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

Gold Fields Limited (NYSE:GFI) shares gapped up before the market opened on Monday. The stock had previously closed at $32.92, but opened at $34.41. Gold Fields shares last traded at $34.96, with a volume of 1,621,969 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of Gold Fields from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 27th. Royal Bank Of Canada increased their price objective on shares of Gold Fields from $49.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. The Goldman Sachs Group initiated coverage on shares of Gold Fields in a research report on Thursday, October 15th. They issued a “neutral” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Gold Fields from $75.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Gold Fields in a research report on Monday, August 31st. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.46.

Gold Fields Trading Down 0.8%

The business’s fifty day simple moving average is $39.86 and its 200 day simple moving average is $42.59.

Gold Fields Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, September 24th. Investors of record on Friday, September 11th were issued a $1.0144 dividend. This represents a yield of 450.0%. The ex-dividend date was Friday, September 11th.

Institutional Trading of Gold Fields

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in shares of Gold Fields during the 1st quarter worth about $25,000. Latitude Advisors LLC bought a new stake in shares of Gold Fields in the 3rd quarter valued at about $36,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Gold Fields in the 3rd quarter valued at about $71,000. Rockefeller Capital Management L.P. lifted its stake in Gold Fields by 1,604.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,096 shares of the company’s stock valued at $92,000 after purchasing an additional 1,973 shares during the last quarter. Finally, Strategic Investment Advisors MI acquired a new stake in Gold Fields in the 1st quarter valued at about $118,000. 24.81% of the stock is owned by institutional investors.

About Gold Fields

Gold Fields Limited (NYSE:GFI) is a global gold producer headquartered in Johannesburg, South Africa. The company explores for, develops and operates gold mines, producing doré and refined gold for sale to international markets. Its activities include mine development, underground and open-pit mining, ore processing and exploration for additional mineral resources.

Gold Fields has a history dating to 1887 and has grown into one of the world’s major gold-mining companies through acquisitions, partnerships and the development of its own projects.