Gold Fields (NYSE:GFI) Shares Gap Up – Should You Buy?

Gold Fields Limited (NYSE:GFI) shares gapped up before the market opened on Wednesday . The stock had previously closed at $46.12, but opened at $52.77. Gold Fields shares last traded at $49.1710, with a volume of 2,190,030 shares traded.

Wall Street Analyst Weigh In

GFI has been the topic of a number of recent research reports. Morgan Stanley downgraded Gold Fields from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 23rd. Scotiabank dropped their price target on Gold Fields from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, March 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Gold Fields in a research report on Thursday, January 22nd. Zacks Research downgraded Gold Fields from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. 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 report on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Gold Fields has a consensus rating of “Hold” and a consensus target price of $43.88.

Gold Fields Stock Performance

The business has a 50-day moving average price of $50.36 and a 200-day moving average price of $45.80.

Gold Fields Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Thursday, March 26th. Investors of record on Friday, March 13th were given a dividend of $1.4419 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a yield of 633.0%.

Institutional Investors Weigh In On Gold Fields

A number of institutional investors have recently added to or reduced their stakes in GFI. CIBC Private Wealth Group LLC boosted its position in Gold Fields by 47.1% during the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock valued at $36,000 after purchasing an additional 273 shares in the last quarter. Archer Investment Corp bought a new stake in Gold Fields during the third quarter valued at about $42,000. Cary Street Partners Investment Advisory LLC bought a new stake in Gold Fields during the third quarter valued at about $45,000. Bayforest Capital Ltd boosted its position in Gold Fields by 1,106.7% during the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock valued at $47,000 after purchasing an additional 996 shares in the last quarter. Finally, Arax Advisory Partners boosted its position in Gold Fields by 352.6% during the fourth quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock valued at $50,000 after purchasing an additional 885 shares in the last quarter. 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.