Gold Fields (NYSE:GFI) Shares Gap Up – Time to Buy?

Shares of Gold Fields Limited (NYSE:GFI) gapped up before the market opened on Wednesday . The stock had previously closed at $15.82, but opened at $16.41. Gold Fields shares last traded at $16.26, with a volume of 1,091,906 shares trading hands.

Wall Street Analyst Weigh In

GFI has been the subject of several recent analyst reports. StockNews.com downgraded shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. Investec raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Gold Fields from $17.10 to $18.80 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.45.

Gold Fields Stock Up 2.1 %

The stock has a fifty day moving average price of $14.30 and a 200-day moving average price of $15.24.

Hedge Funds Weigh In On Gold Fields

A number of large investors have recently bought and sold shares of the stock. Creative Planning increased its holdings in shares of Gold Fields by 15.2% during the 2nd quarter. Creative Planning now owns 54,242 shares of the company’s stock worth $808,000 after buying an additional 7,155 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Gold Fields by 36.9% in the 3rd quarter. Bank of Montreal Can now owns 263,575 shares of the company’s stock valued at $4,280,000 after purchasing an additional 71,094 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Gold Fields during the 3rd quarter worth approximately $1,052,000. International Assets Investment Management LLC purchased a new stake in Gold Fields during the third quarter worth approximately $10,600,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Gold Fields by 10.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,155,835 shares of the company’s stock valued at $94,492,000 after purchasing an additional 580,546 shares in the last quarter. Hedge funds and other institutional investors own 24.81% 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.