Gold Fields (NYSE:GFI) Stock Price Up 5.8% – Here’s What Happened

Gold Fields Limited (NYSE:GFI)’s share price shot up 5.8% during trading on Thursday . The stock traded as high as $22.89 and last traded at $22.80. 1,072,216 shares were traded during mid-day trading, a decline of 69% from the average session volume of 3,488,465 shares. The stock had previously closed at $21.55.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Gold Fields from $17.10 to $18.80 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Scotiabank raised their price objective on shares of Gold Fields from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 25th. Finally, StockNews.com upgraded shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Gold Fields has an average rating of “Moderate Buy” and an average price target of $17.20.

Gold Fields Stock Performance

The firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 0.30 and a beta of 0.92. The company has a 50 day moving average price of $20.23 and a two-hundred day moving average price of $17.00.

Gold Fields Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 14th were given a dividend of $0.3752 per share. The ex-dividend date was Friday, March 14th. This is a boost from Gold Fields’s previous semi-annual dividend of $0.17. This represents a yield of 1.6%. Gold Fields’s dividend payout ratio is currently 25.96%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FCA Corp TX purchased a new position in Gold Fields in the 4th quarter worth approximately $108,000. Net Worth Advisory Group acquired a new stake in shares of Gold Fields during the 4th quarter worth approximately $136,000. Signaturefd LLC raised its position in shares of Gold Fields by 19.1% during the 4th quarter. Signaturefd LLC now owns 10,304 shares of the company’s stock valued at $136,000 after buying an additional 1,656 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Gold Fields in the fourth quarter valued at approximately $139,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Gold Fields during the fourth quarter worth $141,000. 24.81% of the stock is owned by hedge funds and other institutional investors.

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.