Gold Fields (NYSE:GFI) Shares Gap Down – Should You Sell?

Gold Fields Limited (NYSE:GFI) shares gapped down prior to trading on Friday . The stock had previously closed at $58.61, but opened at $53.19. Gold Fields shares last traded at $55.03, with a volume of 724,473 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GFI shares. Morgan Stanley lowered shares of Gold Fields from an “equal weight” rating to an “underweight” rating in a report on Friday, January 23rd. Scotiabank boosted their price target on Gold Fields from $47.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Monday. HSBC reiterated a “hold” rating on shares of Gold Fields in a research note on Thursday, October 9th. Canaccord Genuity Group downgraded Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 price target on the stock. in a report on Monday, October 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Gold Fields in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Gold Fields presently has a consensus rating of “Hold” and a consensus price target of $44.00.

Gold Fields Stock Performance

The stock’s 50-day moving average price is $46.26 and its 200 day moving average price is $39.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GFI. Penserra Capital Management LLC purchased a new stake in Gold Fields in the 2nd quarter worth $26,000. Country Trust Bank purchased a new position in Gold Fields in the 2nd quarter worth approximately $26,000. CIBC Private Wealth Group LLC lifted its position in Gold Fields by 47.1% during the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock worth $36,000 after buying an additional 273 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Gold Fields by 672.1% in the second 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 during the period. Finally, Archer Investment Corp purchased a new stake in shares of Gold Fields in the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 24.81% of the company’s stock.

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.