53, with a volume of 1,483,389 shares.

Analysts Set New Price Targets

Several brokerages recently weighed in on GFI. StockNews.com upgraded shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 10th. JPMorgan Chase & Co. increased their price objective on shares of Gold Fields from $17.10 to $18.80 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Finally, Scotiabank boosted their target price on shares of Gold Fields from $20.00 to $23.00 and gave the company a “sector perform” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Gold Fields has a consensus rating of “Moderate Buy” and a consensus price target of $17.95.

Gold Fields Trading Up 0.8 %

The firm’s fifty day moving average price is $20.45 and its two-hundred day moving average price is $17.11. The stock has a market capitalization of $21.37 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.30 and a beta of 0.92.

Gold Fields Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 14th were issued a $0.3752 dividend. This is a boost from Gold Fields’s previous semi-annual dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. This represents a yield of 1.6%. Gold Fields’s payout ratio is presently 25.96%.

Institutional Investors Weigh In On Gold Fields

Several hedge funds have recently modified their holdings of GFI. ABC Arbitrage SA purchased a new position in shares of Gold Fields in the 4th quarter valued at about $1,641,000. Raymond James Financial Inc. purchased a new stake in shares of Gold Fields in the fourth quarter valued at approximately $362,000. Rhumbline Advisers raised its stake in shares of Gold Fields by 4.3% during the 4th quarter. Rhumbline Advisers now owns 17,332 shares of the company’s stock worth $229,000 after buying an additional 720 shares during the period. Range Financial Group LLC purchased a new position in shares of Gold Fields during the 4th quarter valued at approximately $770,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Gold Fields by 8.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,507,457 shares of the company’s stock valued at $21,194,000 after buying an additional 122,247 shares in 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.