Gold Fields (NYSE:GFI) Shares Gap Up – Here’s Why

Shares of Gold Fields Limited (NYSE:GFI) gapped up prior to trading on Thursday . The stock had previously closed at $13.20, but opened at $13.79. Gold Fields shares last traded at $13.85, with a volume of 767,035 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Investec upgraded Gold Fields from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. StockNews.com cut shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 5th. Bank of America began coverage on shares of Gold Fields in a report on Monday, September 16th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Gold Fields from $18.00 to $17.10 and set a “neutral” rating for the company in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.03.

Gold Fields Stock Performance

The company has a market cap of $12.49 billion, a price-to-earnings ratio of 6.62, a price-to-earnings-growth ratio of 0.43 and a beta of 1.13. The stock’s fifty day moving average is $14.75 and its two-hundred day moving average is $15.25.

Hedge Funds Weigh In On Gold Fields

Several large investors have recently bought and sold shares of the stock. LGT Fund Management Co Ltd. bought a new position in shares of Gold Fields during the second quarter valued at about $149,000. Concurrent Investment Advisors LLC bought a new position in Gold Fields during the second quarter valued at about $153,000. QRG Capital Management Inc. purchased a new stake in Gold Fields during the third quarter worth about $160,000. Candriam S.C.A. bought a new stake in Gold Fields in the second quarter worth about $189,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Gold Fields during the 3rd quarter valued at approximately $209,000. 24.81% of the stock is currently owned by institutional investors.

Gold Fields Company Profile

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.