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

Shares of Gold Fields Limited (NYSE:GFI) gapped up before the market opened on Thursday . The stock had previously closed at $16.59, but opened at $17.29. Gold Fields shares last traded at $17.23, with a volume of 496,827 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GFI shares. Investec raised 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 report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective on Gold Fields from $17.10 to $18.80 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.45.

Gold Fields Trading Down 1.8 %

The stock has a 50-day moving average of $14.60 and a 200 day moving average of $15.28.

Institutional Trading of Gold Fields

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of Gold Fields by 4.3% during the 4th quarter. Rhumbline Advisers now owns 17,332 shares of the company’s stock valued at $229,000 after buying an additional 720 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Gold Fields by 8.3% during the third quarter. Concurrent Investment Advisors LLC now owns 11,100 shares of the company’s stock worth $170,000 after purchasing an additional 850 shares during the period. Atomi Financial Group Inc. boosted its position in Gold Fields by 10.5% during the fourth quarter. Atomi Financial Group Inc. now owns 21,153 shares of the company’s stock worth $279,000 after purchasing an additional 2,014 shares during the period. Quantinno Capital Management LP increased its stake in shares of Gold Fields by 11.1% in the third quarter. Quantinno Capital Management LP now owns 21,205 shares of the company’s stock worth $326,000 after purchasing an additional 2,118 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Gold Fields by 1.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 121,770 shares of the company’s stock valued at $1,929,000 after purchasing an additional 2,300 shares during the period. Hedge funds and other institutional investors own 24.81% of the company’s stock.

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.