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

Gold Fields Limited (NYSE:GFI) shares gapped down prior to trading on Wednesday . The stock had previously closed at $18.91, but opened at $18.04. Gold Fields shares last traded at $18.15, with a volume of 400,679 shares trading hands.

Analysts Set New Price Targets

A number of research firms have commented on GFI. Investec upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. StockNews.com downgraded Gold Fields from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 18th. Scotiabank dropped their price target 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. JPMorgan Chase & Co. cut their price objective on shares of Gold Fields from $17.50 to $16.70 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, Bank of America initiated coverage on Gold Fields in a report on Monday, September 16th. They issued a “buy” rating and a $16.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.93.

Gold Fields Price Performance

The company has a market capitalization of $16.00 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. The company has a fifty day moving average price of $15.39 and a 200 day moving average price of $15.87.

Gold Fields Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were issued a $0.1692 dividend. This represents a dividend yield of 2.2%. The ex-dividend date was Friday, September 13th. Gold Fields’s dividend payout ratio (DPR) is presently 14.14%.

Hedge Funds Weigh In On Gold Fields

A number of institutional investors have recently bought and sold shares of the stock. LGT Fund Management Co Ltd. acquired a new position in shares of Gold Fields during the 2nd quarter worth $149,000. Concurrent Investment Advisors LLC bought a new stake in shares of Gold Fields in the 2nd quarter worth about $153,000. Hennion & Walsh Asset Management Inc. raised its position in Gold Fields by 10.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock valued at $172,000 after purchasing an additional 1,090 shares during the last quarter. Candriam S.C.A. acquired a new stake in shares of Gold Fields in the second quarter valued at approximately $189,000. Finally, Ballentine Partners LLC raised its stake in shares of Gold Fields by 6.9% during the first quarter. Ballentine Partners LLC now owns 14,017 shares of the company’s stock worth $223,000 after buying an additional 901 shares during the last quarter. Hedge funds and other 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.