Gold Fields (NYSE:GFI) Shares Gap Down – What’s Next?

Gold Fields Limited (NYSE:GFI)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $46.41, but opened at $42.74. Gold Fields shares last traded at $43.3850, with a volume of 1,045,095 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GFI. Morgan Stanley cut Gold Fields from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 23rd. Citigroup upped 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. Weiss Ratings reissued a “buy (b)” rating on shares of Gold Fields in a research note on Thursday, January 22nd. Royal Bank Of Canada dropped their target price on Gold Fields to $45.00 and set an “outperform” rating for the company in a report on Monday, November 24th. Finally, JPMorgan Chase & Co. raised their target price on Gold Fields from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Gold Fields currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Gold Fields Stock Performance

The firm has a 50-day moving average price of $52.40 and a 200 day moving average price of $45.07.

Gold Fields Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Thursday, March 26th. Stockholders of record on Friday, March 13th will be paid a $1.4419 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a dividend yield of 633.0%.

Institutional Trading of Gold Fields

A number of large investors have recently modified their holdings of the stock. Country Trust Bank purchased a new position in Gold Fields in the second quarter valued at $26,000. CIBC Private Wealth Group LLC lifted its stake in Gold Fields by 47.1% in the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock worth $36,000 after acquiring an additional 273 shares during the last quarter. Archer Investment Corp acquired a new position in Gold Fields during the 3rd quarter worth approximately $42,000. Cary Street Partners Investment Advisory LLC acquired a new position in Gold Fields during the 3rd quarter worth approximately $45,000. Finally, Bayforest Capital Ltd increased its position in shares of Gold Fields by 1,106.7% in the 4th quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock valued at $47,000 after purchasing an additional 996 shares during the last quarter. Hedge funds and other institutional investors own 24.81% of the company’s stock.

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.