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

Gold Fields Limited (NYSE:GFI) shares gapped up prior to trading on Monday . The stock had previously closed at $18.70, but opened at $19.23. Gold Fields shares last traded at $18.91, with a volume of 1,264,715 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on GFI. JPMorgan Chase & Co. raised their target price on Gold Fields from $17.10 to $18.80 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. StockNews.com upgraded Gold Fields from a “buy” rating to a “strong-buy” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.45.

Gold Fields Stock Performance

The firm has a market capitalization of $17.26 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 0.30 and a beta of 1.15. The business’s 50 day moving average is $15.92 and its two-hundred day moving average is $15.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GFI. Van ECK Associates Corp lifted its holdings in shares of Gold Fields by 3.3% during the 3rd quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock worth $744,566,000 after acquiring an additional 1,549,372 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Gold Fields by 10.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,155,835 shares of the company’s stock worth $94,492,000 after acquiring an additional 580,546 shares during the last quarter. Amundi lifted its holdings in shares of Gold Fields by 7.3% during the 4th quarter. Amundi now owns 3,107,369 shares of the company’s stock worth $44,684,000 after acquiring an additional 211,333 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Gold Fields by 6.4% during the 4th quarter. American Century Companies Inc. now owns 2,976,004 shares of the company’s stock worth $39,283,000 after acquiring an additional 178,973 shares during the last quarter. Finally, RWC Asset Management LLP lifted its holdings in shares of Gold Fields by 9.2% during the 4th quarter. RWC Asset Management LLP now owns 2,710,910 shares of the company’s stock worth $35,784,000 after acquiring an additional 227,704 shares during the last quarter. 24.81% of the stock is currently 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.