Gold Fields Limited (NYSE:GFI) Sees Large Decline in Short Interest

Gold Fields Limited (NYSE:GFI) was the target of a large decrease in short interest in February. As of February 13th, there was short interest totaling 7,926,815 shares, a decrease of 15.0% from the January 29th total of 9,324,075 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily volume of 3,382,373 shares, the short-interest ratio is currently 2.3 days. Based on an average daily volume of 3,382,373 shares, the short-interest ratio is currently 2.3 days. Approximately 1.4% of the shares of the stock are short sold.

Institutional Trading of Gold Fields

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its position in Gold Fields by 20.3% in the first quarter. Millennium Management LLC now owns 191,482 shares of the company’s stock worth $4,230,000 after acquiring an additional 32,343 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Gold Fields by 2,152.0% during the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company’s stock worth $50,000 after purchasing an additional 2,152 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Gold Fields in the 1st quarter worth about $236,000. Jones Financial Companies Lllp bought a new position in shares of Gold Fields during the 1st quarter valued at about $268,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Gold Fields by 17.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 428,929 shares of the company’s stock valued at $10,152,000 after buying an additional 63,371 shares in the last quarter. 24.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wall Street Zen raised Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Citigroup raised their price objective on shares of Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. JPMorgan Chase & Co. upped their target price on shares of Gold Fields from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Scotiabank increased their target price on shares of Gold Fields from $47.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Finally, Royal Bank Of Canada cut their price target on shares of Gold Fields to $45.00 and set an “outperform” rating for the company in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Gold Fields currently has an average rating of “Hold” and a consensus price target of $44.00.

Gold Fields Stock Performance

GFI stock opened at $50.03 on Friday. The company’s 50 day moving average is $51.62 and its 200 day moving average is $43.88. Gold Fields has a 1-year low of $19.21 and a 1-year high of $61.64.

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.