South Street Advisors LLC Lowers Position in Gold Fields Limited (NYSE:GFI)

South Street Advisors LLC cut its stake in Gold Fields Limited (NYSE:GFI) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 851,097 shares of the company’s stock after selling 19,683 shares during the quarter. Gold Fields accounts for about 2.0% of South Street Advisors LLC’s portfolio, making the stock its 21st biggest position. South Street Advisors LLC’s holdings in Gold Fields were worth $13,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LGT Fund Management Co Ltd. purchased a new stake in shares of Gold Fields in the second quarter worth approximately $149,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Gold Fields during the second quarter valued at approximately $153,000. QRG Capital Management Inc. purchased a new stake in shares of Gold Fields during the third quarter valued at approximately $160,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Gold Fields by 10.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock valued at $172,000 after acquiring an additional 1,090 shares during the last quarter. Finally, Candriam S.C.A. purchased a new stake in shares of Gold Fields during the second quarter valued at approximately $189,000. 26.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GFI has been the subject of a number of research analyst reports. Bank of America began coverage on Gold Fields in a research report on Monday, September 16th. They set a “buy” rating and a $16.00 price target for the company. Investec raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. StockNews.com downgraded Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Scotiabank decreased their target price on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Gold Fields currently has an average rating of “Hold” and an average price target of $15.93.

Gold Fields Price Performance

Shares of Gold Fields stock traded down $0.06 during trading hours on Friday, reaching $13.66. The company had a trading volume of 3,098,424 shares, compared to its average volume of 3,665,944. Gold Fields Limited has a one year low of $12.19 and a one year high of $18.97. The business has a fifty day simple moving average of $15.69 and a 200 day simple moving average of $15.67.

Gold Fields Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were paid a dividend of $0.1692 per share. This represents a yield of 2.2%. The ex-dividend date was Friday, September 13th.

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.