Gold Fields (NYSE:GFI) Shares Up 6.4% – Here’s Why

Gold Fields Limited (NYSE:GFI) shares rose 6.4% during trading on Wednesday . The stock traded as high as $60.16 and last traded at $60.06. Approximately 2,553,163 shares traded hands during trading, a decline of 15% from the average daily volume of 2,999,394 shares. The stock had previously closed at $56.45.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GFI. Weiss Ratings reiterated a “buy (b)” rating on shares of Gold Fields in a research report on Thursday, January 22nd. Investec lowered Gold Fields from a “buy” rating to a “hold” rating in a research note on Friday, October 10th. Zacks Research cut shares of Gold Fields from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Scotiabank increased their price target on Gold Fields from $47.00 to $61.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Royal Bank Of Canada reduced their target price on Gold Fields to $45.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.00.

Gold Fields Price Performance

The stock’s 50-day simple moving average is $45.42 and its 200-day simple moving average is $38.91.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GFI. DJE Kapital AG raised its position in shares of Gold Fields by 19.7% in the second quarter. DJE Kapital AG now owns 4,511,125 shares of the company’s stock worth $105,260,000 after buying an additional 742,174 shares in the last quarter. Paradiem LLC purchased a new position in Gold Fields during the second quarter worth about $2,010,000. U S Global Investors Inc. increased its stake in Gold Fields by 53.8% in the 2nd quarter. U S Global Investors Inc. now owns 100,000 shares of the company’s stock worth $2,367,000 after acquiring an additional 35,000 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Gold Fields by 32.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,371,211 shares of the company’s stock valued at $183,416,000 after acquiring an additional 1,062,242 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Gold Fields by 1,244.8% during the 2nd quarter. Osaic Holdings Inc. now owns 248,918 shares of the company’s stock valued at $5,620,000 after acquiring an additional 230,408 shares during the last quarter. 24.81% of the stock is owned by institutional investors.

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.