Sierra Summit Advisors LLC Cuts Stock Position in Gold Fields Limited $GFI

Sierra Summit Advisors LLC decreased its stake in shares of Gold Fields Limited (NYSE:GFI) by 50.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,978 shares of the company’s stock after selling 18,944 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Gold Fields were worth $796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GFI. Thrivent Financial for Lutherans bought a new stake in shares of Gold Fields in the third quarter worth $4,314,000. Summit Global Investments increased its position in shares of Gold Fields by 91.9% during the 3rd quarter. Summit Global Investments now owns 46,205 shares of the company’s stock valued at $1,939,000 after purchasing an additional 22,133 shares during the last quarter. AdvisorShares Investments LLC bought a new position in shares of Gold Fields in the 3rd quarter worth approximately $1,889,000. DJE Kapital AG grew its position in Gold Fields by 19.7% during the second quarter. DJE Kapital AG now owns 4,511,125 shares of the company’s stock valued at $105,260,000 after buying an additional 742,174 shares during the period. Finally, Cibc World Market Inc. raised its position in 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 acquiring an additional 146,671 shares during the period. 24.81% of the stock is currently owned by institutional investors.

Gold Fields Price Performance

GFI opened at $58.85 on Monday. The firm has a 50-day simple moving average of $51.12 and a two-hundred day simple moving average of $43.44. Gold Fields Limited has a 52 week low of $17.64 and a 52 week high of $61.64.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GFI. Zacks Research raised Gold Fields from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Gold Fields in a research note on Thursday, January 22nd. Citigroup lifted their price target on shares of Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Scotiabank lifted their target price on shares of Gold Fields from $47.00 to $61.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. increased their price target 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 research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.00.

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.