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

Gold Fields Limited (NYSE:GFI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $20.65, but opened at $21.48. Gold Fields shares last traded at $21.39, with a volume of 596,420 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GFI shares. JPMorgan Chase & Co. increased their price objective on Gold Fields from $17.10 to $18.80 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. StockNews.com upgraded Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Friday, March 14th. Finally, Scotiabank boosted their price objective on shares of Gold Fields from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 25th. Four investment 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 MarketBeat, Gold Fields presently has a consensus rating of “Moderate Buy” and an average target price of $17.20.

Gold Fields Price Performance

The firm has a market cap of $19.61 billion, a P/E ratio of 9.32, a PEG ratio of 0.30 and a beta of 1.14. The company’s 50 day moving average is $18.10 and its two-hundred day moving average is $16.05.

Gold Fields Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 14th will be given a $0.3752 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a dividend yield of 1.6%. This is an increase from Gold Fields’s previous semi-annual dividend of $0.17. Gold Fields’s dividend payout ratio (DPR) is currently 25.53%.

Institutional Trading of Gold Fields

Institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC lifted its position in Gold Fields by 0.5% in the fourth quarter. HighTower Advisors LLC now owns 105,174 shares of the company’s stock worth $1,388,000 after purchasing an additional 573 shares during the period. Rhumbline Advisers lifted its holdings in shares of Gold Fields by 4.3% during the 4th quarter. Rhumbline Advisers now owns 17,332 shares of the company’s stock worth $229,000 after acquiring an additional 720 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Gold Fields by 3.4% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 48,365 shares of the company’s stock worth $638,000 after acquiring an additional 1,583 shares during the period. Signaturefd LLC boosted its position in shares of Gold Fields by 19.1% during the 4th quarter. Signaturefd LLC now owns 10,304 shares of the company’s stock valued at $136,000 after acquiring an additional 1,656 shares in the last quarter. Finally, US Bancorp DE increased its stake in Gold Fields by 18.9% in the fourth quarter. US Bancorp DE now owns 11,484 shares of the company’s stock valued at $152,000 after acquiring an additional 1,829 shares during the period. 24.81% of the stock is currently 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.