Gold Fields (NYSE:GFI) Shares Gap Down – What’s Next?

Gold Fields Limited (NYSE:GFI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $35.49, but opened at $33.60. Gold Fields shares last traded at $33.9540, with a volume of 1,170,709 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on GFI. Zacks Research upgraded Gold Fields from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Wall Street Zen downgraded shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Monday, April 27th. Canaccord Genuity Group upgraded shares of Gold Fields from a “hold” rating to a “buy” rating and lifted their price target for the stock from $40.25 to $57.25 in a research note on Friday, April 24th. Weiss Ratings cut shares of Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Finally, Scotiabank lowered their price objective on shares of Gold Fields from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, March 20th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.75.

Gold Fields Price Performance

The company has a current ratio of 1.79, a quick ratio of 1.33 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average of $43.51 and a 200 day moving average of $46.48.

Hedge Funds Weigh In On Gold Fields

A number of institutional investors and hedge funds have recently made changes to their positions in GFI. Blue Trust Inc. grew its position in Gold Fields by 4.5% during the first quarter. Blue Trust Inc. now owns 4,957 shares of the company’s stock valued at $225,000 after buying an additional 215 shares during the period. Manning & Napier Advisors LLC boosted its stake in shares of Gold Fields by 0.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 79,680 shares of the company’s stock worth $3,617,000 after acquiring an additional 241 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Gold Fields by 1.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,003 shares of the company’s stock worth $786,000 after acquiring an additional 251 shares during the last quarter. Harbour Capital Advisors LLC grew its position in shares of Gold Fields by 0.5% during the 4th quarter. Harbour Capital Advisors LLC now owns 50,525 shares of the company’s stock valued at $2,201,000 after acquiring an additional 265 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Gold Fields by 3.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,751 shares of the company’s stock valued at $338,000 after acquiring an additional 269 shares during the period. Hedge funds and other institutional investors own 24.81% of the company’s stock.

About Gold Fields

Gold Fields (NYSE: GFI) is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company’s core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.