Gold Fields (NYSE:GFI) Shares Gap Down – Here’s What Happened

Gold Fields Limited (NYSE:GFI)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $38.60, but opened at $34.85. Gold Fields shares last traded at $34.9020, with a volume of 1,461,993 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Gold Fields from a “hold” rating to a “buy” rating and boosted their price target for the stock from $40.25 to $57.25 in a research report on Friday, April 24th. Zacks Research upgraded Gold Fields from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Scotiabank lowered their price objective 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. Weiss Ratings downgraded Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Finally, Wall Street Zen lowered Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Gold Fields has a consensus rating of “Hold” and an average price target of $49.75.

Gold Fields Stock Performance

The company has a quick ratio of 1.33, a current ratio of 1.79 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $42.08 and a two-hundred day moving average price of $46.28.

Hedge Funds Weigh In On Gold Fields

A number of hedge funds and other institutional investors have recently made changes to their positions in GFI. V Square Quantitative Management LLC bought a new position in Gold Fields during the first quarter valued at about $25,000. CIBC Private Wealth Group LLC raised its position in Gold Fields by 47.1% in the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock worth $36,000 after acquiring an additional 273 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new position in Gold Fields in the third quarter valued at about $45,000. Bayforest Capital Ltd boosted its stake in Gold Fields by 1,106.7% in the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock valued at $47,000 after acquiring an additional 996 shares during the last quarter. Finally, Arax Advisory Partners grew its position in shares of Gold Fields by 352.6% during the 4th quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock valued at $50,000 after acquiring an additional 885 shares during the period. 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.