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 Tuesday . The stock had previously closed at $23.09, but opened at $21.87. Gold Fields shares last traded at $22.12, with a volume of 602,568 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on GFI shares. Hsbc Global Res raised Gold Fields to a “hold” rating in a report on Thursday, April 17th. Scotiabank raised their target price on shares of Gold Fields from $20.00 to $23.00 and gave the company a “sector perform” rating in a research note on Monday, April 14th. Wall Street Zen raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Finally, HSBC reiterated a “hold” rating and set a $21.00 price objective on shares of Gold Fields in a research note on Thursday, April 17th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.56.

Gold Fields Trading Down 4.6%

The stock has a market cap of $19.72 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 0.30 and a beta of 0.57. The company has a fifty day simple moving average of $22.06 and a 200-day simple moving average of $18.29.

Gold Fields Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 14th were issued a dividend of $0.3752 per share. This is a boost from Gold Fields’s previous semi-annual dividend of $0.17. This represents a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, March 14th. Gold Fields’s dividend payout ratio (DPR) is currently 25.96%.

Institutional Trading of Gold Fields

Hedge funds and other institutional investors have recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new stake in shares of Gold Fields in the first quarter worth about $26,000. Banque Cantonale Vaudoise bought a new position in shares of Gold Fields during the 1st quarter worth about $44,000. SVB Wealth LLC bought a new stake in shares of Gold Fields in the 1st quarter worth approximately $48,000. NewEdge Advisors LLC increased its holdings in Gold Fields by 2,152.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,252 shares of the company’s stock valued at $50,000 after buying an additional 2,152 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Gold Fields by 21.0% during the first quarter. GAMMA Investing LLC now owns 3,742 shares of the company’s stock valued at $83,000 after purchasing an additional 649 shares in 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.