Gold Fields Limited $GFI Shares Acquired by Summit Global Investments

Summit Global Investments boosted its position in Gold Fields Limited (NYSE:GFI) by 91.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,205 shares of the company’s stock after buying an additional 22,133 shares during the quarter. Summit Global Investments’ holdings in Gold Fields were worth $1,939,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new stake in shares of Gold Fields during the second quarter worth about $26,000. Country Trust Bank purchased a new position in Gold Fields in the second quarter valued at about $26,000. IFP Advisors Inc grew its stake in Gold Fields by 672.1% during the 2nd quarter. IFP Advisors Inc now owns 1,552 shares of the company’s stock valued at $37,000 after purchasing an additional 1,351 shares in the last quarter. Archer Investment Corp purchased a new stake in Gold Fields during the 3rd quarter worth approximately $42,000. Finally, FNY Investment Advisers LLC purchased a new stake in Gold Fields during the 2nd quarter worth approximately $47,000. 24.81% of the stock is owned by hedge funds and other institutional investors.

Gold Fields Trading Down 4.4%

GFI stock opened at $58.82 on Friday. Gold Fields Limited has a 1-year low of $16.91 and a 1-year high of $61.64. The firm has a fifty day moving average price of $46.26 and a two-hundred day moving average price of $39.20.

Analysts Set New Price Targets

Several research firms have recently commented on GFI. Weiss Ratings reiterated a “buy (b)” rating on shares of Gold Fields in a research note on Thursday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of Gold Fields from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Citigroup increased their price objective on shares of Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Investec lowered shares of Gold Fields from a “buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, HSBC restated a “hold” rating on shares of Gold Fields in a research note on Thursday, October 9th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.00.

Gold Fields 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.