Gold Fields (NYSE:GFI) Shares Gap Up – Should You Buy?

Gold Fields Limited (NYSE:GFI) gapped up before the market opened on Wednesday . The stock had previously closed at $40.66, but opened at $43.37. Gold Fields shares last traded at $42.7350, with a volume of 903,996 shares traded.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GFI shares. Morgan Stanley downgraded Gold Fields from an “equal weight” rating to an “underweight” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Gold Fields from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Scotiabank lowered their target price on shares of Gold Fields from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, March 20th. Wall Street Zen raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, Zacks Research upgraded shares of Gold Fields from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.88.

Gold Fields Stock Performance

The firm has a 50-day simple moving average of $51.77 and a 200 day simple moving average of $45.31.

Gold Fields Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, March 26th. Investors of record on Friday, March 13th will be given a $1.4419 dividend. The ex-dividend date is Friday, March 13th. This represents a yield of 633.0%.

Institutional Investors Weigh In On Gold Fields

A number of institutional investors and hedge funds have recently made changes to their positions in GFI. Thrivent Financial for Lutherans purchased a new position in Gold Fields in the third quarter valued at about $4,314,000. Summit Global Investments boosted its stake in shares of Gold Fields by 91.9% during the 3rd quarter. Summit Global Investments now owns 46,205 shares of the company’s stock worth $1,939,000 after acquiring an additional 22,133 shares in the last quarter. AdvisorShares Investments LLC acquired a new stake in shares of Gold Fields in the 3rd quarter worth approximately $1,889,000. Cibc World Market Inc. grew its holdings in shares of Gold Fields by 1,180.0% in the 3rd quarter. Cibc World Market Inc. now owns 159,101 shares of the company’s stock worth $6,676,000 after acquiring an additional 146,671 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in Gold Fields by 49.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 133,852 shares of the company’s stock valued at $5,616,000 after purchasing an additional 44,306 shares in the last quarter. 24.81% of the stock is owned by hedge funds and other institutional investors.

About Gold Fields

Gold Fields (NYSE: GFI) is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company’s core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.