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

Gold Fields Limited (NYSE:GFI) shares gapped down before the market opened on Monday . The stock had previously closed at $15.80, but opened at $14.81. Gold Fields shares last traded at $14.61, with a volume of 1,297,603 shares changing hands.

Wall Street Analysts Forecast Growth

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

Gold Fields Trading Down 3.1 %

The stock has a fifty day simple moving average of $15.67 and a 200 day simple moving average of $15.75.

Gold Fields Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were given a $0.1692 dividend. The ex-dividend date was Friday, September 13th. This represents a yield of 2.2%.

Institutional Trading of Gold Fields

Several institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning increased its holdings in shares of Gold Fields by 15.2% in 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 during the period. International Assets Investment Management LLC purchased a new stake in Gold Fields in the 3rd quarter worth $10,600,000. Range Financial Group LLC acquired a new position in shares of Gold Fields during the 2nd quarter worth about $1,243,000. Van ECK Associates Corp lifted its position in shares of Gold Fields by 3.3% in the third quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock valued at $744,566,000 after acquiring an additional 1,549,372 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in Gold Fields during the 3rd quarter worth $1,052,000. 26.02% 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.