Gold Fields (NYSE:GFI) Shares Gap Up to $13.84

Gold Fields Limited (NYSE:GFI)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $13.84, but opened at $14.31. Gold Fields shares last traded at $14.19, with a volume of 2,050,352 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GFI. StockNews.com raised Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. Scotiabank lowered their price target on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. BMO Capital Markets raised Gold Fields from an “underperform” rating to a “market perform” rating and upped their price target for the company from $13.50 to $14.00 in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lowered their price target on Gold Fields from $17.50 to $16.70 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Gold Fields presently has an average rating of “Hold” and an average price target of $15.90.

Gold Fields Stock Performance

The business has a fifty day simple moving average of $15.53 and a two-hundred day simple moving average of $15.68. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.77 and a quick ratio of 0.70.

Gold Fields Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 13th will be issued a $0.1692 dividend. This represents a yield of 2.2%. The ex-dividend date of this dividend is Friday, September 13th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GFI. First Eagle Investment Management LLC bought a new position in shares of Gold Fields in the first quarter worth about $85,326,000. Van ECK Associates Corp raised its stake in shares of Gold Fields by 6.6% in the first quarter. Van ECK Associates Corp now owns 47,241,502 shares of the company’s stock worth $750,667,000 after buying an additional 2,934,943 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Gold Fields by 145.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,129,278 shares of the company’s stock worth $16,329,000 after buying an additional 669,819 shares during the period. South Street Advisors LLC bought a new position in shares of Gold Fields in the first quarter worth about $9,260,000. Finally, Mackenzie Financial Corp raised its stake in shares of Gold Fields by 28.7% in the second quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock worth $38,878,000 after buying an additional 581,730 shares during the period. Institutional investors own 26.02% of the company’s stock.

About Gold Fields

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, Canada, Australia, and Peru. It also explores for copper and silver deposits. The company was founded in 1887 and is based in Sandton, South Africa.