Gold Fields (NYSE:GFI) Shares Gap Down – Here’s What Happened

Gold Fields Limited (NYSE:GFI) shares gapped down before the market opened on Wednesday . The stock had previously closed at $35.49, but opened at $33.60. Gold Fields shares last traded at $33.9540, with a volume of 1,170,709 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Canaccord Genuity Group upgraded shares of Gold Fields from a “hold” rating to a “buy” rating and lifted their price target for the company from $40.25 to $57.25 in a report on Friday, April 24th. Zacks Research upgraded shares of Gold Fields from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Wall Street Zen cut Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 27th. Scotiabank reduced their target price on Gold Fields from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, March 20th. Finally, Weiss Ratings lowered Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $49.75.

Gold Fields Trading Down 5.0%

The stock’s 50-day moving average price is $43.51 and its two-hundred day moving average price is $46.48. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.79 and a quick ratio of 1.33.

Hedge Funds Weigh In On Gold Fields

Several large investors have recently made changes to their positions in GFI. Cibc World Market Inc. lifted its stake in shares of Gold Fields by 1,180.0% in the third quarter. Cibc World Market Inc. now owns 159,101 shares of the company’s stock worth $6,676,000 after buying an additional 146,671 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Gold Fields by 43.7% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 245,035 shares of the company’s stock valued at $10,698,000 after acquiring an additional 74,539 shares in the last quarter. Dorsey Wright & Associates purchased a new position in Gold Fields in the 3rd quarter worth approximately $2,758,000. American Century Companies Inc. lifted its position in Gold Fields by 24.3% in the 3rd quarter. American Century Companies Inc. now owns 4,136,901 shares of the company’s stock valued at $173,584,000 after acquiring an additional 809,816 shares in the last quarter. Finally, Factory Mutual Insurance Co. purchased a new stake in Gold Fields during the 3rd quarter valued at $5,119,000. 24.81% of the stock is currently owned by hedge funds and other institutional investors.

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.