Gold Fields (NYSE:GFI) Shares Gap Up – Still a Buy?

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.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. StockNews.com downgraded shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 5th. Investec raised shares of Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of Gold Fields from $17.10 to $18.80 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.45.

Gold Fields Stock Performance

The firm has a fifty day moving average of $14.55 and a 200 day moving average of $15.27. The firm has a market capitalization of $15.50 billion, a PE ratio of 7.77, a P/E/G ratio of 0.27 and a beta of 1.13.

Institutional Investors Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently bought and sold shares of GFI. Van ECK Associates Corp lifted its stake in Gold Fields by 3.3% during the third quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock worth $744,566,000 after purchasing an additional 1,549,372 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Gold Fields during the 3rd quarter valued at about $9,911,000. Massachusetts Financial Services Co. MA raised its position 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 buying an additional 580,546 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Gold Fields by 66.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,385,210 shares of the company’s stock valued at $21,263,000 after acquiring an additional 551,210 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Gold Fields by 78.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 585,963 shares of the company’s stock valued at $7,735,000 after acquiring an additional 257,081 shares during the period. 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.