Norges Bank Makes New $26.20 Million Investment in Gold Fields Limited $GFI

Norges Bank purchased a new position in Gold Fields Limited (NYSE:GFI) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 600,000 shares of the company’s stock, valued at approximately $26,196,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GFI. Robeco Institutional Asset Management B.V. lifted its position in Gold Fields by 39.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,085,653 shares of the company’s stock worth $265,700,000 after buying an additional 1,714,442 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Gold Fields in the third quarter worth $42,963,000. Man Group plc lifted its position in Gold Fields by 59.9% in the third quarter. Man Group plc now owns 2,229,678 shares of the company’s stock worth $93,557,000 after buying an additional 835,581 shares during the last quarter. American Century Companies Inc. lifted its position in Gold Fields by 24.3% in the third quarter. American Century Companies Inc. now owns 4,136,901 shares of the company’s stock worth $173,584,000 after buying an additional 809,816 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Gold Fields by 1.6% in the third quarter. Van ECK Associates Corp now owns 34,303,269 shares of the company’s stock worth $1,439,365,000 after buying an additional 539,923 shares during the last quarter. 24.81% of the stock is currently owned by institutional investors.

Gold Fields Stock Performance

Shares of Gold Fields stock opened at $35.50 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.33 and a current ratio of 1.79. Gold Fields Limited has a 12 month low of $22.40 and a 12 month high of $61.64. The stock’s fifty day moving average price is $43.51 and its 200-day moving average price is $46.48.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GFI. Canaccord Genuity Group upgraded Gold Fields from a “hold” rating to a “buy” rating and raised their price target for the stock from $40.25 to $57.25 in a research report on Friday, April 24th. Wall Street Zen downgraded Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 27th. Zacks Research upgraded Gold Fields from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Scotiabank decreased their target price on Gold Fields from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, March 20th. Finally, Weiss Ratings downgraded Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.75.

Gold Fields Company Profile

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.