Gold Fields (NYSE:GFI) Shares Gap Up – Should You Buy?

Gold Fields Limited (NYSE:GFI) shares gapped up before the market opened on Wednesday . The stock had previously closed at $39.89, but opened at $41.43. Gold Fields shares last traded at $41.56, with a volume of 1,221,926 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Gold Fields in a research report on Wednesday, October 8th. BMO Capital Markets increased their target price on Gold Fields from $24.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, August 25th. JPMorgan Chase & Co. initiated coverage on Gold Fields in a report on Thursday, October 23rd. They set an “overweight” rating and a $62.00 target price on the stock. Investec lowered Gold Fields from a “buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Scotiabank increased their price target on shares of Gold Fields from $30.00 to $47.00 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.43.

Gold Fields Stock Performance

The firm’s 50 day moving average price is $40.44 and its two-hundred day moving average price is $31.16.

Gold Fields Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 12th were issued a dividend of $0.3993 per share. The ex-dividend date was Friday, September 12th. This is an increase from Gold Fields’s previous semi-annual dividend of $0.38. This represents a yield of 130.0%.

Hedge Funds Weigh In On Gold Fields

Several large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. purchased a new position in Gold Fields in the 1st quarter worth approximately $8,075,000. DJE Kapital AG grew its holdings in shares of Gold Fields by 19.7% in the second quarter. DJE Kapital AG now owns 4,511,125 shares of the company’s stock worth $105,260,000 after purchasing an additional 742,174 shares during the last quarter. Paradiem LLC purchased a new position in shares of Gold Fields in the second quarter worth $2,010,000. U S Global Investors Inc. increased its stake in shares of Gold Fields by 53.8% in the second quarter. U S Global Investors Inc. now owns 100,000 shares of the company’s stock worth $2,367,000 after buying an additional 35,000 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Gold Fields during the 2nd quarter valued at $1,316,000. 24.81% of the stock is owned by institutional investors.

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.