Wellington Management Group LLP Makes New $2.05 Million Investment in Gold Fields Limited (NYSE:GFI)

Wellington Management Group LLP acquired a new position in Gold Fields Limited (NYSE:GFI) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 188,412 shares of the company’s stock, valued at approximately $2,046,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Gold Fields by 15.1% during the third quarter. Van ECK Associates Corp now owns 46,158,985 shares of the company’s stock valued at $501,287,000 after acquiring an additional 6,053,995 shares in the last quarter. Balyasny Asset Management LLC increased its holdings in shares of Gold Fields by 6,833.8% during the third quarter. Balyasny Asset Management LLC now owns 3,466,882 shares of the company’s stock valued at $28,047,000 after acquiring an additional 3,416,882 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Gold Fields by 118.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,107,356 shares of the company’s stock valued at $78,960,000 after acquiring an additional 2,772,894 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Gold Fields by 10.2% during the first quarter. BlackRock Inc. now owns 25,589,382 shares of the company’s stock valued at $395,611,000 after acquiring an additional 2,368,601 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Gold Fields by 48.9% during the second quarter. Goldman Sachs Group Inc. now owns 5,056,783 shares of the company’s stock valued at $69,935,000 after acquiring an additional 1,659,847 shares in the last quarter. Institutional investors own 26.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets downgraded Gold Fields from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $14.00 to $12.00 in a report on Friday, February 2nd. StockNews.com cut Gold Fields from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Finally, Scotiabank dropped their price objective on Gold Fields from $15.50 to $15.00 and set a “sector perform” rating on the stock in a research report on Monday, February 26th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.67.

Gold Fields Stock Performance

GFI opened at $15.61 on Thursday. The business has a fifty day moving average of $14.09 and a 200 day moving average of $13.67. Gold Fields Limited has a 52-week low of $10.31 and a 52-week high of $17.78.

Gold Fields (NYSE:GFI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.10. On average, analysts expect that Gold Fields Limited will post 1.15 EPS for the current fiscal year.

Gold Fields Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be issued a $0.1717 dividend. This represents a dividend yield of 2.5%. This is a boost from Gold Fields’s previous semi-annual dividend of $0.17. The ex-dividend date is Thursday, March 14th.

Gold Fields Company Profile

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, West Africa, Australia, and Peru. The company also explores for copper deposits. It holds interests in nine operating mines, as well as gold mineral reserves and mineral resources. The company was founded in 1887 and is based in Sandton, South Africa.