Gold Fields (NYSE:GFI) Shares Gap Up – Time to Buy?

Gold Fields Limited (NYSE:GFI) gapped up before the market opened on Wednesday . The stock had previously closed at $44.66, but opened at $46.05. Gold Fields shares last traded at $45.9650, with a volume of 669,025 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Zacks Research cut shares of Gold Fields from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Gold Fields in a research note on Monday. JPMorgan Chase & Co. lowered their target price on Gold Fields from $75.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Scotiabank dropped their target price on Gold Fields from $60.00 to $52.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada cut their price target on Gold Fields from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Gold Fields currently has a consensus rating of “Hold” and a consensus price target of $54.05.

Gold Fields Trading Up 0.4%

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.87 and a quick ratio of 1.33. The business’s 50-day moving average price is $37.25 and its 200-day moving average price is $42.28.

Gold Fields Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 11th will be issued a $1.0144 dividend. This represents a yield of 421.0%. The ex-dividend date of this dividend is Friday, September 11th.

Hedge Funds Weigh In On Gold Fields

A number of large investors have recently made changes to their positions in the business. Groupe la Francaise boosted its position in shares of Gold Fields by 2.3% in the 2nd quarter. Groupe la Francaise now owns 585,000 shares of the company’s stock worth $19,667,000 after purchasing an additional 13,000 shares in the last quarter. Oakmont Investment Advisors Inc. acquired a new position in Gold Fields during the 2nd quarter valued at about $912,000. Nykredit A S purchased a new stake in Gold Fields in the second quarter valued at about $2,181,000. B. Metzler seel. Sohn & Co. AG raised its stake in Gold Fields by 12.9% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 103,360 shares of the company’s stock valued at $3,472,000 after buying an additional 11,818 shares during the last quarter. Finally, Quantitative Investment Management LLC boosted its holdings in Gold Fields by 712.5% in the second quarter. Quantitative Investment Management LLC now owns 47,637 shares of the company’s stock worth $1,600,000 after acquiring an additional 41,774 shares in the last quarter. 24.81% of the stock is owned by institutional investors and hedge funds.

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.