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

Shares of Gold Fields Limited (NYSE:GFI) gapped down before the market opened on Friday . The stock had previously closed at $19.20, but opened at $18.70. Gold Fields shares last traded at $18.70, with a volume of 826,860 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com downgraded Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on shares of Gold Fields from $17.10 to $18.80 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.45.

Gold Fields Trading Down 2.4 %

The firm has a 50-day moving average of $15.83 and a 200 day moving average of $15.50.

Hedge Funds Weigh In On Gold Fields

Institutional investors have recently added to or reduced their stakes in the company. ABC Arbitrage SA purchased a new stake in shares of Gold Fields during the fourth quarter worth about $1,641,000. Bank of Montreal Can increased its holdings in Gold Fields by 36.9% during the 3rd quarter. Bank of Montreal Can now owns 263,575 shares of the company’s stock worth $4,280,000 after purchasing an additional 71,094 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Gold Fields in the 3rd quarter valued at approximately $1,052,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Gold Fields by 10.4% during 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 buying an additional 580,546 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Gold Fields during the third quarter worth approximately $10,600,000. Institutional investors and hedge funds own 24.81% of the company’s stock.

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.