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

Shares of Gold Fields Limited (NYSE:GFI) gapped down prior to trading on Wednesday . The stock had previously closed at $18.91, but opened at $18.04. Gold Fields shares last traded at $18.15, with a volume of 400,679 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Gold Fields from $17.50 to $16.70 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Scotiabank cut their price objective on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. StockNews.com downgraded Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Friday, October 18th. Investec raised shares of Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. 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 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.93.

Gold Fields Trading Down 0.4 %

The firm’s fifty day moving average price is $15.39 and its two-hundred day moving average price is $15.87. The stock has a market capitalization of $16.00 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18.

Gold Fields Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were paid a dividend of $0.1692 per share. This represents a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 13th. Gold Fields’s payout ratio is currently 14.14%.

Hedge Funds Weigh In On Gold Fields

Several institutional investors and hedge funds have recently modified their holdings of GFI. Goldman Sachs Group Inc. increased its position in shares of Gold Fields by 145.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,129,278 shares of the company’s stock valued at $16,329,000 after buying an additional 669,819 shares in the last quarter. Creative Planning lifted its holdings in Gold Fields by 15.2% during the second quarter. Creative Planning now owns 54,242 shares of the company’s stock valued at $808,000 after purchasing an additional 7,155 shares in the last quarter. Range Financial Group LLC acquired a new stake in shares of Gold Fields in the second quarter valued at about $1,243,000. RWC Asset Management LLP increased its stake in Gold Fields by 10.0% during the 2nd quarter. RWC Asset Management LLP now owns 3,588,984 shares of the company’s stock worth $53,476,000 after buying an additional 324,885 shares in the last quarter. Finally, Capital Wealth Planning LLC purchased a new position in Gold Fields in the 2nd quarter valued at $2,390,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

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.