Gold Fields (NYSE:GFI) Shares Gap Down – Here’s Why

Shares of Gold Fields Limited (NYSE:GFI) gapped down prior to trading on Monday . The stock had previously closed at $15.24, but opened at $14.78. Gold Fields shares last traded at $14.77, with a volume of 387,016 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GFI. Investec upgraded Gold Fields from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Scotiabank lowered their price target on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. StockNews.com cut shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Bank of America initiated coverage on shares of Gold Fields in a report on Monday, September 16th. They issued a “buy” rating and a $16.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Gold Fields presently has a consensus rating of “Hold” and an average target price of $15.93.

Gold Fields Trading Down 3.6 %

The business has a 50 day simple moving average of $15.81 and a two-hundred day simple moving average of $15.62.

Institutional Trading of Gold Fields

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its holdings in Gold Fields by 2.2% in the third quarter. State Street Corp now owns 1,194,633 shares of the company’s stock valued at $18,338,000 after buying an additional 25,972 shares during the period. Quantinno Capital Management LP grew its position in Gold Fields by 11.1% in the third quarter. Quantinno Capital Management LP now owns 21,205 shares of the company’s stock valued at $326,000 after acquiring an additional 2,118 shares in the last quarter. Centiva Capital LP acquired a new stake in Gold Fields during the 3rd quarter valued at $521,000. Bamco Inc. NY lifted its stake in Gold Fields by 4.8% during the third quarter. Bamco Inc. NY now owns 2,018,817 shares of the company’s stock worth $30,989,000 after purchasing an additional 92,571 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Gold Fields during the third quarter valued at $9,911,000. 26.02% of the stock is currently owned by institutional investors and hedge funds.

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.